Effect of the CEO’s financial expertise on stock price delays
Publish place: Theory of Approximation and Applications، Vol: 16، Issue: 2
Publish Year: 1401
نوع سند: مقاله ژورنالی
زبان: English
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شناسه ملی سند علمی:
JR_MSJI-16-2_009
تاریخ نمایه سازی: 28 فروردین 1402
Abstract:
The aim of this study is to investigate the effect of CEO’s financial expertise on Stock Price Delayoflisted Companiesin TehranStock Exchange. For this purpose one hypotheses are developed and data on the ۱۰۷ companies in Tehran Stock Exchange for the period of ۲۰۱۱ to ۲۰۱۸ were analyzed. This regression model using panel data with fixed effects approach and tests. The resultsshowed thatthe concentration CEO’s financial expertise hassignificantNegativeimpact onStock Price Delay. Therefore, the research results indicate that the Powerful executives have more independence and you have more supervisory roles on the board this reduces the disadvantages of stakeholder rights and reduce the agency costs , and thus reduce agency costs reduce information asymmetry and reduce the opacity in financial and thus Decrease Stock Price Delay.
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Authors
Saeid Baseri
Department of Accounting, Qom Branch, Islamic Azad University, Qom, Iran
Mohammad Kashanipour
Department of Accounting, University of Tehran, Tehran, Iran
Hossein Jahangirnia
Department of Accounting, Qom Branch, Islamic Azad University, Qom, Iran
Reza GholamiJamkarani
Department of Accounting, Qom Branch, Islamic Azad University, Qom, Iran