The Effect of Disclosure of Information on Internet on Market Value and Return on Assets of the Companies Listed in Tehran Stock Exchange

Abstract

In recent years, the use of Internet has grown increasingly so that many companies have attempted to Web Design to publish their information and in addition to the traditional form of dissemination of information, they are seeking to communicate with their stakeholders by leveraging the capabilities of the Internet media. Hence, the importance of disclosure of Information on the Internet and its effects on other information would be a particular importance. Therefore, in this study we examined the effect of disclosure of Information on the Internet on market value and return on assets of the company. To determine disclosure of Information on the Internet, it was used the scoring table Geerings et al., (2003). The study sample included 108 companies listed in Tehran Stock Exchange for the period 1390-1392 so that selected through systematic elimination. The hypotheses test performed by multiple regressions and method of generalized least squares (GLS) with panel data layout. The results show that disclosure of Information on the Internet has a significant positive effect on market value and return on assets of the company. This finding is consistent with research Gray et al. (2013).