TY - JOUR ID - 144458 TI - Investigating the Relationship between Information Asymmetry and Political Communication with Investment Efficiency in Tehran Stock Exchange JO - Iranian Journal of Finance JA - IJF LA - en SN - 2676-6337 AU - Rahmanian Koushkaki, Abdolrasoul AU - Bahremandjouy, Sadegh AD - Assistant Professor, Department of Accounting, Payame Noor University (PNU), Tehran, Iran. AD - MSc., Department of Accounting, Payame Noor University (PNU), Tehran, Iran. Y1 - 2022 PY - 2022 VL - 6 IS - 3 SP - 116 EP - 141 KW - investment efficiency KW - Political communication KW - Information Asymmetry DO - 10.30699/ijf.2022.297437.1255 N2 - The primary purpose of this study is to investigate the relationship between Political Communication and Information Asymmetry with the efficiency of investment in companies listed on the Tehran Stock Exchange. To achieve the above goal, two hypotheses were formulated. To test research hypotheses, a sample consisting of 109 companies listed on the Tehran Stock Exchange in the period 2014 to 2019 was selected. And a panel regression model based on composite data was used which has independent and dependent variables. The results of this study show that Political Communication has a negative and significant impact on Investment Efficiency, In contrast, Information Asymmetry has a positive and significant impact on Investment Efficiency, and this means that with increasing information asymmetry, investment efficiency increases. Therefore, political communications prefer corporate resources to pursue profitable investment options, thus altering corporate investment behaviors and reducing corporate investment efficiency. The results also show that Information asymmetry prevents investors from commenting on investment opportunities, thus allowing local managers to take advantage of profitable investment options. UR - https://www.ijfifsa.ir/article_144458.html L1 - https://www.ijfifsa.ir/article_144458_9f7408eb7d17a4db36222bee4c2190bc.pdf ER -