Forecast Factors Affecting the Agency Cost and Quality of Information Disclosure

With larger companies, there is no possibility the presence of all owners in the company. Therefore, owners, choose managers and directors to delegate their representatives in the company's managers. What is certain; there is a conflict of interest between the manager a one way to reduce these costs, improve the quality of information disclosure, by the firm and the owner. This is one of the agency problems and creates agency costs. The purpose of this study was to investigate the factors affecting the cost of representation Including capital structure, corporate governance and earnings management on the quality of information disclosure of listed companies in Tehran Stock Exchange. To investigate the hypothesis research, 100 companies listed on TSE in the period from 1388 to 1393 (600 year-Co) were investigated. To measure capital structure, debt ratios were used. Corporate governance, with institutional ownership and management were examined. To calculate earnings management, the model was modified Jones. Results show Capital structure, managerial ownership and earnings management, a significant negative impact on their quality. However, there was no significant relationship between institutional ownership and disclosure quality. According to the results, it is concluded that the companies can increase the quality of their disclosure to investors is a positive sign; Earnings management and board members and the number of shares in the companies to reduce their debt.