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Mohammad Omid Akhgar

Mohammad Omid Akhgar

Academic rank: Associate Professor
ORCID:
Education: PhD.
ScopusId: 57188834769
Faculty: Faculty of Humanities and Social Sciences
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Research

Title
Investigation the Effects of Restatement of Tehran Stock Exchange’s Firms on Information Risk
Type
JournalPaper
Keywords
Restatements, Information risk, Cost of capital
Year
2013
Journal European Journal of Economics, Finance and Administrative Sciences(نا متعبر از تاريخ 17/6/94)
DOI
Researchers Mohammad Omid Akhgar ، arazoo alikhani ، soraya jelvezan

Abstract

Restatement of financial statements has new information to the market that shows not only the previous problems, but also is a forecast of company’s future problems. We examine the association between accounting restatements and the pricing of information risk. For this purpose we use the Fama and French three-factor model augmented with discretionary risk factors. In period of 2002 to 2010, we use 115 companies that are listed in Tehran Stock Exchange. We find a significant increase in the factor loadings on the discretionary information risk factor for restatement firms after a restatement announcement. Also, we find that there is a significant relationship between restatements initiated by a firm’s auditor, number of times a firm restates and information risk.