The Moderating Role of Institutional Ownership on the Relationship between Information Asymmetry and Investment Risk of Companies Listed In Tehran Stock Exchange

The main purpose of this study is to investigate the role of institutional ownership adjustment on the relationship between information asymmetry and investment risk in companies listed on the Tehran Stock Exchange during the years 1393 to 1397 "in this regard. Titles are independent variables. Institutional ownership is also an adjustable variable. Company size, financial leverage, systematic risk, and growth opportunities are also control variables. The statistical sample of the research is 116 companies. The research method is descriptivecorrelation with applied approach. The method of collecting information in the theoretical foundations section is from the library method and in the hypothetical testing section is from the financial document documenting method. In general, the hypothesis testing method is a multiple correlation and regression method. The results showed that there is a direct and significant relationship between information asymmetry and investment risk and institutional ownership reduces this relationship. There is a significant inverse relationship between institutional ownership and investment risk. The results of the control variables showed that there is a direct and significant relationship between financial leverage and investment risk and there is a significant inverse relationship between firm size and growth opportunities with investment risk.