Relationship between social responsibility disclosure and institutional ownership

The purpose of this study is to investigate the relationship between the dates of predicted profit and stated profit with the news by the listed companies on the Stock Exchange in Tehran. This study provides evidences in relation to capital market inefficiency. From this perspective' managers state the predicted profit freedom to provide in a specified time interval, (Including working days and holidays in stock exchange) can lead to this consequence that the behavior of investors, is not commensurate with the type of news. For example, when negative news on the expected profit will be announced on Thursday, psychologically, until Saturday, the investor will accept the news, So instead, this share has three consecutive negative price, it may has a negative price just for one day. Conversely, when the news of profits and expected profit is positive, its announcement in working days can have positive effects on the share price of stock exchange.The statistical population included 107 companies which have been selected during the period from 1385 till 1390. This study is a descriptive - correlative research and can be applied as an objective one. The method of data collection is library research. The findings indicate that there is a significant positive relationship between negative news of the profits expected and the date of this announcement in holidays. In addition, there is a significant positive relationship between positive news of the profits expected and the date of this announcement in working days of Stock Exchange.