The Relation Between Voluntary Disclosure and Performance of Firms Listed in Tehran Stock Exchange

To restrict undesirable investor’s perception and create awareness about future prospects، companies may make voluntary disclosure. Providing voluntary information about identification، measurement and disclosure of accounting numbers in financial statements lead to attract investors and effectively help to improve the company''s financial position and managerial popularity. The aim of this study is to investigate the relation between voluntary disclosure and performance of firms listed in Tehran Stock Exchange. Based on 80 companies information during 2002 to 2011، the results show that there is no significant relation between voluntary disclosure and return on assets and return on equity; but there is a significant positive relation between voluntary disclosure and efficiency scores calculated by Data Envelopment Analysis as a comprehensive measure of performance.