Investigating the effect of company complexity on the relationship between managementability and lack of transparency of information

The main purpose of this study is to investigate the impact of company complexity on the relationship between management ability and lack of information transparency in listed companies in Tehran Stock Exchange. For this purpose, to measure information opacity, the ranking of three indicators of information uncertainty, information asymmetry and market metrics and availability of information areused.In order to measure management ability, model of Demerjian et al. (2012) is incorporated. The research hypotheses are tested based on a statistical sample consisting of 106 companies during a 9-year period from 2010 to 2018, using a panel data model regression model. The results show that there is a negative and significant relationship between management ability and lack of transparency of company information. Also, the complexity of the company negatively affects the relationship between management ability and lack of information transparency. In general, the results indicate that as management ability increases, information opacity decreases; so that this reduction shows the transparency of the company. However, complexity in the corporate environment affects the ability of managers to process information and reduces information transparency.