Investigating the effect of information asymmetry on incorrect stock pricing with emphasis on the role of corporate political communication

 the reaction of investors will be unrealistic, and this can put a gap between the stock price and its intrinsic value. Therefore, the purpose of this study is to investigate the effect of information asymmetry on incorrect stock pricing with emphasis on the role of corporate political communication. The present study is applied and from a methodological point of view, causal (post-event) correlation. The statistical population of the study is all companies listed on the Tehran Stock Exchange and using the systematic elimination sampling method, 110 companies have been selected as the research sample, the statistical year of the research is 1390-1399 and because some variables are needed to calculate According to next year's data, 9 years have been used as the main research sample. To measure information asymmetry, three separate methods have been used (stock price range, amiotic liquidity criterion and stock return volatility). The measure of incorrect pricing of stocks is the 5-factor model of Pantzalis and Park (2013). The results of testing the research hypotheses showed that there is a direct and significant relationship between information asymmetry (with all three methods of measurement) and incorrect stock pricing. The result of the second set of hypotheses showed that the political relationship directly affects the relationship between information asymmetry and incorrect stock pricing and intensifies this relationship, except for the method of measuring information asymmetry with the Amihod liquidity method, which interacts with Political connection has no effect on incorrect stock pricing.