Information Asymmetry and Ethical View of Financial Managers

The purpose of the present study is to review the correlation between information asymmetry and the ethical view of financial managers of the accepted corporations in Tehran Stock Exchange. For measuring information asymmetry, range criterion of the difference between sell and buy proposed price was used. Besides, the ethical view of financial managers was evaluated using the questionnaire of moral condition. In this research, 72 accepted corporations in the Tehran Stock Exchange in 2017 were studied. Partial least squares regression and Smart PLS software were used for hypothesis testing of the research. The results showed that there is significantly negative correlation between information asymmetry and idealistic view of financial managers in Tehran Stock Exchange. Moreover, a significantly positive correlation was observed between information asymmetry and relativist view of financial managers of Tehran Stock Exchange. As a result, the idealistic moral view of managers decreases information asymmetry.