Investigating the impact of internet financial reporting on companies' information asymmetry

Using the Internet as one of the channels for disseminating company information is a phenomenon that has been growing and developing in recent years. Accounting information is also of high value in the capital markets, and the capital market needs this supplementary information as well as published accounting reports. Internet reporting is also one of the important sources of information that potentially; It complements other accounting reports published in the capital market and reduces the information asymmetry of stocks. Therefore, in this research, the effect of Internet financial reporting percentage on information asymmetry of companies has been investigated. The statistical population of the research is all manufacturing companies admitted to the Tehran Stock Exchange from the beginning of 2019 to the end of 2021. The research sample includes 111 companies that were selected using the systematic elimination method. In order to test the hypothesis, the method of correlation between variables and multivariate regression equations was used through panel data method. The results of the hypothesis test indicated that the percentage of Internet financial reporting and its criteria, the percentage of content items of Internet financial reporting and the percentage of items of the presentation of Internet financial reporting had a significant and negative effect on the information asymmetry of companies admitted to the Tehran Stock Exchange. . When the companies admitted to the Tehran Stock Exchange publish their financial reports on their website, they make the information available to investors faster and before the content of the information is reduced, it is used in economic decisions. Also, due to the asymmetry of information that exists between people inside the company and investors, investors are uncertain about the future state of the company. One of the ways to reduce information asymmetry is to publish company reports through different channels. The Internet is one of the company's communication channels, which makes financial and non-financial information available to investors, reduces information asymmetry, and reduces investors' uncertainty about the future state of the company.