on the Tehran Stock Exchange (TSE). The population includes 39 firms selected through systematic sampling. The data is collected from the audited financial statements of the firms provided by TSE’s website from 2007 to 2010. The results of multiple linear...

, the potential gap is determined

by comparing the reporting models (legal vs. actual). The research results indicate that the

Iranian investors as well as legal sources of information (financial, audit and TSE's reports)

use informal sources...