Study of the Effect of Information Disclosure on the Relationship between Unrealized Dividends, Abnormal Return and Abnormal Trading Volume

Abstract

This paper is aimed to study the effect of information disclosure on the relationship between unrealized dividends, abnormal returns and abnormal trading volume in the listed companies of Tehran Stock Exchange. This research has two statistical hypotheses and was performed using a correlation analysis method and it has the nature of applied researches. To test the research hypotheses, combined data analysis approach was used in which a sample of 80 companies listed on the Tehran Stock Exchange between 2008 and 2012 was considered. The results show that the increase of unrealized dividends and the abnormal stock return has led to the increase of stock trading volume in companies with a good quality of disclosure.