Identifying Voluntary Disclosure Indices, Corporate Governance and Information Asymmetry; Focusing on Social and Environmental Performance

This research aims to identify voluntary disclosure indices and components as well as the impact of corporate governance system on information asymmetry. This research is archival survey. In terms of survey research dimension, the statistic population, the accounting and finance’s experts’ views were used and in terms of archive the companies listed in the Tehran Stock Exchange, the purposeful sampling method and for testing the hypotheses the method of structural equation modeling and confirmatory factor analysis with partial least squares approach and Smart PLS software were used. The findings of the research show that corporate governance system mechanisms have a positive and significant effect on voluntary disclosure, financial performance and asymmetric information of companies. On the other hand, the voluntary disclosure of companies also has a positive and significant effect on the information symmetry in the capital market. The results of the research show that financial performance of companies has no significant effect on the companies’ information symmetry. Also, the effect of voluntary disclosure and financial performance as intermediary variables on the relationship between corporate governance system and information symmetry is not significant