Investigating the Effect of Financial Information Disclosure on Cost of Capital with Emphasizing on Intellectual Capital

The present study examines Investigating the Effect of Financial Information Disclosure on Cost of Capital with Emphasizing on Intellectual Capital in Companies Listed in Tehran Stock Exchange. This research is practical in terms of purpose and in terms of methodology, the correlation is of the causal type (after event). The statistical population of the study is all companies accepted in Tehran Stock Exchange and the systematic elimination sampling, 121 companies were selected as sample and were investigated in the period of 6 years between 2012 and 2017. The method used to collect information is a library and data are collected for measuring variables from the codal website and corporate financial statements and in Excel, basic calculations have been made then, to test the hypotheses of the software Eviews and panel data regression model was used. The results of the research show that Disclosure of financial information has a significant reverse effect on the cost of capital. Intellectual capital affects the relationship between disclosure of financial information and cost of capital. Also, the added value of capital employed affects the relationship between disclosure of financial information and cost of capital. And the added value of human capital affects the relationship between disclosure of financial information and the cost of capital.