The Impact of Managerial Short-Term Orientation on Voluntary Disclosure

Authors

https://doi.org/10.22105/aaa.v3i2.103

Abstract

The objective of this study is to examine the effect of managerial short-termism on voluntary information disclosure in companies listed on the Tehran Stock Exchange. Methodologically, the study is descriptive–correlational in nature, and in terms of research design, it is quasi-experimental and ex post facto. The statistical population comprises all companies listed on the Tehran Stock Exchange over the period 2017–2024. Using a screening (filtering) sampling method, 149 companies were selected as the final sample. Data analysis was conducted using multiple regression analysis at a 95% confidence level, and the research hypotheses were tested using Stata software (version 17). The results indicate that managerial short-termism has a positive and significant effect on voluntary disclosure of information, and the research hypothesis is supported at the 95% confidence level. Furthermore, the findings show that the control variables of firm size and financial leverage have a positive and significant relationship with voluntary disclosure, whereas Return On Assets (ROA) exhibits a negative and significant relationship with the dependent variable. The coefficient of determination suggests that the independent and control variables explain a substantial proportion of the variation in voluntary disclosure. Diagnostic tests also indicate an appropriate model fit, absence of autocorrelation, and no multicollinearity among variables. Overall, the findings suggest that managerial short-term orientation, alongside firms’ financial characteristics, plays an important role in shaping voluntary disclosure policies. Accordingly, consideration of managers’ time horizons can contribute to enhancing information transparency and improving capital market efficiency. 

Keywords:

Managerial short-termism, Voluntary information disclosure, Firm size, Financial leverage, Return on assets

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Published

2026-09-03

Issue

Vol. 3 No. 3 (2026): Accounting and Auditing with Applications (AAA)

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How to Cite

Taghipour, H. ., Sari, M. A. ., & Soleymani Marshak, M. . (2026). The Impact of Managerial Short-Term Orientation on Voluntary Disclosure. Accounting and Auditing With Applications , 3(3), 179-196. https://doi.org/10.22105/aaa.v3i2.103

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