M.A. Thesis:

Auditor Features, Company Information Demand and Company Profitability

One of the important factors in solving the economic and developmental problems of companies is the expansion of the efficiency of their investments, as under these conditions the attractiveness of the capital market is preserved as one of the economic pillars of each country, and investors are seeking to increase their capital Invest in these markets. The Purpose of this research is Auditor Features, Company Information Demand and Investment efficiency. In this research, 98 Tehran Stock Exchange companies were investigated in a period of 5 years between 2013 and 2017. In this research, information demand as a moderating variable was measured by means of two criteria of standard deviation of annual returns and index of industry competitiveness in the form of a comprehensive index. Also, the characteristics of auditors were measured based on the three criteria of the tenure period, auditor's size and auditor's expertise, and finally regression was used to measure the efficiency of corporate investment. The results are presented in the form of six hypotheses. It has been stated that the size of auditor and auditor's specialty have a positive and significant effect on investment performance, while the auditor's tenure has a negative and significant effect on investment efficiency. Also, information demand as a moderating variable played a role in increasing the influence of the auditor's size and auditor's expertise on investment efficiency. Also, the negative impact of the tenure on investment performance was positively corrected.

Keywords: Auditor Features, Company Information Demand and Investment efficiency