M.A. Thesis:

Information asymmetry,financial leverage and firm value

This research investigates the relationship between information asymmetry, financial leverage and company value. The present research is a descriptive-correlational research method. The statistical population is the accepted companies in the Tehran Stock Exchange Organization. For this purpose, 152 active companies have been studied in this field from 1390 to 1394. The dependent variable of this research is the value of the company and the independent variables of information asymmetry and financial leverage. The effect of these two variables as moderating variables has also been studied. The research hypotheses are as follows: 1- There is a significant relationship between information asymmetry and company value. 2- There is a significant relationship between financial leverage and company value. 3- Information asymmetry modifies the relationship between financial leverage and company value. 4- The financial leverage modifies the relationship between information asymmetry and company value. In order to investigate the relationship between variables, the data panel method was used with the Eviews software. The results of the research indicate that there is a negative and significant relationship between information asymmetry and company value. There is also a negative and significant relationship between the financial leverage and the value of the company. Finally, based on the results of information asymmetric variables and financial leverage, there is moderating role in relation to each of the independent variables with the value of the company

Keywords: Firm value, Information asymmetry, Financial leverage