M.A. Thesis:

Management power and delayed response of stock prices to the moderating role of accounting information quality

The information role in economic decisions is very crucial and investors without sufficient information do not properly identify opportunities and risks.In order for information to influence the decisions of financial statements users,it should be available at the right time.One purpose of accounting information is to help users predict the future of return on investment.The reaction of stock price to accounting information is also one of the issues in financial field.In this research the main goal is to determine the impact of managerial power and dilatory reaction of stock price along with moderating role of accounting information quality in Tehran Stock Exchange.This research was conducted for a 5-year period between 92 to 96. After reviewing the availability,sample informations of companies studied were classified by using Excell software and analysed by Eviews software.Results showed that there is a negative relationship between the duality of manager post,manager tenure period and managerial ownership with dilatory reaction of stock price and this relationship is meaningful.Also,accounting information quality moderates the relationship between managerial position duality and management ownership with dilatory reaction of stock price and the relationship is positive and meaningful.But accounting information quality as moderating agent do not have a significant effect on the relationship between managerial tenure period and dilatory reaction of stock price.

Keywords: managerial power-dilatory reaction of stock price -accounting information quality