Comparison of Accounting Earnings Informativeness in Family and Non-Family Firms Listed In Tehran Stock Exchange

Information development in recent decades has provided new opportunities for people and organizations, so interactions and communications have developed globally and new definition have emerged in different aspects of individual and social life. Accounting earnings is one of the factors whose presentation and information content have a significant impact on investors' behavior and stock price changes. This study aims to examine the effect of accounting earnings informativeness on stock prices in family and non-family firms. The research population consists of family and non-family firms listed in Tehran Stock Exchange among which the data of 23 family firms and 43 non-family firms have been collected as the sample during the fiscal years of 2007 to 2013. The research hypotheses have been tested using Spearman and regression tests. The results show that there is a significant relationship between accounting earnings informativeness and stock price in family and nonfamily firms. Moreover, the effect of accounting earnings informativeness on stock price is significantly different in family and non-family firms.