SUMMARY
Information asymmetry increases the risk of incorrect selection of market participants. As shares in hands of shareholders with private and confidential information increases, the company's stock liquidity reduces, because traders holding stocks with high information asymmetry and high liquidity risk can hardly earn abnormal profits. According to the fact that investors select their desired assets with regard to the return and risk of investment, when the risk of asset increases, investors will expect more profit. This study examines the effect of disclosure of accounting information and information asymmetry on risk of liquidity in companies accepted in Tehran Stock Exchange. To reach this goal a hypothesis has been developed. Studied sample includes 61 companies accepted in Tehran Stock Exchange during the period of 2010 to 2014. To measure the research variables, given that the type of data is combinational, panel regression has been used and for measuring of illiquidity of stocks Amihud model (2002) has been used. The findings show that information asymmetry has a direct impact on stock liquidity risk.