رامین پرورپور

  a strong board can play a key role in increasing firm performance and value , leading to value creation. as a result, properly performing duties and responsibilities can be effective on attracting investment opportunities. on the other hand, under the ethical risk model, managers who are not adequately monitored over their performance may benefit from the information advantage that may be more or more efficient than the optimum level; therefore information asymmetry could affect the effectiveness of firms ' investment. the purpose of this study is to investigate the relationship between board characteristics and investment efficiency in tehran stock exchange (tse) and also the effect of information asymmetry on this relationship. this research investigates the financial information of ۱۳۲ firms accepted in tehran stock exchange during the years ۱۳۹۲ - ۱۴۰۰. the analysis of the findings indicates that the characteristics of the board have a direct and significant relationship with investment efficiency and asymmetry of information asymmetry moderates the relationship between board characteristics and investment efficiency. the results indicate that the board affects the performance of the company through the supervision and maintenance of relationships with shareholders, and also good corporate communications with reducing information asymmetry and applying better governance on management increases investment efficiency