Abstract:

This article aims to examine the impact of the determinants of profit forecast by companies on the level of detail of information disseminated by the leaders. It analyzes the contribution of publications to reduce information asymmetry between managers and investors.

From a sample of 50 companies listed on the stock exchange of Tunis (Tunis Stock Exchange) in 2010, our results show that the most successful companies are able to provide profit forecasts detailed and reliable than others in order to maximize their financial value. They also show that companies belonging to high-tech sectors provide more detailed and credible than others.

These results suggest that the publication of reliable information is an important determinant of investor behavior.