The Relationship between Accounting Variables and Stock Price Movements in Tehran Stock Exchange (TSE)
This study investigated the relationship between accounting Variable and stock price movements. I study earnings yield, capital investment, changes in profitability and growth opportunities, as a cash flow related factors, and discount rates that based on theoretical evidences influence stock return...
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| Format: | Article |
| Language: | fas |
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University of Tehran
2010-09-01
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| Series: | بررسیهای حسابداری و حسابرسی |
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| Online Access: | https://acctgrev.ut.ac.ir/article_21206_9e8fd9ffa02eb30de4517e651972bc92.pdf |
| _version_ | 1819122389997322240 |
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| author | Omid Pourheydari |
| author_facet | Omid Pourheydari |
| author_sort | Omid Pourheydari |
| collection | DOAJ |
| description | This study investigated the relationship between accounting Variable and stock price movements. I study earnings yield, capital investment, changes in profitability and growth opportunities, as a cash flow related factors, and discount rates that based on theoretical evidences influence stock returns. My model is based on Chen and Zhang [10] study, who relates returns to earnings yield, equity capital investment, changes in profitability, growth opportunities, and discount rates. Based on pooled sample my finding indicated that earnings yield, capital investment, changes in profitability and discount rates influence stock movements. Empirical results confirm the predicted roles of all identified factors. The model explains about 30% of the cross-sectional return variation, with cash-flow-related factors (as opposed to changes in discount rates) accounting for most of the explanatory power. The properties of the model are robust across various periods. |
| first_indexed | 2024-12-22T06:51:41Z |
| format | Article |
| id | doaj.art-94df65ef26164b7da54303b19021e255 |
| institution | Directory Open Access Journal |
| issn | 2645-8020 2645-8039 |
| language | fas |
| last_indexed | 2024-12-22T06:51:41Z |
| publishDate | 2010-09-01 |
| publisher | University of Tehran |
| record_format | Article |
| series | بررسیهای حسابداری و حسابرسی |
| spelling | doaj.art-94df65ef26164b7da54303b19021e2552022-12-21T18:35:07ZfasUniversity of Tehranبررسیهای حسابداری و حسابرسی2645-80202645-80392010-09-0117221206The Relationship between Accounting Variables and Stock Price Movements in Tehran Stock Exchange (TSE)Omid Pourheydari0دانشگاه شهید باهنر کرمانThis study investigated the relationship between accounting Variable and stock price movements. I study earnings yield, capital investment, changes in profitability and growth opportunities, as a cash flow related factors, and discount rates that based on theoretical evidences influence stock returns. My model is based on Chen and Zhang [10] study, who relates returns to earnings yield, equity capital investment, changes in profitability, growth opportunities, and discount rates. Based on pooled sample my finding indicated that earnings yield, capital investment, changes in profitability and discount rates influence stock movements. Empirical results confirm the predicted roles of all identified factors. The model explains about 30% of the cross-sectional return variation, with cash-flow-related factors (as opposed to changes in discount rates) accounting for most of the explanatory power. The properties of the model are robust across various periods.https://acctgrev.ut.ac.ir/article_21206_9e8fd9ffa02eb30de4517e651972bc92.pdfCapital InvestmentChanges in ProfitabilityDiscount Rates.Earnings Yieldgrowth opportunitiesStock Price |
| spellingShingle | Omid Pourheydari The Relationship between Accounting Variables and Stock Price Movements in Tehran Stock Exchange (TSE) بررسیهای حسابداری و حسابرسی Capital Investment Changes in Profitability Discount Rates. Earnings Yield growth opportunities Stock Price |
| title | The Relationship between Accounting Variables and Stock Price Movements in Tehran Stock Exchange (TSE) |
| title_full | The Relationship between Accounting Variables and Stock Price Movements in Tehran Stock Exchange (TSE) |
| title_fullStr | The Relationship between Accounting Variables and Stock Price Movements in Tehran Stock Exchange (TSE) |
| title_full_unstemmed | The Relationship between Accounting Variables and Stock Price Movements in Tehran Stock Exchange (TSE) |
| title_short | The Relationship between Accounting Variables and Stock Price Movements in Tehran Stock Exchange (TSE) |
| title_sort | relationship between accounting variables and stock price movements in tehran stock exchange tse |
| topic | Capital Investment Changes in Profitability Discount Rates. Earnings Yield growth opportunities Stock Price |
| url | https://acctgrev.ut.ac.ir/article_21206_9e8fd9ffa02eb30de4517e651972bc92.pdf |
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