The Relationship between Specific Fluctuations, Liquidity Risk, and Stock Return in Listed Companies on Tehran Stock Exchange
The main purpose of this research is to investigate the relationship between specific fluctuations, liquidity risk and stock returns in companies listed in Tehran Stock Exchange. This research reveals the importance of information such as special fluctuations and liquidity risk and their role in det...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
| Published: |
Ferdowsi University of Mashhad
2018-08-01
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| Series: | Iranian Journal of Accounting, Auditing & Finance |
| Subjects: | |
| Online Access: | https://ijaaf.um.ac.ir/article_25081_ee286032c15e636b7d0b90de3eb90457.pdf |
| _version_ | 1811240360160002048 |
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| author | Zahra Farhadi Mohammad Vahdani Abdolhossein Talebi Najafabadi Narjes Kamali Kermani |
| author_facet | Zahra Farhadi Mohammad Vahdani Abdolhossein Talebi Najafabadi Narjes Kamali Kermani |
| author_sort | Zahra Farhadi |
| collection | DOAJ |
| description | The main purpose of this research is to investigate the relationship between specific fluctuations, liquidity risk and stock returns in companies listed in Tehran Stock Exchange. This research reveals the importance of information such as special fluctuations and liquidity risk and their role in determining the additional return on portfolios of companies to assist decision making of actual and potential investors in the stock market.
In order to investigate purpose of this research, quarterly financial information of 152 companies among companies listed in Tehran Stock Exchange during the period 2012-2016 was examined. After collecting the required research data, panel data was used to test the hypotheses. Also, Eviews software has been used to test hypotheses. The results showed that special fluctuations have a positive and significant impact on liquidity risk and stock return. In addition, results showed that no reliable evidence indicating the impact of liquidity risk on stock return was found at 95% significance level. |
| first_indexed | 2024-04-12T13:17:37Z |
| format | Article |
| id | doaj.art-9f8912daf9df408ca9e3cc5412e33a15 |
| institution | Directory Open Access Journal |
| issn | 2717-4131 2588-6142 |
| language | English |
| last_indexed | 2024-04-12T13:17:37Z |
| publishDate | 2018-08-01 |
| publisher | Ferdowsi University of Mashhad |
| record_format | Article |
| series | Iranian Journal of Accounting, Auditing & Finance |
| spelling | doaj.art-9f8912daf9df408ca9e3cc5412e33a152022-12-22T03:31:37ZengFerdowsi University of MashhadIranian Journal of Accounting, Auditing & Finance2717-41312588-61422018-08-0123496010.22067/ijaaf.v3i1.7902225081The Relationship between Specific Fluctuations, Liquidity Risk, and Stock Return in Listed Companies on Tehran Stock ExchangeZahra Farhadi0Mohammad Vahdani1Abdolhossein Talebi Najafabadi2Narjes Kamali Kermani3University of bojnordUniversity of bojnordUniversity of bojnordUniversity of bojnordThe main purpose of this research is to investigate the relationship between specific fluctuations, liquidity risk and stock returns in companies listed in Tehran Stock Exchange. This research reveals the importance of information such as special fluctuations and liquidity risk and their role in determining the additional return on portfolios of companies to assist decision making of actual and potential investors in the stock market. In order to investigate purpose of this research, quarterly financial information of 152 companies among companies listed in Tehran Stock Exchange during the period 2012-2016 was examined. After collecting the required research data, panel data was used to test the hypotheses. Also, Eviews software has been used to test hypotheses. The results showed that special fluctuations have a positive and significant impact on liquidity risk and stock return. In addition, results showed that no reliable evidence indicating the impact of liquidity risk on stock return was found at 95% significance level.https://ijaaf.um.ac.ir/article_25081_ee286032c15e636b7d0b90de3eb90457.pdfspecial fluctuationsliquidity riskfama–french three-factor modelstock return |
| spellingShingle | Zahra Farhadi Mohammad Vahdani Abdolhossein Talebi Najafabadi Narjes Kamali Kermani The Relationship between Specific Fluctuations, Liquidity Risk, and Stock Return in Listed Companies on Tehran Stock Exchange Iranian Journal of Accounting, Auditing & Finance special fluctuations liquidity risk fama–french three-factor model stock return |
| title | The Relationship between Specific Fluctuations, Liquidity Risk, and Stock Return in Listed Companies on Tehran Stock Exchange |
| title_full | The Relationship between Specific Fluctuations, Liquidity Risk, and Stock Return in Listed Companies on Tehran Stock Exchange |
| title_fullStr | The Relationship between Specific Fluctuations, Liquidity Risk, and Stock Return in Listed Companies on Tehran Stock Exchange |
| title_full_unstemmed | The Relationship between Specific Fluctuations, Liquidity Risk, and Stock Return in Listed Companies on Tehran Stock Exchange |
| title_short | The Relationship between Specific Fluctuations, Liquidity Risk, and Stock Return in Listed Companies on Tehran Stock Exchange |
| title_sort | relationship between specific fluctuations liquidity risk and stock return in listed companies on tehran stock exchange |
| topic | special fluctuations liquidity risk fama–french three-factor model stock return |
| url | https://ijaaf.um.ac.ir/article_25081_ee286032c15e636b7d0b90de3eb90457.pdf |
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