Investigating the Causing Relation Earning and Future Return to Existing Rational Intrinsic Bubble of Listed Companies in Tehran Stock Exchange
Considering the important role of stock market in economic development, finding this fact that whether price increases is due to fundamental elements or not can help a country’s policy makers to direct the capital market to the right direction. Therefore, this study investigates the existence of a c...
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| Format: | Article |
| Language: | fas |
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Allameh Tabataba'i University Press
2016-06-01
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| Series: | مطالعات تجربی حسابداری مالی |
| Subjects: | |
| Online Access: | https://qjma.atu.ac.ir/article_7062_96d8de79aa2db1fa8399755325b73458.pdf |
| _version_ | 1797378351530246144 |
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| author | Mohammad Hasan Gholizadeh Ismael Ramazanpour Mahsa Farkhondeh Farkhondeh |
| author_facet | Mohammad Hasan Gholizadeh Ismael Ramazanpour Mahsa Farkhondeh Farkhondeh |
| author_sort | Mohammad Hasan Gholizadeh |
| collection | DOAJ |
| description | Considering the important role of stock market in economic development, finding this fact that whether price increases is due to fundamental elements or not can help a country’s policy makers to direct the capital market to the right direction. Therefore, this study investigates the existence of a certain type of rational bubbles due to the fundamental elements which called rational intrinsic bubble during 1385 to 1392. Then, in the second phase this matter will be examined that if the earnings can predict future return regarding to intrinsic bubbles so for this purpose Vector Auto Regression model has been applied. The required data have been collected seasonally and calculated by using and Rahavard Novin Software, 65 companies selected as research samples and data has been analyzed by using Eviews7 .the analyzing results indicate that there are intrinsic bubbles in 15 companies which is due to changing of fundamental elements such as dividend. Also the results indicate that in companies in which there is not any intrinsic bubbles, earning can predict future returns. |
| first_indexed | 2024-03-08T20:06:38Z |
| format | Article |
| id | doaj.art-efa64942376a46e1a43b673e790f2690 |
| institution | Directory Open Access Journal |
| issn | 2821-0166 2538-2519 |
| language | fas |
| last_indexed | 2024-03-08T20:06:38Z |
| publishDate | 2016-06-01 |
| publisher | Allameh Tabataba'i University Press |
| record_format | Article |
| series | مطالعات تجربی حسابداری مالی |
| spelling | doaj.art-efa64942376a46e1a43b673e790f26902023-12-23T10:36:24ZfasAllameh Tabataba'i University Pressمطالعات تجربی حسابداری مالی2821-01662538-25192016-06-01135015718410.22054/qjma.2016.70627062Investigating the Causing Relation Earning and Future Return to Existing Rational Intrinsic Bubble of Listed Companies in Tehran Stock ExchangeMohammad Hasan Gholizadeh0Ismael Ramazanpour1Mahsa Farkhondeh Farkhondeh2استادیار مدیریت مالی، دانشگاه گیلاناستادیار اقتصاد، دانشگاه گیلانMahsa.farkhondeh85@yahoo.com کارشناسی ارشد مدیریت بازرگانی دانشگاه گیلان نوبیسنده مسئولConsidering the important role of stock market in economic development, finding this fact that whether price increases is due to fundamental elements or not can help a country’s policy makers to direct the capital market to the right direction. Therefore, this study investigates the existence of a certain type of rational bubbles due to the fundamental elements which called rational intrinsic bubble during 1385 to 1392. Then, in the second phase this matter will be examined that if the earnings can predict future return regarding to intrinsic bubbles so for this purpose Vector Auto Regression model has been applied. The required data have been collected seasonally and calculated by using and Rahavard Novin Software, 65 companies selected as research samples and data has been analyzed by using Eviews7 .the analyzing results indicate that there are intrinsic bubbles in 15 companies which is due to changing of fundamental elements such as dividend. Also the results indicate that in companies in which there is not any intrinsic bubbles, earning can predict future returns.https://qjma.atu.ac.ir/article_7062_96d8de79aa2db1fa8399755325b73458.pdfrational expectationsefficiency market hypothesisfundamentalsintrinsic bubblevector auto regressive (var) |
| spellingShingle | Mohammad Hasan Gholizadeh Ismael Ramazanpour Mahsa Farkhondeh Farkhondeh Investigating the Causing Relation Earning and Future Return to Existing Rational Intrinsic Bubble of Listed Companies in Tehran Stock Exchange مطالعات تجربی حسابداری مالی rational expectations efficiency market hypothesis fundamentals intrinsic bubble vector auto regressive (var) |
| title | Investigating the Causing Relation Earning and Future Return to Existing Rational Intrinsic Bubble
of Listed Companies in Tehran Stock Exchange |
| title_full | Investigating the Causing Relation Earning and Future Return to Existing Rational Intrinsic Bubble
of Listed Companies in Tehran Stock Exchange |
| title_fullStr | Investigating the Causing Relation Earning and Future Return to Existing Rational Intrinsic Bubble
of Listed Companies in Tehran Stock Exchange |
| title_full_unstemmed | Investigating the Causing Relation Earning and Future Return to Existing Rational Intrinsic Bubble
of Listed Companies in Tehran Stock Exchange |
| title_short | Investigating the Causing Relation Earning and Future Return to Existing Rational Intrinsic Bubble
of Listed Companies in Tehran Stock Exchange |
| title_sort | investigating the causing relation earning and future return to existing rational intrinsic bubble of listed companies in tehran stock exchange |
| topic | rational expectations efficiency market hypothesis fundamentals intrinsic bubble vector auto regressive (var) |
| url | https://qjma.atu.ac.ir/article_7062_96d8de79aa2db1fa8399755325b73458.pdf |
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