THE EFFECT OF ROA, ROE AND FINANCIAL LEVERAGE ON THE STOCK PRICES OF LISTED COMPANIES IN TEHRAN STOCK EXCHANGE

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SALEHNEJAD S.H.; GHAYOUR V.R.

مرکز اطلاعات علمی Scientific Information Database (SID) - Trusted Source for Research and Academic Resources

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Paper Information

Journal: JOURNAL OF INDUSTRIAL STRATEGIC MANAGEMENT (PAJOUHESHGAR) Year:2010 | Volume:7 | Issue:18 Page(s): 17-27

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Title

THE EFFECT OF ROA, ROE AND FINANCIAL LEVERAGE ON THE STOCK PRICES OF LISTED COMPANIES IN TEHRAN STOCK EXCHANGE

Author(s)

SALEHNEJAD S.H. | GHAYOUR V.R. | Issue Writer Certificate

Keywords

ASSETS RETURNQ2

STOCKHOLDERS’ EQUITY RETURNQ2

FINANCIAL LEVERAGEQ2

PRICE STOCKQ3

Abstract

Stock price in capital markets is affected by received good and bad news from the companies. Diagnostic of effective news and figuring out its importance based on stock price sensitivity, is one of the desires of investors and capital market researches.The purpose of this research is to study the news and information resulted from financial reports in TSE in the frame of financial ratios and finding the influence amount of these ratios on the studied companies’ stock prices. For this purpose financial information of 97 accepted producing companies in TSE, were used for a fragmented period of 1378-1383. The research hypothesizes were tested by applying multivariable regression and lagged variables model in two whole and industry separated levels. The result of hypothesizes test show that in the whole companies level, ROA and ROE ratios have significant effect on stock price but FINANCIAL LEVERAGE does not. In the separated industries level, the effect results of financial ratios, on stock price, was different in each industry indicating the independence of industries from each other.

Cites

RELATIONSHIP BETWEEN FINANCIAL RATIOS AND SHARE PRICES OF AGRICULTURAL INDUSTRIES IN STOCK EXCHANGE OF IRAN

References

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APA: Copy

SALEHNEJAD, S.H., & GHAYOUR, V.R.. (2010). THE EFFECT OF ROA, ROE AND FINANCIAL LEVERAGE ON THE STOCK PRICES OF LISTED COMPANIES IN TEHRAN STOCK EXCHANGE. JOURNAL OF INDUSTRIAL STRATEGIC MANAGEMENT (PAJOUHESHGAR), 7(18), 17-27. SID. https://sid.ir/paper/151497/en

Vancouver: Copy

SALEHNEJAD S.H., GHAYOUR V.R.. THE EFFECT OF ROA, ROE AND FINANCIAL LEVERAGE ON THE STOCK PRICES OF LISTED COMPANIES IN TEHRAN STOCK EXCHANGE. JOURNAL OF INDUSTRIAL STRATEGIC MANAGEMENT (PAJOUHESHGAR)[Internet]. 2010;7(18):17-27. Available from: https://sid.ir/paper/151497/en

IEEE: Copy

S.H. SALEHNEJAD, and V.R. GHAYOUR, “THE EFFECT OF ROA, ROE AND FINANCIAL LEVERAGE ON THE STOCK PRICES OF LISTED COMPANIES IN TEHRAN STOCK EXCHANGE,” JOURNAL OF INDUSTRIAL STRATEGIC MANAGEMENT (PAJOUHESHGAR), vol. 7, no. 18, pp. 17–27, 2010, [Online]. Available: https://sid.ir/paper/151497/en

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