INFLATION AND NOMINAL FINANCIAL REPORTING: IMPLICATIONS FOR PERFORMANCE AND STOCK PRICES

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MOJTAHED ZADEH VIDA; NEITAS DORNAZ

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Paper Information

Journal: JOURNAL OF ACCOUNTING KNOWLEDGE Year:2012 | Volume:2 | Issue:7 Page(s): 27-46

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Title

INFLATION AND NOMINAL FINANCIAL REPORTING: IMPLICATIONS FOR PERFORMANCE AND STOCK PRICES

Author(s)

MOJTAHED ZADEH VIDA | NEITAS DORNAZ | Issue Writer Certificate

Keywords

NOMINAL FINANCIAL REPORTINGQ3

INFLATIONQ2

UNRECOGNIZED INFLATION GAINS OR LOSSESQ3

ABNORMAL RETURNQ2

Abstract

This study investigates the implication of NOMINAL FINANCIAL REPORTING for firm's performance and stock prices under INFLATIONary condition. This requires examination of the relationship between unrecognized INFLATION gains or losses as independent variable with each of variables for future operating cash flows, future cash flows from sale of assets and ABNORMAL RETURNs on portfolios from unrecognized INFLATION gains or losses as dependent variables. The independent variable was calculated by INFLATION adjustment algorithm (Konchitchki, 2009), and the relationship between independent and dependent variables was examined by the models of Barth, Cram, and Nelson (2001), Konchitchki (2009), and Fama and French (1993). Also, the hypotheses were tested, using Pearson statistical analysis method. Using data for 98 listed companies in Tehran Stock Exchange from March 2000 to February 2009, the results show the higher the unrecognized INFLATION gains or losses of a firm, the lower is expected to be the future operating cash flows. Moreover, such a firm tends to sell its fix assets and has lower stock returns in future.

Cites

THE INFORMATION CONTENT OF INFLATION-ADJUSTED EARNINGS

References

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APA: Copy

MOJTAHED ZADEH, VIDA, & NEITAS, DORNAZ. (2012). INFLATION AND NOMINAL FINANCIAL REPORTING: IMPLICATIONS FOR PERFORMANCE AND STOCK PRICES. JOURNAL OF ACCOUNTING KNOWLEDGE, 2(7), 27-46. SID. https://sid.ir/paper/163484/en

Vancouver: Copy

MOJTAHED ZADEH VIDA, NEITAS DORNAZ. INFLATION AND NOMINAL FINANCIAL REPORTING: IMPLICATIONS FOR PERFORMANCE AND STOCK PRICES. JOURNAL OF ACCOUNTING KNOWLEDGE[Internet]. 2012;2(7):27-46. Available from: https://sid.ir/paper/163484/en

IEEE: Copy

VIDA MOJTAHED ZADEH, and DORNAZ NEITAS, “INFLATION AND NOMINAL FINANCIAL REPORTING: IMPLICATIONS FOR PERFORMANCE AND STOCK PRICES,” JOURNAL OF ACCOUNTING KNOWLEDGE, vol. 2, no. 7, pp. 27–46, 2012, [Online]. Available: https://sid.ir/paper/163484/en

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