Effects of Turnover on Stock Price Delay in Companies Listed in Tehran Stock Exchange

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GHOLAMI REZA; NARREI BENYAMIN; Azizi Pedram

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

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Paper Information

Journal: JOURNAL OF ACCOUNTING KNOWLEDGE Year:2019 | Volume:10 | Issue:3 (38) Page(s): 33-67

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Title

Effects of Turnover on Stock Price Delay in Companies Listed in Tehran Stock Exchange

Author(s)

GHOLAMI REZA | NARREI BENYAMIN | Azizi Pedram | Issue Writer Certificate

Keywords

Company's UncertaintyQ1

Investor's AttentionQ1

Stock LiquidityQ1

Stock Price DelayQ2

TurnoverQ1

Abstract

Objective: This study examines the effects of Turnover on the Stock Price Delay in a sample of 117 companies listed in the Tehran Stock Exchange from 2011 to 2016. Method: Data was collected using document mining and referencing to databases, and then, was analyzed using Eviews software. A Panel data model was used to test the research hypotheses. Result: The results indicated that there are positive and significant relationships between the the Turnover as dependent variable and Stock Liquidity, the Company's Uncertainty and Investor's Attention as explanatory variables. The second model showed a significant and negative relationship between the Stock Price Delay as dependent variable and Turnover as explanatory variable. Therefore, the main hypothesis of the research was verified. The results also showed that Stock Liquidity has a negative and significant impact on the Stock Price Delay due to the number of trading days and the uncertainty in the company, and that Investor's Attention has no significant effect on the Stock Price Delay. Conclusion: To increase Stock Liquidity and reduce Stock Price Delays, and to assist market efficiency, it is necessary to enact and enforce appropriate rules for quick opening of trading symbol after suspension, and to indorse appropriate rules for increasing the range of stock fluctuations.

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APA: Copy

GHOLAMI, REZA, NARREI, BENYAMIN, & Azizi, Pedram. (2019). Effects of Turnover on Stock Price Delay in Companies Listed in Tehran Stock Exchange. JOURNAL OF ACCOUNTING KNOWLEDGE, 10(3 (38) ), 33-67. SID. https://sid.ir/paper/163530/en

Vancouver: Copy

GHOLAMI REZA, NARREI BENYAMIN, Azizi Pedram. Effects of Turnover on Stock Price Delay in Companies Listed in Tehran Stock Exchange. JOURNAL OF ACCOUNTING KNOWLEDGE[Internet]. 2019;10(3 (38) ):33-67. Available from: https://sid.ir/paper/163530/en

IEEE: Copy

REZA GHOLAMI, BENYAMIN NARREI, and Pedram Azizi, “Effects of Turnover on Stock Price Delay in Companies Listed in Tehran Stock Exchange,” JOURNAL OF ACCOUNTING KNOWLEDGE, vol. 10, no. 3 (38) , pp. 33–67, 2019, [Online]. Available: https://sid.ir/paper/163530/en

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