THE EFFECT OF MACROECONOMIC VARIABLES ON ACCOUNTING FUTURE INCOME

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HASHEMI SEYED ABAS; AMIRI HADI; TEYMOORI ZAHRA

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Journal: The Financial Accounting and Auditing Researches Year:2017 | Volume:9 | Issue:34 Page(s): 163-190

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Title

THE EFFECT OF MACROECONOMIC VARIABLES ON ACCOUNTING FUTURE INCOME

Author(s)

HASHEMI SEYED ABAS | AMIRI HADI | TEYMOORI ZAHRA | Issue Writer Certificate

Keywords

ACCOUNTING FUTURE INCOMEQ1

MACROECONOMIC VARIABLESQ2

INCOME PREDICTINGQ2

Abstract

From past to present participants in capital markets have had a strong desire to predict the company's income to determine firm's stock price based on it. Many factors affect the company's income forecast. One group of these factors is macroeconomic information. Many studies have found a significant relationship between macroeconomic data and price Indexes and stock returns, however, few studies have been made about the effect of MACROECONOMIC VARIABLES on the accounting income. In this study, 24 MACROECONOMIC VARIABLES were selected and using principal component analysis is summarized in 4 economic criteria. Economic criteria are: the measure of labor market, the measure of output and the real economy, the measure of prices and the measure of financial conditions and exchange rates. The present study has investigated the impact of this macroeconomic factors on one year, two years and three years later income. For data analysis and hypothesis testing, multiple regression models and the combined data is used. To test the hypothesis, the sample consists of 269 companies listed in Tehran Stock Exchange. The results show that MACROECONOMIC VARIABLES are associated with future incomes, but directions of this relations varies in different time periods. Also, based on the results of redundant variables test, the variables in the model help the model to predict income more accurately.

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APA: Copy

HASHEMI, SEYED ABAS, AMIRI, HADI, & TEYMOORI, ZAHRA. (2017). THE EFFECT OF MACROECONOMIC VARIABLES ON ACCOUNTING FUTURE INCOME. THE FINANCIAL ACCOUNTING AND AUDITING RESEARCHES, 9(34), 163-190. SID. https://sid.ir/paper/197969/en

Vancouver: Copy

HASHEMI SEYED ABAS, AMIRI HADI, TEYMOORI ZAHRA. THE EFFECT OF MACROECONOMIC VARIABLES ON ACCOUNTING FUTURE INCOME. THE FINANCIAL ACCOUNTING AND AUDITING RESEARCHES[Internet]. 2017;9(34):163-190. Available from: https://sid.ir/paper/197969/en

IEEE: Copy

SEYED ABAS HASHEMI, HADI AMIRI, and ZAHRA TEYMOORI, “THE EFFECT OF MACROECONOMIC VARIABLES ON ACCOUNTING FUTURE INCOME,” THE FINANCIAL ACCOUNTING AND AUDITING RESEARCHES, vol. 9, no. 34, pp. 163–190, 2017, [Online]. Available: https://sid.ir/paper/197969/en

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