THE IMPLICATIONS OF RETAINED AND DISTRIBUTED EARNINGS FOR FUTURE PROFITABILITY AND STOCK RETURNS

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VAKILIFARD HAMIDREZA; EFTEKHARNEJAD FERESHTEH

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Paper Information

Journal: The Financial Accounting and Auditing Researches Year:2010 | Volume:1 | Issue:4 Page(s): 77-107

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Title

THE IMPLICATIONS OF RETAINED AND DISTRIBUTED EARNINGS FOR FUTURE PROFITABILITY AND STOCK RETURNS

Author(s)

VAKILIFARD HAMIDREZA | EFTEKHARNEJAD FERESHTEH | Issue Writer Certificate

Keywords

RETAINED EARNINGSQ3

DISTRIBUTED EARNINGSQ3

FUTURE PROFITABILITYQ3

STOCK RETURNSQ2

ACCRUALSQ2

Abstract

Helping investors for making economical discisions is shown as one of the first aims of financial reporting.Investors for making financial discisions focus on FUTURE PROFITABILITY and STOCK RETURNS.In this study earnings is decomposed into retained and DISTRIBUTED EARNINGS. And then We examined the informational content of RETAINED EARNINGS components (current operating ACCRUALS, non current operating ACCRUALS and retained cash flows) and similarly DISTRIBUTED EARNINGS components (cash distributions to debt holders and cash distributions to equity holders) implications for FUTURE PROFITABILITY and STOCK RETURNS. All variables (described above) are deflated by average total assets. The sample consists of 50 firms from Tehran stock exchange for the period 2003 -2008.The results indicate that both RETAINED EARNINGS and DISTRIBUTED EARNINGS affect on FUTURE PROFITABILITY.but they have no effection on STOCK RETURNS. Similarly retained and DISTRIBUTED EARNINGS components have positive relation with FUTURE PROFITABILITY, but no relations is significant between variables and STOCK RETURNS.

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APA: Copy

VAKILIFARD, HAMIDREZA, & EFTEKHARNEJAD, FERESHTEH. (2010). THE IMPLICATIONS OF RETAINED AND DISTRIBUTED EARNINGS FOR FUTURE PROFITABILITY AND STOCK RETURNS. THE FINANCIAL ACCOUNTING AND AUDITING RESEARCHES, 1(4), 77-107. SID. https://sid.ir/paper/198128/en

Vancouver: Copy

VAKILIFARD HAMIDREZA, EFTEKHARNEJAD FERESHTEH. THE IMPLICATIONS OF RETAINED AND DISTRIBUTED EARNINGS FOR FUTURE PROFITABILITY AND STOCK RETURNS. THE FINANCIAL ACCOUNTING AND AUDITING RESEARCHES[Internet]. 2010;1(4):77-107. Available from: https://sid.ir/paper/198128/en

IEEE: Copy

HAMIDREZA VAKILIFARD, and FERESHTEH EFTEKHARNEJAD, “THE IMPLICATIONS OF RETAINED AND DISTRIBUTED EARNINGS FOR FUTURE PROFITABILITY AND STOCK RETURNS,” THE FINANCIAL ACCOUNTING AND AUDITING RESEARCHES, vol. 1, no. 4, pp. 77–107, 2010, [Online]. Available: https://sid.ir/paper/198128/en

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