THE EFFECT OF FIRMS' GROWTH ON THE RELATION BETWEEN STOCK MARKET VALUE, BOOK VALUE AND EARNINGS

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AFLATOONI ABBAS

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Journal: The Financial Accounting and Auditing Researches Year:2016 | Volume:8 | Issue:31 Page(s): 1-21

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Title

THE EFFECT OF FIRMS' GROWTH ON THE RELATION BETWEEN STOCK MARKET VALUE, BOOK VALUE AND EARNINGS

Author(s)

AFLATOONI ABBAS | Issue Writer Certificate

Keywords

STOCK MARKET VALUEQ2

BOOK VALUEQ2

EARNINGS PER SHAREQ2

PROFITABILITYQ2

Abstract

The most empirical researches that investigate the relation between the STOCK MARKET VALUE and accounting variables (such as BOOK VALUE and EARNINGS PER SHARE), the mentioned relation are assumed to be linear. However, the empirical evidences are not compatible to this assumption. This means, if it is assumed that the relationship between STOCK MARKET VALUE, BOOK VALUE and EARNINGS PER SHARE be a linear relationship, the incorrect results will be extracted for empirical researches and applied usage. This paper investigates the effect of firms' growth on the relation between STOCK MARKET VALUEs, BOOK VALUE and accounting earnings in 149 firms listed in Tehran Stock Exchange. The research results show that when firms' PROFITABILITY increases, the effect of firms' growth on the relation between STOCK MARKET VALUE and EARNINGS PER SHARE switches from negative to positive, and the effect of firms' growth on the relation between STOCK MARKET VALUE and BOOK VALUE switches from positive to negative. Overall, the research results show that the relation between the STOCK MARKET VALUE and the mentioned variables are non-linear.

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APA: Copy

AFLATOONI, ABBAS. (2016). THE EFFECT OF FIRMS' GROWTH ON THE RELATION BETWEEN STOCK MARKET VALUE, BOOK VALUE AND EARNINGS. THE FINANCIAL ACCOUNTING AND AUDITING RESEARCHES, 8(31), 1-21. SID. https://sid.ir/paper/198216/en

Vancouver: Copy

AFLATOONI ABBAS. THE EFFECT OF FIRMS' GROWTH ON THE RELATION BETWEEN STOCK MARKET VALUE, BOOK VALUE AND EARNINGS. THE FINANCIAL ACCOUNTING AND AUDITING RESEARCHES[Internet]. 2016;8(31):1-21. Available from: https://sid.ir/paper/198216/en

IEEE: Copy

ABBAS AFLATOONI, “THE EFFECT OF FIRMS' GROWTH ON THE RELATION BETWEEN STOCK MARKET VALUE, BOOK VALUE AND EARNINGS,” THE FINANCIAL ACCOUNTING AND AUDITING RESEARCHES, vol. 8, no. 31, pp. 1–21, 2016, [Online]. Available: https://sid.ir/paper/198216/en

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