The Role of Market Capitalization in the Relationship Between ROA, ROE and Stock Prices in Tehran Stock Exchange

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Chaharmahali Ali Akbar; ZAHEDI JAVAD; MOHAMMADI REZA

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Paper Information

Journal: JOURNAL OF ASSET MANAGEMENT AND FINANCING Year:2020 | Volume:4 | Issue:4 (27) Page(s): 17-30

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Title

The Role of Market Capitalization in the Relationship Between ROA, ROE and Stock Prices in Tehran Stock Exchange

Author(s)

Chaharmahali Ali Akbar | ZAHEDI JAVAD | MOHAMMADI REZA | Issue Writer Certificate

Keywords

Return on AssetsQ1

Return on EquityQ1

Market Value Book ValueQ1

Stock PricesQ1

Abstract

Financial ratios analysis is considered among the most widely used tools for evaluating the performance of companies and investments. In this regard, ROA and ROE ratios are among the most important criterias. This study seeks evidence about the role of market capitalization in the relationship between Return on Assets and Return on Equity with Stock Prices and is compared with their book value. This study was conducted on 136 companies listed on the Tehran Stock Exchange between 2008-2016. In order to test hypotheses, we used of 8 multivariate regression. The results indicate that both of ratios with book value and market value have a significant and positive relationship with Stock Prices; But the strength of this relationship is not the same, market value has more strongest relation than book value, Return on Assets can explain the stock price changes alone and about 66% and Combined Return on Assets to book value and Return on Equity to market value have strongest correlation with the stock price changes.

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APA: Copy

Chaharmahali, Ali Akbar, ZAHEDI, JAVAD, & MOHAMMADI, REZA. (2020). The Role of Market Capitalization in the Relationship Between ROA, ROE and Stock Prices in Tehran Stock Exchange. JOURNAL OF ASSET MANAGEMENT AND FINANCING, 4(4 (27) ), 17-30. SID. https://sid.ir/paper/245720/en

Vancouver: Copy

Chaharmahali Ali Akbar, ZAHEDI JAVAD, MOHAMMADI REZA. The Role of Market Capitalization in the Relationship Between ROA, ROE and Stock Prices in Tehran Stock Exchange. JOURNAL OF ASSET MANAGEMENT AND FINANCING[Internet]. 2020;4(4 (27) ):17-30. Available from: https://sid.ir/paper/245720/en

IEEE: Copy

Ali Akbar Chaharmahali, JAVAD ZAHEDI, and REZA MOHAMMADI, “The Role of Market Capitalization in the Relationship Between ROA, ROE and Stock Prices in Tehran Stock Exchange,” JOURNAL OF ASSET MANAGEMENT AND FINANCING, vol. 4, no. 4 (27) , pp. 17–30, 2020, [Online]. Available: https://sid.ir/paper/245720/en

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