Investor's reaction towards the mental and objective stability of profit components in financially distressed companies

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Parandin Kaveh; JAMSHIDI NAVID BABAK; GHANBARI MEHRDAD; Baghfalaki Afshin

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Journal: FINANCIAL ENGINEERING AND SECURITIES MANAGEMENT (PORTFOLIO MANAGEMENT) Year:2020 | Volume:10 | Issue:41 Page(s): 47-68

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Title

Investor's reaction towards the mental and objective stability of profit components in financially distressed companies

Author(s)

Parandin Kaveh | JAMSHIDI NAVID BABAK | GHANBARI MEHRDAD | Baghfalaki Afshin | Issue Writer Certificate

Keywords

Investors' reactionQ1

mental stability of components of profitQ1

Objective stability of components of profitsQ1

Companies suspected of financial distressQ1

simultaneous equation systemQ2

Mishkin testQ1

Abstract

The purpose of this study was to study the reaction of investors to the objective and objective suspicion of profit components in suspected financial distress in a 11-year period from 1386 to 1396 with 1320 views in 120 companies accepted in Tehran Stock Exchange. To analyze the data and test the hypotheses, the simulation model of Mishkin (1983) and the multivariate regression model were used using the Eviews software version 10 has been used. The findings of the research indicate that investors have the mental sustainability of cash components and earnings accruals in relation to the objective stability of cash components and earnings accrual, more than actually they value it. Therefore, investors are pricing inappropriately, the profit of Companies suspected of financial distress and the capital market is not as efficient as the components of profit information. In other words, companies suspect financial distress, the investors' incorrect responses and inappropriate pricing of them.

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APA: Copy

Parandin, Kaveh, JAMSHIDI NAVID, BABAK, GHANBARI, MEHRDAD, & Baghfalaki, Afshin. (2020). Investor's reaction towards the mental and objective stability of profit components in financially distressed companies. FINANCIAL ENGINEERING AND SECURITIES MANAGEMENT (PORTFOLIO MANAGEMENT), 10(41 ), 47-68. SID. https://sid.ir/paper/369185/en

Vancouver: Copy

Parandin Kaveh, JAMSHIDI NAVID BABAK, GHANBARI MEHRDAD, Baghfalaki Afshin. Investor's reaction towards the mental and objective stability of profit components in financially distressed companies. FINANCIAL ENGINEERING AND SECURITIES MANAGEMENT (PORTFOLIO MANAGEMENT)[Internet]. 2020;10(41 ):47-68. Available from: https://sid.ir/paper/369185/en

IEEE: Copy

Kaveh Parandin, BABAK JAMSHIDI NAVID, MEHRDAD GHANBARI, and Afshin Baghfalaki, “Investor's reaction towards the mental and objective stability of profit components in financially distressed companies,” FINANCIAL ENGINEERING AND SECURITIES MANAGEMENT (PORTFOLIO MANAGEMENT), vol. 10, no. 41 , pp. 47–68, 2020, [Online]. Available: https://sid.ir/paper/369185/en

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