THE RELATIONSHIP BETWEEN ACCOUNTING VARIABLES AND STOCK PRICE MOVEMENTS IN TEHRAN STOCK EXCHANGE (TSE)

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POURHEYDARI OMID

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Journal: THE IRANIAN ACCOUNTING AND AUDITING REVIEW Year:2010 | Volume:17 | Issue:60 Page(s): 23-40

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Title

THE RELATIONSHIP BETWEEN ACCOUNTING VARIABLES AND STOCK PRICE MOVEMENTS IN TEHRAN STOCK EXCHANGE (TSE)

Author(s)

POURHEYDARI OMID | Issue Writer Certificate

Keywords

STOCK PRICEQ2

EARNINGS YIELDQ3

CAPITAL INVESTMENTQ3

CHANGES IN PROFITABILITYQ3

GROWTH OPPORTUNITIESQ3

DISCOUNT RATESQ3

Abstract

This study investigated the relationship between accounting Variable and STOCK PRICE movements. I study EARNINGS YIELD, CAPITAL INVESTMENT, CHANGES IN PROFITABILITY and GROWTH OPPORTUNITIES, as a cash flow related factors, and DISCOUNT RATES that based on theoretical evidences influence stock returns. My model is based on Chen and Zhang [10] study, who relates returns to EARNINGS YIELD, equity CAPITAL INVESTMENT, CHANGES IN PROFITABILITY, GROWTH OPPORTUNITIES, and DISCOUNT RATES. Based on pooled sample my finding indicated that EARNINGS YIELD, CAPITAL INVESTMENT, CHANGES IN PROFITABILITY and DISCOUNT RATES influence stock movements. Empirical results confirm the predicted roles of all identified factors. The model explains about 30% of the cross-sectional return variation, with cash-flow-related factors (as opposed to changes in DISCOUNT RATES) accounting for most of the explanatory power. The properties of the model are robust across various periods.

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APA: Copy

POURHEYDARI, OMID. (2010). THE RELATIONSHIP BETWEEN ACCOUNTING VARIABLES AND STOCK PRICE MOVEMENTS IN TEHRAN STOCK EXCHANGE (TSE). THE IRANIAN ACCOUNTING AND AUDITING REVIEW, 17(60), 23-40. SID. https://sid.ir/paper/8022/en

Vancouver: Copy

POURHEYDARI OMID. THE RELATIONSHIP BETWEEN ACCOUNTING VARIABLES AND STOCK PRICE MOVEMENTS IN TEHRAN STOCK EXCHANGE (TSE). THE IRANIAN ACCOUNTING AND AUDITING REVIEW[Internet]. 2010;17(60):23-40. Available from: https://sid.ir/paper/8022/en

IEEE: Copy

OMID POURHEYDARI, “THE RELATIONSHIP BETWEEN ACCOUNTING VARIABLES AND STOCK PRICE MOVEMENTS IN TEHRAN STOCK EXCHANGE (TSE),” THE IRANIAN ACCOUNTING AND AUDITING REVIEW, vol. 17, no. 60, pp. 23–40, 2010, [Online]. Available: https://sid.ir/paper/8022/en

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