CLEAN SURPLUS ACCOUNTING: VALUE RELEVANCE OF BOOK VALUE AND EARNINGS

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MOJTAHEDZADEH V.; ALAVI TABARI S.H.; GHASEMI ZAHRA

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Journal Paper

Paper Information

Journal: THE IRANIAN ACCOUNTING AND AUDITING REVIEW Year:2008 | Volume:15 | Issue:51 Page(s): 57-68

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Information Journal Paper

Title

CLEAN SURPLUS ACCOUNTING: VALUE RELEVANCE OF BOOK VALUE AND EARNINGS

Author(s)

MOJTAHEDZADEH V. | ALAVI TABARI S.H. | GHASEMI ZAHRA | Issue Writer Certificate

Keywords

CLEAN SURPLUSQ3

RETURN ON OWNER'S EQUITYQ2

STOCK RETURNQ3

Abstract

This study attempts to predict future STOCK RETURNs by return on owners equity ratio (ROE) namely, earning to equity book value ratio and its variability both in company level and in portfolio level. Calculation of owners equity is based on Ohlsons (1989) model and CLEAN SURPLUS relation (CRS). The research of the statistical population includes 130 of companies listed in Tehran Stock Exchange during 1379 to 1384. The research results show that there is a significant relationship between ROE and future STOCK RETURN. But, the explanatory power of the ROE is stronger and more significant in portfolio level than company level. Also, the results indicate existence of a significant relation between variability of the time series ROE of a stock and the future return of that stock.

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APA: Copy

MOJTAHEDZADEH, V., ALAVI TABARI, S.H., & GHASEMI, ZAHRA. (2008). CLEAN SURPLUS ACCOUNTING: VALUE RELEVANCE OF BOOK VALUE AND EARNINGS. THE IRANIAN ACCOUNTING AND AUDITING REVIEW, 15(51), 57-68. SID. https://sid.ir/paper/8098/en

Vancouver: Copy

MOJTAHEDZADEH V., ALAVI TABARI S.H., GHASEMI ZAHRA. CLEAN SURPLUS ACCOUNTING: VALUE RELEVANCE OF BOOK VALUE AND EARNINGS. THE IRANIAN ACCOUNTING AND AUDITING REVIEW[Internet]. 2008;15(51):57-68. Available from: https://sid.ir/paper/8098/en

IEEE: Copy

V. MOJTAHEDZADEH, S.H. ALAVI TABARI, and ZAHRA GHASEMI, “CLEAN SURPLUS ACCOUNTING: VALUE RELEVANCE OF BOOK VALUE AND EARNINGS,” THE IRANIAN ACCOUNTING AND AUDITING REVIEW, vol. 15, no. 51, pp. 57–68, 2008, [Online]. Available: https://sid.ir/paper/8098/en

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