THE RELATION OF THE EFFECTIVE TAX RATE WITH DIVIDEND POLICY AND THE FUTURE STOCK RETURN IN LISTED COMPANIES IN TEHRAN STOCK EXCHANGE

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GOLESTANI SHAHRAM; DELDAR MOSTAFA; SEYYEDI SEYED JALAL; JAFARI SHOORCHE SEYED HABIB

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Journal: Journal of Economic Research and Policies Year:2014 | Volume:22 | Issue:70 Page(s): 181-204

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Title

THE RELATION OF THE EFFECTIVE TAX RATE WITH DIVIDEND POLICY AND THE FUTURE STOCK RETURN IN LISTED COMPANIES IN TEHRAN STOCK EXCHANGE

Author(s)

GOLESTANI SHAHRAM | DELDAR MOSTAFA | SEYYEDI SEYED JALAL | JAFARI SHOORCHE SEYED HABIB | Issue Writer Certificate

Keywords

POLICY DIVIDENDQ2

STOCK RETURNQ3

EFFECTIVE TAX RATEQ2

TEHRAN STOCK EXCHANGEQ2

Abstract

Effective tax rate as one of the most important indicators of tax efficiency has wide applications in economic decisions and policy making. This rate can also be used as a tool for leading investment. This paper investigates the relation of the EFFECTIVE TAX RATE with dividend policy and STOCK RETURN in listed companies in TEHRAN STOCK EXCHANGE. The study sample included 67 companies listed in TEHRAN STOCK EXCHANGE during the period 1380-1389. For data analyze and hypothesis testing linear multivariable regression model (OLS) base on cumulative data (pool) has been used. The research results show EFFECTIVE TAX RATE has a negative and significant effect on dividend policy. Indeed, while increasing EFFECTIVE TAX RATE, the companies significantly reduce their dividend. Also, results of this study show there is significant and positive relationship between EFFECTIVE TAX RATEs and future STOCK RETURN. In other words, increasing of EFFECTIVE TAX RATE, promotes the annual return rate.

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APA: Copy

GOLESTANI, SHAHRAM, DELDAR, MOSTAFA, SEYYEDI, SEYED JALAL, & JAFARI SHOORCHE, SEYED HABIB. (2014). THE RELATION OF THE EFFECTIVE TAX RATE WITH DIVIDEND POLICY AND THE FUTURE STOCK RETURN IN LISTED COMPANIES IN TEHRAN STOCK EXCHANGE. JOURNAL OF ECONOMIC RESEARCH AND POLICIES, 22(70), 181-204. SID. https://sid.ir/paper/89538/en

Vancouver: Copy

GOLESTANI SHAHRAM, DELDAR MOSTAFA, SEYYEDI SEYED JALAL, JAFARI SHOORCHE SEYED HABIB. THE RELATION OF THE EFFECTIVE TAX RATE WITH DIVIDEND POLICY AND THE FUTURE STOCK RETURN IN LISTED COMPANIES IN TEHRAN STOCK EXCHANGE. JOURNAL OF ECONOMIC RESEARCH AND POLICIES[Internet]. 2014;22(70):181-204. Available from: https://sid.ir/paper/89538/en

IEEE: Copy

SHAHRAM GOLESTANI, MOSTAFA DELDAR, SEYED JALAL SEYYEDI, and SEYED HABIB JAFARI SHOORCHE, “THE RELATION OF THE EFFECTIVE TAX RATE WITH DIVIDEND POLICY AND THE FUTURE STOCK RETURN IN LISTED COMPANIES IN TEHRAN STOCK EXCHANGE,” JOURNAL OF ECONOMIC RESEARCH AND POLICIES, vol. 22, no. 70, pp. 181–204, 2014, [Online]. Available: https://sid.ir/paper/89538/en

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