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The Effect of Volatility of Earnings and Cash Flows on Stock Returns in The Listed Companies inTehran Stock Exchange
| Content Provider | Semantic Scholar |
|---|---|
| Author | Abbasnejad, Ayda Puoraghajan, A. A. Azadi, Keyhan |
| Copyright Year | 2014 |
| Abstract | one of the main criterion of decision making in stock exchange market is the stock return. Stock return alone has informational content and most of the potential and active investors use in financial analysis and estimations. The return is calculated and recognized based on the commitment. Based on the commitment approach, recognizing the incomes and costs is not along with the pay and receive the cash. In other words, in the commitment method, the principles such as realization and compatibility are used for reflecting the incomes and costs and calculating the returns. So, there is a difference between the return and cash flow and although benefiting of the commitment accounting is not deniable in financial condition and reporting the results of the operation but the need for the data about input and output of the cash flow is a reality that cannot be denied. The present study tries to investigate the relationship between the earnings and cash flow volatility with the stock return. The present study is done on 48 participants of the companies listed in Tehran stock market between the years 2008 and 2012. The results indicated that the earning volatility has a positive correlation with the stock return but it has no relationship with cash flow. In addition, there is a positive and significant relationship between the earning returns, financial lever and stock return from among the controlling variables. The controlling variable of firm size and the ration of the market value to the official ratio has negative and significant relationship with stick return. |
| File Format | PDF HTM / HTML |
| Alternate Webpage(s) | http://www.aensiweb.net/AENSIWEB/aeb/aeb/August%202014/1450-1457.pdf |
| Language | English |
| Access Restriction | Open |
| Content Type | Text |
| Resource Type | Article |
