Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 33122
To Be Smooth of The Interest and Output of Accepted Companies Stock at Negotiable Paper Exchange of Tehran
Authors: Mohammad Hadi Zohdi, Mohamad Reza Dalvand, Maryam Zohdi
Abstract:
In this research relationship between to be smooth the interest and output of accepted companies stock at negotiable paper exchange of Tehran is studied. Static community capacity included 363 companies member of negotiable paper exchange of Tehran that 54 companies were, by considering research limitation, selected from 2004 to 2009. Needed data for model test in librarian method was chosen from RAH AVARDE NOVIN informative banks, TADBIR and collecting needed data was selected from Tehran negotiable paper exchange archive. Given results show that in spite of belief among people based on companies have more smooth interest have more output, but resulted outcomes of test-done reveals that there is no relation between smooth interest and stock output.Keywords: Smooth interest, interest fluctuation, interest level, output average, cost capital
Digital Object Identifier (DOI): doi.org/10.5281/zenodo.1329693
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1245References:
[1] Albert, W.D. and Richardson, F.M., 1990, Income Smoothing by Economy Sector, Journal of Business Finance and Accounting, Vol. 17, pp. 713-730.
[2] Baltagi,B, "Eonometric Analysis of Panel Data", third Edition, Wiley& Sons, Ltd, 2005.
[3] Bildik, R. & Gulay, G., "Profitability of Contrarian vs. Momentum Strategies: Evidence from the Istanbul Stock Exchange", 2000, Available at SSRN: http:// papers.ssrn.com/sol3/papers.cfm?abstract_id=315379.
[4] Chaohin Chiao, David C. Cheng, Welfeng Hung, "Overreaction after Controlling for Size and Book-to-Market Effects and its Mimicking Portfolio in Japan", Review of Quantitative Finance and Accounting, VOL. 24, 2005, PP. 65-91.
[5] Fama, E. & French, K. R., "The Cross-Section of Expected Stock Returns", Journal of Finance, VOL. 2, 1992,PP. 427-465.
[6] Fama, E. & French, K. R, "Size and Book to Market Factors in Earnings and Returns", JOURNAL OF FINANCE, Vol 50, No 1, March 1995, PP.131-155.
[7] Gordon, M. J., 1964, Postulates, Principles and Research in Accounting, The Accounting Review, Vol. 39, No. 2, pp. 251-263.
[8] Jayaraman, Sudarshan, "Earnings Volatility, Cash Flow Volatility, and Informed Trading", Journal of Accounting Research, Vol. 46 No. 4, September 2008, PP.809-851.
[9] Jensen, G. R. and Mercer, G.R., "Monetary policy and the cross-section of expected stock returns", Journal of Financial Research, 2002, Vol. 25 pp.125 - 139.
[10] McInnis, J., 2010, Earnings Smoothness, Average Returns, and Implied Cost of Equity Capital, The Accounting Review, Vol. 85, pp. 315-341.
[11] Michailidis, Grigoris and Stavros Tsopoglou and Demetrios Papanastasiou, " Is Sales Growth Associated with Market , Size and Value Factors in Returns ? Evidence from Athen Stock Exchange (1998-2003)", journal of Social Sciences , VOL. 3 NO.1 , June 2006.
[12] Michelson, S. E., J. Jordan-Wager, and C.W. Wooton, "The Relationship Between the Smoothing of Reported Income and Risk-Adjusted Returns", Journal of Economics and Finance, VOL 24 NO.2, Summer 2000, PP. 141-159.
[13] Nartea, Gilbert V. and Bert D. Ward, "Size, BM, and momentum effects and the robustness of the Fama-French three-factor model", International Journal of Manageria Finance, VOL. 5 No. 2, 2009, pp. 179-200.
[14] Rahnamay Roodposhti, Feraydoon & Hashem Valipoor, " Relevance of Accounting Earning Volatility to Determine Expected Stock Return: Empirical Evidences from Iran", International Bulletin of Business Administration, 2010, PP 3-4.
[15] Wei, S. X., and C. Zhang, "Why did individual stocks become more volatile?" Journal of Business, VOL. 79, 2006, PP. 259-292.