بررسي ارتباط بين تغييرات اقلام عملياتي صورت سود و زيان و تغييرات بازده سهام شركت هاي پذيرفته شده در بورس اوراق بهادار تهران

Relation study Between Operational Items changes in Financial Statement and Stock Return Changes for Accepted Companies in TSE

Most investors believe that publishing financial statement and communicating accounting earnings will transfer information to the capital market and this information will affect on price and stock transaction amounts. Accounting always concerns the questions such as: Whether earning announcement has effect on stock return and transferring information to the capital market or not? And generally, whether these earning announcements have the efficient information about stock return or not? In this study we review the effect of changes in income statement operating items on the changes of stock return in Tehran Stock Exchange. Our sample consists of 53 companies from different accepted industries in Tehran Stock Exchange and our testing period is from 13 78 until 1382. The result showed that the capability of explaining changes in stock return by independent variables for the last years were more than the first five years.