Paper Information

Journal:   JOURNAL OF SOCIAL SCIENCES AND HUMANITIES OF SHIRAZ UNIVERSITY   SPRING 2007 , Volume 26 , Number 1 (50); Page(s) 157 To 180.
 
Paper: 

EMPLOYING A MULTIPLE VARIABLES MODEL FOR DESCRIBING RETURNS OF THE FIRMS LISTED IN TEHRAN STOCK EXCHANGE MARKET

 
 
Author(s):  NAMAZI M., MOHAMMAD TABAR KASEGARI H.
 
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Abstract: 

The major purpose of this article was to investigate and determinate some significant economic variables effective in the stock returns of the companies in Tehran Stock Exchange Market (TSEM). In approaching this study, the effects of growth of money, price of gold coin, dollar rate, and Tehran's stock market index in stock returns were analyzed. The population of the study encompasses all firms listed in TSEM. But only those firms whose monthly stock prices, from the beginning of the year 1379 until the end of 1383, existed were selected as samples. Consequently, 195 firms were finally selected and analyzed.
In choosing the designated variables, which were effective in stock returns, first, selected firms were classified into different groups according to the size of their stock price values, then, by using "the multiple regression analysis technique", the effects of selected variables in stock returns were studied. The results of this study show that, none of the selected variables of the study, describes the returns variations.

 
Keyword(s): TEHRAN STOCK EXCHANGE MARKET, ECONOMIC VARIABLES, RETURNS OF FIRMS
 
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