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Paper Information

Journal:   FINANCIAL KNOWLEDGE OF SECURITY ANALYSIS (FINANCIAL STUDIES)   SUMMER 2012 , Volume 5 , Number 14; Page(s) 41 To 57.
 
Paper: 

EVALUATION OF FACTORS AFFECTING PRICE EARNINGS RATIO OF LISTED COMPANIES IN TEHRAN STOCK

 
 
Author(s):  ROSHAN S.A., ARIYAN A., HOSSEINI S.H., NAVABI ZAND K., DARIKANDEH A.
 
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Abstract: 

Price to earnings ratio is widely used by investors and for investors has a major role in investment decisions. Hence having a scientific understanding of the price to earnings ratio and ability to identify factors affecting has great importance. Based on previous empirical studies and findings about factors affecting price earnings ratio and also according to the Gordon basic model, the major factors is selected. Independent variable of research includes the growth rate of dividends, the coefficient of dividends payments and systematic risk (beta). The sample includes 41 companies from the companies listed in Tehran Stock Exchange between 84 to 88 years. This study uses panel data and multiple regression analysis and Tested the hypothesis by E-views software. The results showed that the growth rate of dividends and the coefficient of dividends payments have a positive impact on P/E ratio and beta with negative impact on the P/E ratio.

 
Keyword(s): THE PRICE TO EARNINGS RATIO, GROWTH RATE OF DIVIDENDS, COEFFICIENT OF DIVIDENDS PAYMENTS, SYSTEMATIC RISK (BETA)
 
References: 
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  Persian Abstract Yearly Visit 76
 
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