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Title

THE RELATIONSHIP BETWEEN NET SHARE VALUE AND TRADE VALUE OF COMPANIES LISTED ON TEHRAN STOCK EXCHANGE IN SECURITIES MARKET BOOM AND BUST CYCLES

Pages

 Start Page 39 | End Page 54

Abstract

 The main aim of the present study is to explore the relationship between NET SHARE VALUE and TRADE VALUE of companies listed on Tehran Stock Exchange in securities market BOOM AND BUST CYCLES. In this study, NET SHARE VALUE is considered as independent variable and BOOM AND BUST CYCLES as moderating variable, in order to study their effect on the variables of TRADE VALUE of companies listed on Tehran Stock Exchange. Research population in this study includes all companies listed on Tehran Stock Exchange during the period from 2008 to 2013 and finally, research sample volume is consisted of 112 companies based on systematic elimination method. Results obtained from regression analysis of firm data at 95% confidence level with the use of panel data with fixed effects indicated that there is a direct relationship between NET SHARE VALUE and TRADE VALUE of companies listed on Tehran Stock Exchange during BOOM AND BUST CYCLES. Also, it was indicated that the severity of the relationship between NET SHARE VALUE and TRADE VALUE of companies has a significant difference in BOOM AND BUST CYCLES, in a way that the severity of the relationship between NET SHARE VALUE and TRADE VALUE of companies in boom cycles is larger than in bust cycles.

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