The effects of financial risks on the relationship between earnings and stock returns
محل انتشار: مجله بین المللی رهبری سازمانی، دوره: 4، شماره: 2
سال انتشار: 1394
نوع سند: مقاله ژورنالی
زبان: انگلیسی
مشاهده: 357
فایل این مقاله در 15 صفحه با فرمت PDF قابل دریافت می باشد
- صدور گواهی نمایه سازی
- من نویسنده این مقاله هستم
استخراج به نرم افزارهای پژوهشی:
شناسه ملی سند علمی:
JR_IJOL-4-2_006
تاریخ نمایه سازی: 16 شهریور 1395
چکیده مقاله:
This study was conducted to investigate the effects of financial risks on the relationship between earnings per share and stock returns. The statistical population of the study consisted of the companies accepted by Tehran Stock Exchange. According to the conditions for sampling, 65 companies were selected during a period of six years from 2008 to 2013 (i.e.,390 fiscal years), and four hypotheses were set forth to achieve the purposes of the study. The first hypothesis tried to assess the relationship between earnings per share and stock returns. The second, third, and fourth hypotheses investigated the significance of the effects of three financial risks, namely liquidity, credit, and solvency risks on the relationship between earnings per share and stock returns. The hypotheses of the study were tested using linear and multiple regressions. The findings of the study indicated that there was a positive and significant relationship between earnings per share and stock returns. In addition, the results proved that the credit and solvency risks had negative and significant effects on the relationship between earnings per share and stock returns, but the effect of liquidity risk on this relationship was not significant
کلیدواژه ها:
نویسندگان
Mehri Akhavi Babi
Payame Noor University, Germi Branch, Ardabil, Iran