The Investigation of the Effect of Internal Factors on the Changes of Stock Price of Investment Companies Listed in Tehran Stock Exchange

Document Type : Research Paper

Authors

1 Associate Professor, Associate Professor of Islamic Azad University, Ali Abadctol Unit, Faculty of Accounting and Management,

2 Ph.D. student of financial management, Islamic Azad University, Research Branch, Faculty of Management and Economics, Corresponding Author

3 Member of the faculty and coach of the Accounting Department, Gorgan Center, Gorgan Branch

Abstract

The main objective of this study is to investigate the effect of internal factors include (earnings per share, dividend per share price to earnings ratio, liquidity ratio, return on assets and the capital increase), on the stock price changes of investment companies listed on the Stock Exchange Tehran stock. This research method is descriptive, and since it pays to investigate the possible cause-effect relationships through the conditions and causal factors in the past, placed among the events or retrospective studies. The study population would also be included all investment companies in the financial intermediation industry and ancillary activities, during of the time between 2007 to 2014. For data collection field and library methods. But, for analysis of data used of Excel and Eviews software. Also, by the statistical tests such as correlation and multivariate regression, t-test and Pearson correlation coefficient, used for the tested of hypotheses. The results of the main hypothesis in spite of a relationship between dependent and independent variables proposed a regression model at confidence of 95%, 3 variables of earnings per share, dividend per share and the ratio of price to earnings, liquidity ratio affects more the supply and demand and finally on the price of stock compared to other factors.

Keywords

Main Subjects

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History

  • Receive Date: 16 April 2014
  • Revise Date: 12 March 2017
  • Accept Date: 03 July 2016

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