چکیده:
Anomaly output vibrancy has priority to some cases like portfolio diversification, active management
portfolio and relation between risk and reward; also examination of impact factors on it could be
important. In this research is evaluated about impact of finance reporting quality and time passage on output of anomaly stock in accepted companies in Tehran Stock Exchange for five years period
(between 2009 to 2013). In this study are used from two models of Decho & Dicho and Francis for
measurement the finance reporting quality and time passage. Also in this research linear regression is used for data analysis. This study is application type and also in terms of inference is descriptionanalytical (apriority) and in terms of research plan is scientific. Variables of finance reporting quality (FQR2), vibrancy of yearly stock output (VCF) and variable of book value to market value (BM) with significant level of less than 0.05 have significant impact on relative variable. Variables of investment stock ratio (INST) with significant level of more than 0.05 have no significant impact on relative variable, so these variables have no significant impact on anomaly vibrancy of stock output.
خلاصه ماشینی:
In this research is evaluated about impact of finance reporting quality and time passage on output of anomaly stock in accepted companies in Tehran Stock Exchange for five years period (between 2009 to 2013).
So this research is done to answer to this question that, finance reporting quality has impact on vibrancy of stock anomaly output in accepted companies in Tehran stock exchange?
Hypotheses of the research In this research is attempted to examination the impact of finance reporting quality and time lapsing on anomaly vibrancy of Stock returns in accepted companies in Tehran stock exchange.
So hypotheses of the research are presented as following: First main hypothesis: finance reporting quality has impact on anomaly vibrancy of Stock returns.
Second subsidiary hypothesis: finance reporting quality based on accruals square model has impact on anomaly vibrancy of Stock returns.
VAR= β1 + β 2 EQ1 i,t + β 3 VCFO i,t + β 4 BM i,t + β5 INST i,t + β 6CFO i,t + β 7SIZE i,t + β 8LEV i,t + ei,t Table 8: results of model estimation with synthetic data method (panel data) Dependent variable: anomaly vibrancy of share market (VAR) Significance level T-test Standard deviation Coefficient of variables variables 0.
So the first hypothesis of this research (significant impact of finance reporting quality on anomaly vibrancy of Stock returns) is confirmed.
Finance leverage LEV Suggestions about the research Based on results of this research, the hypothesis of this study (significant impact of finance reporting quality on anomaly vibrancy of Stock returns) is proved.