چکیده:
Finance reporting with quality and clear finance statement could eventuate to important economic
results such as reduction in vibrancy of anomaly stock output. In other words, how much the finance statement of companies, specially reported profit by firms, be more quality; based on efficient market theory, it is expected this information peers in stock price, so price of stock will have less vibrancy. 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 description-analytical (apriority) and in terms of research plan is scientific. Variables of time (T); variable of book value to market value (BM) with significant level of less than 0.05 have significant impact on relative variable. Variables of yearly stock output (RET) 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).
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.
000 Significance level of model Results of model estimation with panel data regression method (dependent variable: current operational cash flow) show that coefficient of model determination is equal with 0.
VAR= β1 + β 2 EQ1 i,t + β 3 VCFO i,t + β 4 BM i,t + β INST i,t + β 6 RET i,t + β 7CFO i,t + β 8SIZE i,t + β 9LEV i,t + ei,tTable 6: 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.
07 1/056334 0/565090 0/565878 T R2=0/38 D-W=2/6 F=1/63 PROB-F=0/0022 Results of model estimation with panel data synthetic regression method (dependent variable: anomaly vibrancy of Stock returns) show that coefficient of model determination is equal with 0.
45 365891/8 LEV 0/000 4/18/214 0/089956 0/376126 RET2 0/003 -2/434466 2/898900 -0/201233 T R2=44 D-W=1/70 F=2/97 Prob- F=0/0000 Results of model estimation with panel data synthetic regression method (dependent variable: anomaly vibrancy of Stock returns) show that coefficient of model determination is equal with 0.