خلاصة:
One of the criteria for evaluating the world's reputable stock exchanges is the volume of stock transactions. This research studies the impact of capital increase through rights issues on the trading volume of common stocks of companies listed on the Iran Stock Exchange during the years 1373 to 1382. The results of the research show that, first, there is a significant relationship between the announcement of capital increase through rights issues and changes in stock trading volume, such that the average stock trading volume decreased in the week of the announcement, and in the first week after the announcement, it decreased sharply again; however, in the upward trend of trading volume, it has somewhat corrected previous movements, although the trading volume is lower compared to before the announcement of the capital increase news. Second, there is no significant relationship between the type of industry and the change in stock trading volume resulting from the announcement of capital increase through rights issues. This indicates that in the Iranian market, in response to capital increase news, the type of industry receives less attention.
ملخص الجهاز:
Investigating the Impact of Capital Increase via Preemptive Rights on Stock Trading Volume in the Iran Stock Exchange Zakieh Shoushtarian* Ali Akbari** Islamic Azad University, Marvdasht Branch Abstract One of the criteria for evaluating the world's reputable stock exchanges is the volume of stock transactions.
This research studies the impact of capital increase via preemptive rights on the trading volume of common stocks of companies listed on the Iran Stock Exchange during the years 1373 to 1383.
In this research, we also aimed to investigate the impact of capital increase through cash contributions and receivables on the trading volume of stocks of companies listed on the Iran Stock Exchange.
Identifying the impact of the announcement of share issuance on market price, volume, and the number of stock trades, as well as determining their causes, is of special importance both to experts in terms of developing theoretical studies and to shareholders, investors, analysts, and financial managers of companies for decision-making purposes.
Discussion and Conclusion Research findings, based on data analysis and hypothesis testing using statistical methods, indicate that first, there is a significant relationship between the announcement of capital increase news through cash contributions and receivables and the change in stock trading volume in the Iranian stock exchange, such that the average stock trading volume after the announcement of said news has decreased compared to before it.
937 and is greater than 5%, therefore the null hypothesis Ho is not rejected, which means that there is no significant relationship between the type of industry and the change in stock trading volume resulting from the announcement of capital increase news through cash contributions and receivables.
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