چکیده:
owadays, Growth and value stocks are the important subjects in
capital markets. First, these two stocks based on different
variables such as estimation of their amount of risks and returns,
circumstances of obtaining returns at different periods in up and down
market conditions were realized in Tehran Stock Exchange. Then
Growth stock with Value Stock was compared through variables such as
firm size, return and risk premium. In this study, the data was collected
from 123 listed companies during years 2001 to 2008. The results show
that firm size is not suitable to realize growth and value stock from each
other. Also an investor by purchasing the growth stock obtains the risk
premium more than value stock in up market and growth stocks returns
are greater than value stock returns in Tehran stock exchange.
خلاصه ماشینی:
"In this research, growth and value stocks of Tehran Stock Exchange have been used in order to investigate that which of them a better performance in this market has based on three variables of size, risk premium and return.
On the other hand, applying corporate tax in order to encourage investment and change the investment patterns can bring about economic growth and improve income distribution in the long run 18 .
Table 1 shows the results of a long-run relationship for the case where income tax effect has been used to measure impact of direct taxes on the Gini coefficient.
(Tables 4&6) Results obtained from Error Correction show that in each period some 52percent of unbalanced ness in Gini coefficient (income inequality) has been reformed and approach its long-run process.
81 3-2-4-Results Related to Corporate Tax Impact on Income Distribution In this section, too, we can analyze the long – run coefficients after applying co- integration test and ensuring a long- time relationship.
64 4- Conclusions and Considerations Generally, the results of the study may be stated as following: Considering the long- run relationships between statistical variables affecting the Gini coefficient, it is concluded that during the years 1971- 2004 and particularly during the Third Five-Year Economic Development Plan only wealth tax, among the forms of direct taxes (including income tax, corporate tax and wealth tax) has been able to make income distribution more balanced and the two others have had a considerable role in making income distribution more unequal."