-
غلامرضا اسلامى
بیدگلى
author
عبدالحسین صادقى
باطانى
author
text
article
2004
per
-
Financial Research Journal
University of Tehran
1024-8153
6
v.
2
no.
2004
https://jfr.ut.ac.ir/article_11353_46bf0f773519b0dcbcf96c3b20d306c7.pdf
-
امید
پورحیدرى
author
text
article
2004
per
This study provides new evidence on the relationship between market- to-book equity ratio (MTB) and earning-to- book equity ratio (MTB) in TSE in 1376-1381. By investigation this relationship it is possible to study how current profitability is reflected in investors’ cash flow Expectations. The result suggests that the two ratios are significantly positive if accounting earnings are positive. The result also suggests that the two ratios are significantly negatively related if accounting earnings are negative. This finding no support the hypothesis that investors regard accounting losses as temporary, not reflecting future cash flow Expectations. In Iran companies profits are considered more persistent for large and least levered firms, and for small and large levered firms losses are considered more persistent...
Financial Research Journal
University of Tehran
1024-8153
6
v.
2
no.
2004
https://jfr.ut.ac.ir/article_11354_7d06027a540c266eec48f9896fed44a2.pdf
-
رضا
تهرانى
author
سیدجلال صادقى
شریف
author
text
article
2004
per
This study tends to present the result of the conditional CAPM
(CCAPM) study in Tehran Stock Exchange Market. It tends to use
CCAPM to lead portfolio managers and other investors to optimize
their investments regarding conditional risk and return relation in
Tehran Stock Exchange Market.
The study results shows that conditional CAPM is able to describe the cross-section relation & risk- returns behavior in upward & downward markets in Tehran Exchange.
It says that the relation between risk & return is subject to market movements, as: in the upward markets when risk goes up, the expected return goes up too. But in the downward markets when the risk goes up, expected return comes down. So in the downward markets when market premium is negative, the expected return decreases while the risk increases.
This study is important because Tehran Exchange market is young & growing. It says that we can use improved models in this young market the same as markets in western countries.
Financial Research Journal
University of Tehran
1024-8153
6
v.
2
no.
2004
https://jfr.ut.ac.ir/article_11355_62c13bf5b4e09b3c1d711d491d288c80.pdf
-
رضا
راعى
author
سعید فلاح
پور
author
text
article
2004
per
Behavioral finance is the paradigm where financial markets are studied using models that drop the tow basic and limitative assumptions -expected utility maximization and full rationality- of traditional paradigm. Behavioral finance has tow building blocks:
limits to arbitrage, which argues that it can be difficult for rational investors to exploit arbitrage opportunity, because this action requires accepting some risk; and psychology, which surveys investors’ behavior and judgment as well as errors made by people when they judge. In this paper, after reviewing the tow building blocks of behavioral finance, we mention some applications of behavioral finance.
Financial Research Journal
University of Tehran
1024-8153
6
v.
2
no.
2004
https://jfr.ut.ac.ir/article_11356_0a4aaf1779cfe793b2dcb1ee82f612fa.pdf
-
حسنعلی
سینایى
author
اسماعیل
خرم
author
text
article
2004
per
The aim of this research is to study and recognize a Part of risk process and its relation with the company's financial costs in Irons stock exchange. At first, it is a review of available theories in capital structure and the relationship between debt ratio and earnings per share. Then, the researcher gathered the financial data of the public corporation, so, he choosed an 86 member sample through 12 industries and tested two complementary hypotheses. In the first studied hypothesis — which it is used of the linear regression model and the whole industries for it the results showed any linear meaningful and positive relation between financial lever and the systematic risk. In the second hypothesis test, the typical companies classified on the basis of trade risk index with using of LSD test. Then, in every risky class, the validity test of different financial lever was accomplished (with the use of ANOVA test).
Finally, with deviation comparison test, the relationship between financial lever and the systematic risk of companies was studied. Also, the result of this test leads to lack of meaning full dispersion in the company's systematic risk, after debt increasing. (In comparison with before debt increasing).
Financial Research Journal
University of Tehran
1024-8153
6
v.
2
no.
2004
https://jfr.ut.ac.ir/article_11357_d108002851308c4ed567ef236228fb5d.pdf
-
محمداسماعیل فدایى
نژاد
author
text
article
2004
per
The purpose of this study is to analyze the effect of B/M ratio and size o ROE ratio in the Tehran Stock Exchange. The results could help the investors to make better decisions and in this regards they can increase their overall return.
The study examines the correlation between:
1. B/M ratio and ROE ratio
2. Size of firm and ROE ratio.
Financial Research Journal
University of Tehran
1024-8153
6
v.
2
no.
2004
https://jfr.ut.ac.ir/article_11358_76e1b9bf6d7c55dd12982a6424fa2003.pdf