نقش اطلاعات حسابداری در واکنش سرمایه‌گذاران بورس اوراق بهادار تهران; مطالعه سودهای پیش‌بینی شده

نوع مقاله : مقاله پژوهشی

نویسندگان

1 استادیار گروه حسابداری، دانشکده علوم اجتماعی واقتصادی، دانشگاه الزهراء س

2 استادیار گروه حسابداری، دانشکده علوم اجتماعی واقتصادی، دانشگاه الزهراء

چکیده

یکی از مهمترین منابع اطلاعاتی بازارهای سرمایه، اطلاعات حسابداری است. در میان اطلاعات حسابداری، سود هر سهم یکی از مهم‌ترین و اثرگذارترین اطلاعات در شکل گیری واکنش سرمایه گذاران است. بر اساس دستورالعمل اجرایی افشای اطلاعات شرکت‌های ثبت شده نزد سازمان بورس اوراق بهادار تهران، شرکت‌های بورسی موظفند پیش‌بینی عملکرد سالانه و نیز پیش بینی بر اساس عملکرد واقعی3، 6 و 9 ماهه را افشا کنند. با توجه به افشای این اطلاعات توسط شرکت‌های بورسی، بررسی تأثیر گذاری این اطلاعات برای استفاده‌کنندگان لازم به نظر می‌رسد. هدف این تحقیق سنجش اثر افشای این سودهای میان دوره‌ای بر واکنش سرمایه گذاران است، بر این اساس سه فرضیه مبتنی بر اثر گذاری هر یک از این سودهای پیش‌بینی شده تدوین شد. فرضیات تحقیق با استفاده از اطلاعات مالی شرکت‌های پذیرفته شده در بورس اوراق بهادار تهران طی سال-های1383 الی 1394 مورد آزمون قرار گرفت. نهایتاً نتیجه تحقیق نشانگر بهبود مدل واکنش به سود و معناداری هم زمان سودهای پیش بینی شده بود.

کلیدواژه‌ها

موضوعات

عنوان مقاله [English]

Accounting information role in Tehran stock exchange investor’s reaction; Study of forecasted earnings

نویسندگان [English]

  • parisa Saadat Behbahaninia 1
  • azam valizadeh 2
1 Assistant Professor of Accounting, Department of Accounting, Faculty of Social Sciences and Economics, Alzahra University, Tehran, Iran.
2 Assistant Professor of Accounting, Department of Accounting, Faculty of Social Sciences and Economics, Alzahra University, Tehran, Iran
چکیده [English]

According to information disclosure instruction for listed companies in Tehran stock exchange, these companies have to disclose annual performance anticipates as well as anticipates of actual performance based on 3, 6, and 9 months. Regarding disclosure of this information by listed companies, it is necessary to investigate the effects of it for users. The purpose of this study is to measure the effect of aforementioned midterm earnings disclosure on investors. Thus, three hypotheses were formulated based on the influences of these anticipated earnings. Research hypotheses were tested and analyzed according to financial information of listed companies in Tehran stock exchange from 1382 to 1392. Finally, findings show earning response model improvement and simultaneous significance of anticipated earnings.
Keywords: earning response, anticipated earnings, disclosure.
According to information disclosure instruction for listed companies in Tehran stock exchange, these companies have to disclose annual performance anticipates as well as anticipates of actual performance based on 3, 6, and 9 months. Regarding disclosure of this information by listed companies, it is necessary to investigate the effects of it for users.
.

کلیدواژه‌ها [English]

  • earning response
  • anticipated earnings
  • Disclosure

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سابقه مقاله

  • تاریخ دریافت: 15 فروردین 1395
  • تاریخ بازنگری: 16 فروردین 1396
  • تاریخ پذیرش: 21 فروردین 1396

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