عنوان مقاله [English]
نویسندگان [English]چکیده [English]
Relevance and usefulness of accounting information can be measured by simultaneous relation among accounting information, stock returns and market capitalization. This Subject is a basis for the activities in the field of “Value Relevance”.
The main purpose of this research is to examine any relation between earnings per share data and stock returns of the companies. To do this, a sample 155 companies listed in Tehran Stock Exchange over the years 1380 to 1388 has been used.
This research analyzes the value relevance of accounting information, using the price based models and return based models. In this regard, the both cumulative and buy and hold forms of stock returns are calculated. The results from the return based models show a positive and significant relation between stock returns and earnings per share information, and also confirm the value relevance of accounting information. The results from price based models show a positive and significant relation between current period earnings per share and book value per share, and market value per share. The price based model has much more value relevance than the return based models.