The Relationship between Stock Return, Capital Cost, and Conservatism inFinancial Crisis Period in Accepted Companies of Stock Exchange of Tehran
Publish Year: 1393
نوع سند: مقاله کنفرانسی
زبان: English
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شناسه ملی سند علمی:
NCEMA01_012
تاریخ نمایه سازی: 25 بهمن 1394
Abstract:
This study examines the relationship between stock return and conservatism in financial crisis period; and then it explores the relationship between capital cost and conservatism. Statistical population of the study includes accepted companies of Stock Exchange of Tehran from 2005-2012. To measure conservatism, Basu Model (1997) and to test research hypotheses, multi-step regression by combined data with fixed effects (panel data) were used. The experimental results using the information of 143 companies show that there is a positive and significant correlation between stock return and conservatism; while, there is no significant correlation between capital cost and conservatism. Thus, regarding this correlation, conservatism can be concerned as a mechanism for supporting stakeholders’ rights and fair representation of financial statements
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Authors
Meysam Vahedian
Department of Accounting, Bardaskan Branch, Islamic Azad University, Bardaskan, Iran
Alireza Mehrazeen
Department of Accounting, Neyshabur Branch, Islamic Azad University, Neyshabur, Iran
Hossein Parsian
Young Researchers and Elite Club, Torbat-e-Jam Branch, Islamic Azad University, Torbat-e-Jam, Iran
Amir Shams Kolookhi
Young Researchers and Elite Club, Torbat-e-Jam Branch, Islamic Azad University, Torbat-e-Jam, Iran
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