A study on the effects of subsidies on market value of listed companies in Tehran Stock Exchange
Publish place: دومین همایش بین المللی انسجام مدیریت و اقتصاد در توسعه
Publish Year: 1396
نوع سند: مقاله کنفرانسی
زبان: English
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شناسه ملی سند علمی:
MEUCONF02_561
تاریخ نمایه سازی: 29 فروردین 1397
Abstract:
According to the 4th Iran’s development plan, there must an increase in energy prices and removal of subsidies paid to energy sector. Therefore, it is necessary to study the effects of removing subsidies paid on energy on different industries and the subsequent impact on economic growth. This study aims to investigate the effects of subsidies on the market value of listed companies in Tehran Stock Exchange in automotive and cement industries. The study selects two firms, Fars & Khuzestan Cement Co. and Irank Khodro using Auto Regressive Distributed Lags (ARDL) over the period 2008-2013. The results of study have indicated that there was a meaningful relationship between removal of subsidies and market value of the firms.
Keywords:
Tehran Stock Exchange/Subsidy removal/Cement industry/Auto industry//
Authors
Leyla Osati
Department of management and Accounting, South Tehran Branch, Islamic Azad University, Tehran, Iran
Mohsen Hamidian
Faculty member, Department of management and Accounting, South Tehran Branch, Islamic Azad University, Tehran, Iran