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首页> 外文期刊>Management Science Letters >A study on relationship between the information of cash value added and return of stocks: An empirical investigation on accounting profit, free cash flow and Tobin’s Q
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A study on relationship between the information of cash value added and return of stocks: An empirical investigation on accounting profit, free cash flow and Tobin’s Q

机译:现金增值信息与股票收益率之间的关系的研究:对会计利润,自由现金流和托宾Q的实证研究

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This paper presents an empirical investigation to the study the effects of various factors such as free cash flow, earnings, Tobin’s Q on predicting stock performance on Tehran Stock Exchange (TSE) over the period 2005-2012. The study is performed on data from different industries including basic metals, cements, chemical, auto industry, etc. The proposed model gathers the necessary data from TSE and using various regression models, the study has determined that there was a meaningful relationship between cash value added, Earnings and Tobin’s Q when the level of significance was five percent but there was not any meaningful relationship between stock earnings and free cash flow.
机译:本文提供了一项实证研究,以研究各种因素(例如自由现金流,收益,托宾Q)对德黑兰证券交易所(TSE)在2005-2012年期间的股票表现进行预测的影响。该研究是对来自不同行业(包括基础金属,水泥,化工,汽车工业等)的数据进行的。所提出的模型从TSE收集了必要的数据,并使用各种回归模型,研究确定现金价值之间存在有意义的关系此外,当收益水平为5%但股票收益与自由现金流之间没有任何有意义的关系时,收益和托宾的Q。

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