Author/Authors :
Eslami، Mehri نويسنده Department of Accounting, Yazd Branch, Islamic Azad University, Yazd, Iran , , Moein Addin، Mahmoud نويسنده Department of Accounting, Yazd Branch, Islamic Azad University, Yazd, Iran , , Dehghan Dehnavi، Hasan نويسنده Department of Management, Yazd Branch, Islamic Azad University, Yazd, Iran ,
Abstract :
The aim of this research is comparative investigation of relative ability of selected financial and economic
criteria in explaining the return performances of the companies. In order to achieve this aim, two different
groups of hypothesis have been examined in this research. In the first group, the relation of the selected financial
and economic performance variables with shares return of the companies has been studied and in the second
group, relative power of financial and economic criteria effective in the previous stage has been compared.
Multi variable regression based on panel data was used to examine the hypothesis of the first group and Z Wong
test has been used to test hypothesis of the second group. The considered sample includes 70 companies selected
in Tehran stock exchange that were selected via systematic omission method and under studied time section is
during 2004-2011 ( 8 year domain).
The findings of research reveal that financial criteria of return on assets and profitper share and economic
criteria of value added and balanced economic criteria of value added are in significant relationship with share
return and any one of these criteria has not different data power toward each other.
