بررسي تحليلي ارتباط بين تغييرات اقلام صورت گردش وجوه نقد با تغييرات سهام در شركت هاي پذيرفته شده در بوزس اوراق بهادار تهران

The Analytical Study of Relationship between Cash Flow Statement Items Changes with Stock Return in Accepted Companies in the Market Security

In this Study the relationship between the changes in the items of cash flow statements and changes in stock returns of the listed companies in Tehran Stock Exchange (TSE) has been investigated. The aim was to forecast the changes in the stock returns using the changes in the items of cash flow statement. Based on this subject, six hypothesis have been considered and analyzed by simple and multiple regression methods. As a result neither of them has been confirmed. Generally, it was concluded that the issued information from the listed companies are unreliable because the Tehran Stock Exchange (TSE) is inefficient. Since issued information cannot affect the companiesʹ stock price and return, cash flow statements cannot be used as a part of information to forecast companiesʹ stock return.