The impact of profit prediction quality on the risk and value of the companies listed in Tehran Stock Exchange
Journal Title: International Research Journal of Applied and Basic Sciences - Year 2015, Vol 9, Issue 11
Abstract
The present study is an attempt to investigate impact of profit prediction quality (which is a disclosed matter in the management reports) on the risk and value of the companies, for doing so, a sample of 130 companies were selected from among all companies listed in Tehran Stock Exchange for a period of 6 years from 2006 to 2012 and the data related to these companies were collected and investigated. In this study, some quantitative criteria of profit prediction quality such dissemination of profit prediction and accuracy of profit prediction were defined in order to prepare hypothesis and tests. Furthermore, Tobin kiwi criteria beta and unsystematic risk were used for assessing the company value of risk respectively. Multivariate regression was used to determine the above-mentioned impact. In general the results of the regression models show that management profit prediction quality will affect the investor’s long-term assessment of company’s risk.
Authors and Affiliations
Mehrdad Ghanbary| Department of Accounting, Kermanshah Branch, Islamic Azad University, Kermanshah, Iran, Saeed Vaseli| Department of Accounting, Sahne Branch, Islamic Azad University, Sahne, Kermanshah, Iran, email: saeed.vaseli@yahoo.com
Keywords
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