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Register a new userThe Predicting Of Stock Returns Of Companies Listed At Damascus Securities Exchange By Using Information based Accrual Basis
التنبؤ بعوائد الأسهم للشركات المدرجة في سوق دمشق للأوراق المالية باستخدام معلومات أساس الاستحقاق
1967
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Added by
Tishreen University ورقة بحثية
Publication date
2015
fields
Accounting
and research's language is
العربية
Created by
Shamra Editor
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هدف البحث الحالي إلى التعرف على إمكانية استخدام معلومات أساس الاستحقاق (الاستهلاك و المؤونات) في التنبؤ بالعوائد السوقية لأسهم للشركات المدرجة في سوق دمشق للأوراق المالية. طُبقت الدراسة على عينة مكونة من (11) شركة مدرجة في سوق دمشق للأوراق المالية، و ذلك خلال الفترة الزمنية الممتدة من الربع الأول لعام 2010 و لغاية الربع الثاني لعام 2014. تم اختبار الفرضيات باستخدام أسلوب الانحدار البسيط و المتعدد. توصل البحث إلى أنه لا يمكن لمعلومات أساس الاستحقاق التنبؤ بعوائد الفترة التالية لأسهم الشركات المدرجة في سوق دمشق للأوراق المالية إلا بعد إدخال المتغيرات الضابطة المتمثلة بالقيمة الدفترية إلى القيمة السوقية، المخاطر المنتظمة و معدل الربح إلى السعر السوقي.
This research aims to identify the possibility of using the information of accruals (Depreciation and Provision) basis in predicting stock market returns for companies listed at Damascus Security Exchange. The study is applied on (11) companies during the period from the first quarter of 2010 until the second quarter of 2014. The hypotheses are tested using approach of simple and multiple linear regression. The research conclude that the information of accruals basis can’t predict stock market returns for next period for companies listed at Damascus Security Exchange, unless the control variables are entered, Book to Market ratio, Beta & Earning to Price ratio.
References used
ص 142 ، من بورصة عمان للأو ا رق المالية(، المجلة الأردنية في إدارة الأعمال، المجلد 4، العدد 2 5- AL-ATTAR, A. & AL-KHADASH, H., The Effect of Contextual Factors on the Information Content of Cash Flows in Explaining Stock Prices -The Case of Amman Stock Exchange, Jordan Journal of Business Administration, Vol.1, No.1, 2005, P121-132
ALI, A.; HWANG, L. & TROMBLEY, M. A., Accruals and Future Stock Returns: Tests of the Naive Investor Hypothesis, Journal of Accounting, Auditing & Finance, Vol.15, No.2, 2000, p161-181
BANDYOPAHYAY, S. P.; CHEN, C.; HUANG, A. G. & JHA, R., Accounting Conservatism and the Temporal Trends in Current Earnings “Ability to Predict Future Cash Flows versus Future Earnings”: Evidence on the Trade-off between Relevance and Reliability, Contemporary Accounting Research, Vol.27, No.2, 2010, P413-460
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