خلاصة:
Accounting earning represents the positive performance of companies during their
pertinent financial periods, thus it is assumed that accounting earning will be
noted by investors, which could contribute to the optimum allocation of resources
to successful companies. It can also play a major role in the economic growth and
development of a society. This research focuses in the relationship between accounting
earning and gross domestic product (GPD). The research population
includes all companies listed in Tehran Stock Exchange. Due to the limitations of
sample size, 65 companies between 2009 and 2013 were studied. The findings
showed that there is a significant relationship between accounting earning and
GPD growth rate. A similar relationship was also observed between accounting
earning and forecast errors of GPD growth. The control variables including inflation
and employment rate had a significant relationship with GPD growth rate and
forecast errors of GPD growth.
ملخص الجهاز:
Investigating the Relationship between Accounting earning and Gross Domestic Product in Companies Listed in Tehran Stock Exchange EmadGhajara, ParvizSaeidi*, b aDepartment of Accounting and Management, Golestan Science and Research Branch, Islamic Azad University, Gorgan, Iran.
Maysami and Koh[12] used monthly data in the form of time series andJohansen co-integration test in vector error correction model to study the long run relationship between stock market index in Malay- sia and a collection of macroeconomic variables.
Hosseini and Karimi[3] studied the relationship between some macroeconomic variables (Changes in inflation rates, GDP, money supply and interest rate) and stock returns of companies listed on the stock exchange.
Table 2: correlation coefficient between the variables (View the image of this page) Significant at error rate of 5% (Source: the author's estimations) 4.
The estimated coefficient for employment in the following table shows the existence of a positive signifi- cant relationship between employment rate and GPD growth at 0.
Hypothesis rejection or approval According to the following results, ΔX shows the existence of positive significant relationship be- tween the accounting earnings and GPD growth forecast error at 0.
Therefore, it could be stated that there is a significant relationship between accounting earnings and GPD growth forecast error at 95% significance level.
The estimated coefficient for inflation in the following table shows the existence of a negative signifi- cant relationship between inflation rate and GPD growth forecast error at 0.
The estimated coefficient for employment in the following table shows the existence of a positive significant relationship between employment rate and GPD growth forecast error at 0.