خلاصة:
This study aimed to investigate the effect of fraction resulted of bad news on
stock returns emphasizing the regulatory power of information disclosure policies
that for this goal, the study population is consisted of the companies listed on the
Tehran Stock Exchange during a five years' period (2010-2014). Data of selected
statistical sample using systematic elimination method has been collected from
122 companies. This study objectively is a practical research. In terms of type of
research design because of relying on historical data, is ex post facto and its
inference method is inductive and in correlation type. This study includes six main
hypotheses. In this study to assess the hypotheses, the linear regression has been
used. To analyze the data and test hypotheses, the EVIEWS software is used. the
results of this study suggest that the fraction resulted of bad news has an effect on
stock returns, abnormal cumulative returns and the stock crash risk, as well as the
fraction resulted of bad news has an effect on the interaction of regulatory power
of information disclosure policies, stock crash risk, the abnormal cumulative
returns and stock returns
ملخص الجهاز:
The Study of the Effect of Fraction Resulted of Bad News on Stock Returns Emphasizing the Regulatory Power of Information Disclosure Policies Mahbobeh Eibakabadi Department of Economics & Accounting , South Tehran Branch, Islamic Azad University, Tehran, Iran ARTICLE INFO Article history: Received 12 Februry 2017 Accepted 20 May 2017 Keywords: ABSTRACT Stock returns;Fraction of bad news; Regulatory power.
This study aimed to investigate the effect of fraction resulted of bad news on stock returns emphasizing the regulatory power of information disclosure policies that for this goal, the study population is consisted of the companies listed on the Tehran Stock Exchange during a five years' period (2010-2014).
In fact, in this research, we’re seek to answer these questions that whether a deficit resulted of bad news has an impact on stock returns emphasizing the power of regulatory policies of information disclosure?
According to the theoretical foundations listed, the second and fourth research hypotheses are presented as follows: H2: the fraction resulting from the impact of bad news on the interaction of regulatory power of information disclosure policies has an impact on stock returns.
H2: the fraction resulting from the impact of bad news on the interaction of regulatory power of information disclosure policies has an impact on stock returns.