The Association Between Stock Market Prices And Certain Accounting Measures Of Profitability The Case Of Amman Stock Exchange
Download The Association Between Stock Market Prices And Certain Accounting Measures Of Profitability The Case Of Amman Stock Exchange full books in PDF, epub, and Kindle. Read online free The Association Between Stock Market Prices And Certain Accounting Measures Of Profitability The Case Of Amman Stock Exchange ebook anywhere anytime directly on your device. Fast Download speed and no annoying ads. We cannot guarantee that every ebooks is available!
| Author | : Husam Aldeen Al-Khadash |
| Publisher | : |
| Total Pages | : |
| Release | : 2009 |
| Genre | : |
| ISBN | : |
The current study aims to test the relationship between certain accounting measures of profitability calculated based on the published annual reports and stock market prices. The study covers a sample of the industrial companies listed on the Amman Stock Exchange (ASE). The relationship is assumed to be sound because accounting data is still one of the main indicators for the expected earnings in the future.Several studies in the past established an association between stock market prices and accounting data (eg Collins et al, 1987; Kothari and Sloan, 1992; Kothari and Zimmerman, 1995, Al-Deb'i and Abunasar, 1999; Almisher and Kish, 2000; Jindrichovska, 2001; Al-Hadad, 2001 and Al-Ra'i,, 2001). The local studies which covered the ASE such as Al-Deb'i and Abunasar (1999), Al-Hadad (2001) and Al-Ra'i (2001) tested different variables from those included in this study, also they mainly covered one window. This study tests the existence of such a relationship for short and long windows. It relies on the methodology proposed by Kothari and Sloan (1992). The time horizon of this study covers the period of 1993-2002. Cosequently the long window considered as the window of more than three years while the short window covers a period of three years. A period of three-year is appropriate since some previous studies indicated that a relation is statistically significant for measurement windows of two years and longer. The results of the current study indicate that the short window returns are important but long window returns are more important in terms of their sensitivity to annual earnings changes.
| Author | : Shakir Al-ghalayini |
| Publisher | : GRIN Verlag |
| Total Pages | : 79 |
| Release | : 2015-01-26 |
| Genre | : Business & Economics |
| ISBN | : 3656883459 |
Master's Thesis from the year 2015 in the subject Business economics - Banking, Stock Exchanges, Insurance, Accounting, grade: %86.20, Islamic University of Gaza, language: English, abstract: This study aimed to predict stock prices in Palestine Stock Exchange (PEX) by testing group of financial ratios and find a quantitative model, in which can be relied upon to predict the stock price for each sector. This model will help investors make rational decisions when they make investment decision in the financial market. To achieve this purpose, (17) financial ratios from (35) listed companies were tested using the available data for period 2009-2013. These ratios were analyzed using multiple regression to find the best model for each sector of (PEX). Several financial ratios can be used to predict the stock price in the industry sector, which are (earning per stock, market price on book value, days sales outstanding, fixed assets turnover, return on equity and profit margin). In the investment sector, the following ratios (market price on book value, assets turnover, market price on cash flow and fixed assets turnover) can be used to predict the stock price. Adding to that, the ratios of (earning per stock, market price on book value and return on equity) can predict the stock price of service sector. In the insurance sector, the ratios of (earning per stock, return on assets, debt ratio and assets turnover) can be used in predicting stock price. Finally, the ratios of (market price on book value, earning per stock, return on equity, basic earning power and fixed assets turnover) predicting the banking sector stock price. The study recommended the need to increase attention and caring when preparing the financial statements and must be prepared according to the Palestinian Stock Exchange standards, and the investors can rely on financial analysis of the financial statements when making financial investment decisions.
| Author | : Mikael Runsten |
| Publisher | : Stockholm School of Economics Efi Economic Research Institut |
| Total Pages | : 363 |
| Release | : 1998-01-01 |
| Genre | : Accounting |
| ISBN | : 9789172584891 |
| Author | : Michael Arthur Firth |
| Publisher | : |
| Total Pages | : 202 |
| Release | : 1977 |
| Genre | : Business & Economics |
| ISBN | : |
| Author | : Levon Babalyan |
| Publisher | : |
| Total Pages | : 36 |
| Release | : 2002 |
| Genre | : |
| ISBN | : |
This study compares the informational content of accounting earnings reported by Swiss companies under the standards generally accepted in Switzerland and earnings reported under the International Accounting Standards and US GAAP. I examine the relative explanatory power and earnings response coefficients in regressions of reported numbers on market returns of the companies listed on the Swiss Stock Exchange and presenting financial statements under these different accounting frameworks. After controlling for firm size, foreign market listing, audit quality and sensitivity to some variable specifications, the obtained results suggest that a claim of compliance to IAS by a listed Swiss company does not necessarily imply that its earnings numbers are more value-relevant than if reported under Swiss standards. The company size and audit quality proved to be significant factors for the quality of reported numbers. The empirical results also confirm the hypothesis that firms reporting under US GAAP provide more informative earnings numbers. This confirmation, however, must be interpreted with caution because of the small sample size and high presence of these US GAAP firms on foreign stock markets.
| Author | : A. S. Abdul Hadi |
| Publisher | : Taylor & Francis |
| Total Pages | : 177 |
| Release | : 2023-05-31 |
| Genre | : Business & Economics |
| ISBN | : 1000906736 |
First published in 1988, Stock Markets of the Arab World provides a sound description and analysis of the stock market situation in Arab countries and an evaluation of previous attempts at the integration of capital markets. Foreign interest in the oil producing Arab countries has grown due to the accumulation of international reserves. Oil producers are looking for an alternative to their near-term investments in United States Securities through a diversification of their economies. This book argues that these countries could profitably invest these reserves through an integration of their securities markets. It also says that prospects of increased linkages among Arab domestic markets do exist. This is an interesting read for scholars and researchers of Middle East studies, Arab economy and economics in general.
| Author | : Elroy Dimson |
| Publisher | : CUP Archive |
| Total Pages | : 328 |
| Release | : 1988-03-17 |
| Genre | : Business & Economics |
| ISBN | : 9780521341042 |
| Author | : Sari Malahim |
| Publisher | : |
| Total Pages | : 8 |
| Release | : 2020 |
| Genre | : |
| ISBN | : |
This study aims to test the effect of company size on risk adjusted return in Amman Stock Exchange (ASE) and investigating if there are anomalies in that Bourse. According to efficient market hypothesis, risk adjusted return for small-capitalization (CAPS) must quietly equal risk adjusted return for large-capitalization(CAPS); otherwise, this will lead to breaking the efficient market hypothesis and existing of anomalies in Amman Stock Exchange. On this paper an attempt to investigate if there is a statistically difference between small-caps and large-caps risk adjusted return. And also an attempt to investigate the existing of anomalies in Amman Stock Exchange. The size of company was determined on the basis of the company total assets; to implement that criteria, the median for all companies was estimated, then companies less than median were considered as small- caps and companies more than median were considered as large- caps. The hypothesis of this study was examined by using parametric tests as one-sample test and paired sample test. It was found that there was a statically significant relationship between risk adjusted return between large-caps and small-caps and also found that the risk adjusted return for small caps outperform the risk adjusted return for large- caps. This study can be a source of help to technical analysts to benefit from that anomaly and to improve their investment strategies regarding that information. And it is also a source of help to academic people and researcher to perceive that inefficiency case.
| Author | : Nada Ibrahim Abu Aljarayesh |
| Publisher | : |
| Total Pages | : 8 |
| Release | : 2018 |
| Genre | : |
| ISBN | : |
The three main objectives of the study have accomplished by the analysis; is to examine the relationship between stock return and trading volume in Jordan ASE market. Plus to conclude whether the relationship of trading volume and stock return on Jordan ASE market is reliable with the weak-form of the efficient market hypothesis (EMH). Least, the relationship between stocks return volatility and trading volume in Jordan ASE market has been investigated. The experimental results verify a significant positive relationship between stock return and trading volume. Thus, the first objective is satisfied. Second objective is proven that ASE market is contradicted with the weak-form of EMH. The results of the GARCH (1,1) model illustration that the ASE displays strong volatility persistence and that the past volatility be able to explicate the current.
| Author | : Ali Rahmani |
| Publisher | : |
| Total Pages | : 16 |
| Release | : 2007 |
| Genre | : |
| ISBN | : |
It is of great significance to identify the variables affecting stock return and its price in the emerging markets. According to CAPM, Beta is the only variable capable of predicting the return. The recent studies demonstrate that there exist other variables which outperform stock return predictability potential of the Beta. Included among such variables are the size, debt-to-equity, book-to-market, earnings-to-price and sale-to-price ratios. The present research was aimed at testing the above variables and Beta for the prediction of stock return in order to recognize the variables which are better capable of predicting the stock return in Tehran Stock Exchange (TSE). Independent variables were tested against the dependant variable (return) on an annual basis for the years 1997-2003. Further, multi-variable models were tested, both annually and pooled cross-sectionally. In single variable tests, a significant relationship was observed between the stock return and sale-to-price ratio, earnings-to-price ratio and size (stock market value) in 4 consecutive years. The book-to-market ratio demonstrated great dispersion in results. However, since the results of different years varied greatly, no stable relationship was observed between Beta and stock return as predicted in the CAPM model. Further, no relation was observed between debt-to-equity ratio and the stock return. Considering the potential effect of statistical models on the findings, complementary tests were carried out in portfolio level based on Beta and book-to-market ratio variables. Three portfolios were formed taking into consideration the magnitude of each variable. The findings of these tests substantiated that, in the years 2000, 2002 and 2003, portfolios with higher Beta proved to have higher return compared to the ones with lower Beta. With respect to the portfolios formed on the basis of book-to-market ratio, the findings proved compatible with the regression models.This study will contribute and add to the sum of accounting and financial knowledge in two ways: (1) the theories formulated and the models applied in developed countries are capable of application in the emerging markets as well; and (2) the accounting information prepared in conformity with the national standards will prove useful.
