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Investigating the Relationship between Multiple Variables and Momentum and Inverse Profits in Tehran Capital Market
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Hojat alah Marzban1   , Reza Sotudeh 2, Habib Piri3 |
1- PhD student, Department of Accounting, Zahedan Branch, Islamic Azad University, Zahedan, Iran.
2- Assistant Professor of Accounting, Nikshahr Branch, Islamic Azad University, Nikshahr, Iran (Corresponding Author). , reza.sotudeh70@gmail.com
3- Assistant Professor, Accounting Department, Zahedan Branch, Islamic Azad University, Zahedan, Iran. |
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Abstract: (1792 Views) |
| abstract In this study, using the financial information of 70 companies listed on the Tehran Stock Exchange during the years 2009-2017, the relationship between momentum and inverse profits with the size and ratio of book value to the market value of the company and the volume of transactions using multivariate regression models. Based on combined data has been studied. The research findings indicate that there is no significant relationship between company size and momentum profits and there is no significant relationship between company size and inverse profits except for a 24-month maintenance period. There is no significant relationship between the ratio of book value to market value (BV / MV) and momentum profits in all maintenance and formation periods, but between the ratio of book value to market value (BV / MV) and inverse profits in all maintenance and formation periods. Apart from 6-month maintenance and formation periods, there is a significant relationship. Regarding the company s trading volume, it can be said that there is a significant relationship between trading volume and momentum profits in 6-month formation and maintenance periods, and this relationship in 12- and 24-month formation periods. Maintenance is not significant, while there is a significant relationship between the company s trading volume and inverse profits in the 24-month formation and maintenance periods. And there is no significant relationship in the formation and maintenance periods of 6 and 12 months. |
Article number: 6 |
| Keywords: Momentum Profit, Reverse |
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Full-Text [PDF 468 kb]
(410 Downloads)
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Article type: Research |
Subject:
Special
Received: 2021/10/12 | Accepted: 2021/11/29 | Published: 2022/03/1
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