The Relationship between changes in the Items of the Financial Statements (Income Statement-Based Changes) and changes in the Stock Returns of the Firms Listed on the Tehran Stock Exchange

摘要

Investment is one of the significant topics involved in the societies and the stock returnsmight be prioritized because of increases in the stock price, cash dividend, bonus sharesand preemptive right for the buyers of the common stocks. The present study develops amain hypothesis and six subsidiary hypotheses to investigate the impact of the effectivefactors in the changes of the stock returns. The required data has been gathered by theverified software of Rahavard-e-Novin and also the publicly issued information of theTehran Stock Exchange. Using Pearson correlation coefficient, the collected data hasbeen analyzed. The findings reveal that sales revenue, cost of goods sold, operatingincome and net income are the four factors found to be useful in making decisionsabout the changes of the stock returns.