This study aimed to assess the relationship between market anomalies and investors' decisions. To this end, using correlation and regression analyses, the impact of market anomalies indices in a prevailing approach, the stock price to earnings(P/E) ratio, operating cash flow to price ratio and accruals to investors' decisions ratio were assessed and measured in six hypotheses based on two criteria of investment in workforce and investment in capital assets. The results obtained from testing the hypotheses by investigating75companies listed in Tehran Stock Exchange during 2009-2013 revealed that there was no relationship between P/E ratio and accruals indices with investing in the workforce; but presence of a relationship between operating cash flow to price ratio and investment in workforce was confirmed. Also, the association between two indices of stock price to earnings ratio and operating cash flow to price ratio with investments in capital assets was confirmed. However, no significant relationship was found between accruals and investment in capital assets.
| Published in | Journal of Business and Economic Development (Volume 1, Issue 1) |
| DOI | 10.11648/j.jbed.20160101.14 |
| Page(s) | 25-30 |
| Creative Commons |
This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited. |
| Copyright |
Copyright © The Author(s), 2016. Published by Science Publishing Group |
Market Anomalies, Investors' Decisions, Tehran Stock Exchange
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APA Style
Hossein Parsian, Mohammad Jahangirian, Esmaill Beigiharchegani. (2016). Assessment of Relationship Between Market Anomalies and Investors’ Decisions: Evidence from Tehran Stock Exchange. Journal of Business and Economic Development, 1(1), 25-30. https://doi.org/10.11648/j.jbed.20160101.14
ACS Style
Hossein Parsian; Mohammad Jahangirian; Esmaill Beigiharchegani. Assessment of Relationship Between Market Anomalies and Investors’ Decisions: Evidence from Tehran Stock Exchange. J. Bus. Econ. Dev. 2016, 1(1), 25-30. doi: 10.11648/j.jbed.20160101.14
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Download@article{10.11648/j.jbed.20160101.14,
author = {Hossein Parsian and Mohammad Jahangirian and Esmaill Beigiharchegani},
title = {Assessment of Relationship Between Market Anomalies and Investors’ Decisions: Evidence from Tehran Stock Exchange},
journal = {Journal of Business and Economic Development},
volume = {1},
number = {1},
pages = {25-30},
doi = {10.11648/j.jbed.20160101.14},
url = {https://doi.org/10.11648/j.jbed.20160101.14},
eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.jbed.20160101.14},
abstract = {This study aimed to assess the relationship between market anomalies and investors' decisions. To this end, using correlation and regression analyses, the impact of market anomalies indices in a prevailing approach, the stock price to earnings(P/E) ratio, operating cash flow to price ratio and accruals to investors' decisions ratio were assessed and measured in six hypotheses based on two criteria of investment in workforce and investment in capital assets. The results obtained from testing the hypotheses by investigating75companies listed in Tehran Stock Exchange during 2009-2013 revealed that there was no relationship between P/E ratio and accruals indices with investing in the workforce; but presence of a relationship between operating cash flow to price ratio and investment in workforce was confirmed. Also, the association between two indices of stock price to earnings ratio and operating cash flow to price ratio with investments in capital assets was confirmed. However, no significant relationship was found between accruals and investment in capital assets.},
year = {2016}
}
TY - JOUR T1 - Assessment of Relationship Between Market Anomalies and Investors’ Decisions: Evidence from Tehran Stock Exchange AU - Hossein Parsian AU - Mohammad Jahangirian AU - Esmaill Beigiharchegani Y1 - 2016/12/12 PY - 2016 N1 - https://doi.org/10.11648/j.jbed.20160101.14 DO - 10.11648/j.jbed.20160101.14 T2 - Journal of Business and Economic Development JF - Journal of Business and Economic Development JO - Journal of Business and Economic Development SP - 25 EP - 30 PB - Science Publishing Group SN - 2637-3874 UR - https://doi.org/10.11648/j.jbed.20160101.14 AB - This study aimed to assess the relationship between market anomalies and investors' decisions. To this end, using correlation and regression analyses, the impact of market anomalies indices in a prevailing approach, the stock price to earnings(P/E) ratio, operating cash flow to price ratio and accruals to investors' decisions ratio were assessed and measured in six hypotheses based on two criteria of investment in workforce and investment in capital assets. The results obtained from testing the hypotheses by investigating75companies listed in Tehran Stock Exchange during 2009-2013 revealed that there was no relationship between P/E ratio and accruals indices with investing in the workforce; but presence of a relationship between operating cash flow to price ratio and investment in workforce was confirmed. Also, the association between two indices of stock price to earnings ratio and operating cash flow to price ratio with investments in capital assets was confirmed. However, no significant relationship was found between accruals and investment in capital assets. VL - 1 IS - 1 ER -
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