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علل ریزش قیمت سهام شرکتهای پذیرفته شده در بورس اوراق بهادار تهران بر مبنای رهیافت فراتحلیل: شواهدی از مطالعات داخلی | ||
راهبرد مدیریت مالی | ||
مقاله 4، دوره 10، شماره 4 - شماره پیاپی 39، دی 1401، صفحه 75-102 اصل مقاله (580.36 K) | ||
نوع مقاله: مقاله پژوهشی | ||
شناسه دیجیتال (DOI): 10.22051/jfm.2022.39534.2652 | ||
نویسندگان | ||
مریم دهقان منکا آبادی1؛ عبدالمجید عبدالباقی عطاآبادی* 2؛ مجید عامری3 | ||
1دانشجو مدیریت کسبوکار (مالی)، دانشکده مهندسی صنایع و مدیریت، دانشگاه صنعتی شاهرود | ||
2استادیار مالی، گروه مدیریت، دانشکده مهندسی صنایع و مدیریت دانشگاه صنعتی شاهرود | ||
3گروه حسابداری، دانشکده مهندسی صنایع و مدیریت، دانشگاه صنعتی شاهرود | ||
چکیده | ||
هدف اصلی پژوهش حاضر تعیین عوامل مؤثر بر ریزش قیمت در سطح مطالعات مختلف داخلی است. نمونه آماری این پژوهش برگرفته از نتایج 57 مطالعه داخلی بر مبنای رهیافت فرا تحلیل است. نتایج پژوهش نشان داد که متغیرهای محافظه کاری، اعتماد اجتماعی، سررسید بدهی، سود تقسیمی، تمرکز مالکیت، تخصص حسابرس در صنعت و اثربخشی کنترلهای داخلی دارای اثر منفی و معنیداری بر ریسک سقوط قیمت سهام بر مبنای چولگی منفی بازده سهام و متغیر استراتژیهای تجاری، تنها عامل منفی مؤثر بر ریزش قیمت سهام بر مبنای نوسانات پایین به بالا است. همچنین متغیر نسبت ارزش بازار به ارزش دفتری حقوق صاحبان سهام و اندازه شرکت دارای اثر منفی و معنی داری بر ریسک سقوط قیمت سهام مبتنی بر متغیر سیگمای حداکثری است. از طرف دیگر عدم تقارن اطلاعاتی، انحراف معیار بازده ماهانه، عدم تجانس سرمایهگذاران، بیش ارزشگذاری سهام و جریانهای نقد آزاد از علل تشدیدکننده ریزش قیمت سهام بر مبنای متغیر چولگی منفی بازده و فرصتهای رشد و اقلام تعهدی تشدیدکننده ریزش قیمت بر مبنای سیگمای حداکثری است. | ||
کلیدواژهها | ||
فرا تحلیل؛ ریسک سقوط قیمت سهام؛ چولگی منفی بازده سهام؛ نوسانات پایین به بالا؛ سیگمای حداکثری | ||
عنوان مقاله [English] | ||
Causes of Stock Prices at Tehran Stock Exchange based on a Meta-Analysis Approach: Evidence from Internal Studies | ||
نویسندگان [English] | ||
Maryam Dehghan Monkabadi1؛ Abdolmajid Abdolbaghi Ataabadi2؛ Majid Ameri3 | ||
1Student of Business Management (Finance), Faculty of Industrial Engineering and Management, Shahrood University of Technology | ||
2Assistant Professor of Finance, Department of Management, Faculty of Industrial Engineering and Management, Shahrood University of Technology | ||
3Department of Accounting, Faculty of Industrial Engineering and Management, Shahrood University of Technology | ||
چکیده [English] | ||
The main purpose of this study is to determine the factors affecting Stock Price Crash Risk in various domestic studies. The sample of this research is taken from the results of 57 internal studies based on meta-analysis approach. The results showed that the variables of conservatism, social trust, debt maturity, dividends, ownership concentration, auditor expertise in the industry and the effectiveness of internal controls had a negative and significant effect on Stock Price Crash based on the negative skewness of stock returns (NCSKEW). Also the variable of trading strategies is the only negative factor affecting Stock Price Crash based down-to-top volatility. Also, the ratio of M/B and size has a negative effect on the risk of falling stock prices based on the maximalist Sigma. On the other hand, information asymmetry, standard deviation of monthly return, investor heterogeneity, stock overvaluation and free cash flows are among the causes of exacerbating Stock Price Crash based on negative skewness of stock returns (NCSKEW). and growth opportunities and accrual items exacerbating Stock Price Crash based on maximalist Sigma. | ||
کلیدواژهها [English] | ||
Stock Price Crash Risk, Negative Skewness of Stock Returns, Down-to-Top Volatility, Maximalist Sigma | ||
سایر فایل های مرتبط با مقاله
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مراجع | ||
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