Financial Statement Comparability and Expected Stock Price Crash Risk
Subject Areas : Financial Knowledge of Securities AnalysisZohreh Hajiha 1 , hasan Chenari Bouket 2
1 - Department of Accounting, Islamic Azad University, East Tehran Branch, Tehran, Iran
2 - Young Researchers and Elite Club, South Tehran Branch, Islamic Azad University, Tehran, Iran
Keywords: Expected Crash Risk, Financial Statement Comparabil, Investors,
Abstract :
AbstractThis study investigated the relationship between the comparability of financial statements with the expected crash risk stock prices in firms listed on the Tehran Stock Exchange. Information needed for the study of the financial statements of 117 firms in the period 1390-1394 has been collected. To test the hypothesis of multivariate regression with panel data is used. To calculate the variable comparability of the model De-Franco et al. (2011) and to calculate the variable crash risk expected stock price model Kothari et al (2009) is used. The findings of the research hypothesis and show that there is negative relationship between the comparability of financial statements with the expected crash risk stock prices. In other words, by increasing the comparability of uncertainty, incorrect analysis, investors and fear of further fall in prices will reduce the period of the crisis.
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