Effects of Turnover on Stock Price Delay in Companies Listed in Tehran Stock Exchange
Objective: This study examines the effects of turnover on the stock price delay in a sample of 117 companies listed in the Tehran Stock Exchange from 2011 to 2016. Method: Data was collected using document mining and referencing to databases, and then, was analyzed using Eviews software. A Panel dat...
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Shahid Bahonar University of Kerman
2019
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oai:doaj.org-article:9e0d804406e94468bb21a0b147fa4b512021-11-04T19:54:57ZEffects of Turnover on Stock Price Delay in Companies Listed in Tehran Stock Exchange2008-89142476-292X10.22103/jak.2019.12850.2812https://doaj.org/article/9e0d804406e94468bb21a0b147fa4b512019-11-01T00:00:00Zhttps://jak.uk.ac.ir/article_2371_73a530dd6967fee202f7b1f42bb9f362.pdfhttps://doaj.org/toc/2008-8914https://doaj.org/toc/2476-292XObjective: This study examines the effects of turnover on the stock price delay in a sample of 117 companies listed in the Tehran Stock Exchange from 2011 to 2016. Method: Data was collected using document mining and referencing to databases, and then, was analyzed using Eviews software. A Panel data model was used to test the research hypotheses. Result: The results indicated that there are positive and significant relationships between the the turnover as dependent variable and stock liquidity, the company's uncertainty and investor's attention as explanatory variables. The second model showed a significant and negative relationship between the stock price delay as dependent variable and turnover as explanatory variable. Therefore, the main hypothesis of the research was verified. The results also showed that stock liquidity has a negative and significant impact on the stock price delay due to the number of trading days and the uncertainty in the company, and that investor's attention has no significant effect on the stock price delay. Conclusion: To increase stock liquidity and reduce stock price delays, and to assist market efficiency, it is necessary to enact and enforce appropriate rules for quick opening of trading symbol after suspension, and to indorse appropriate rules for increasing the range of stock fluctuations.Reza Gholami (Ph.D)Benyamin Narrei (Ph.D)Pedram AziziShahid Bahonar University of Kermanarticlecompany's uncertaintyinvestor's attentionstock liquiditystock price delayturnoverAccounting. BookkeepingHF5601-5689FAمجله دانش حسابداری, Vol 10, Iss 3, Pp 33-67 (2019) |
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DOAJ |
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DOAJ |
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FA |
| topic |
company's uncertainty investor's attention stock liquidity stock price delay turnover Accounting. Bookkeeping HF5601-5689 |
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company's uncertainty investor's attention stock liquidity stock price delay turnover Accounting. Bookkeeping HF5601-5689 Reza Gholami (Ph.D) Benyamin Narrei (Ph.D) Pedram Azizi Effects of Turnover on Stock Price Delay in Companies Listed in Tehran Stock Exchange |
| description |
Objective: This study examines the effects of turnover on the stock price delay in a sample of 117 companies listed in the Tehran Stock Exchange from 2011 to 2016. Method: Data was collected using document mining and referencing to databases, and then, was analyzed using Eviews software. A Panel data model was used to test the research hypotheses. Result: The results indicated that there are positive and significant relationships between the the turnover as dependent variable and stock liquidity, the company's uncertainty and investor's attention as explanatory variables. The second model showed a significant and negative relationship between the stock price delay as dependent variable and turnover as explanatory variable. Therefore, the main hypothesis of the research was verified. The results also showed that stock liquidity has a negative and significant impact on the stock price delay due to the number of trading days and the uncertainty in the company, and that investor's attention has no significant effect on the stock price delay. Conclusion: To increase stock liquidity and reduce stock price delays, and to assist market efficiency, it is necessary to enact and enforce appropriate rules for quick opening of trading symbol after suspension, and to indorse appropriate rules for increasing the range of stock fluctuations. |
| format |
article |
| author |
Reza Gholami (Ph.D) Benyamin Narrei (Ph.D) Pedram Azizi |
| author_facet |
Reza Gholami (Ph.D) Benyamin Narrei (Ph.D) Pedram Azizi |
| author_sort |
Reza Gholami (Ph.D) |
| title |
Effects of Turnover on Stock Price Delay in Companies Listed in Tehran Stock Exchange |
| title_short |
Effects of Turnover on Stock Price Delay in Companies Listed in Tehran Stock Exchange |
| title_full |
Effects of Turnover on Stock Price Delay in Companies Listed in Tehran Stock Exchange |
| title_fullStr |
Effects of Turnover on Stock Price Delay in Companies Listed in Tehran Stock Exchange |
| title_full_unstemmed |
Effects of Turnover on Stock Price Delay in Companies Listed in Tehran Stock Exchange |
| title_sort |
effects of turnover on stock price delay in companies listed in tehran stock exchange |
| publisher |
Shahid Bahonar University of Kerman |
| publishDate |
2019 |
| url |
https://doaj.org/article/9e0d804406e94468bb21a0b147fa4b51 |
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