1
Assistant Professor of Accounting. Shiraz University
2
Islamic Azad University- Marvedasht Branch
3
M.S. of accounting Islamic Azad University- Marvedasht Branch
Abstract
The main purpose of this article is to analyze the effects of the capital structure on the cumulative abnormal returns to reach such a goal we select information of 44 firms in the years 1376-1386. Multiple regressions (stepwise method) were used to test the hypothesis and their meaningfulness was reached by using t and F statistics. On the other hand, the Durbin-Watson test was applied to examine the autocorrelation of the model. The results showed that: Leverage doesn’t have a meaningful impact on the cumulative abnormal returns; Systematic risk, P/E ratio, BM ratio and the size of the firm would significantly affect the cumulative abnormal returns.
Khajavi,S. , Valipor,H. and Hakami,B. (2012). Analysis of the Relationships Between Capital Structure and Cumulative Abnormal Returns (case Study :Tehran securities Exchange). Journal of Investment Knowledge, 1(تابستان 1391), 141-152.
MLA
Khajavi,S. , , Valipor,H. , and Hakami,B. . "Analysis of the Relationships Between Capital Structure and Cumulative Abnormal Returns (case Study :Tehran securities Exchange)", Journal of Investment Knowledge, 1, تابستان 1391, 2012, 141-152.
HARVARD
Khajavi S., Valipor H., Hakami B. (2012). 'Analysis of the Relationships Between Capital Structure and Cumulative Abnormal Returns (case Study :Tehran securities Exchange)', Journal of Investment Knowledge, 1(تابستان 1391), pp. 141-152.
CHICAGO
S. Khajavi, H. Valipor and B. Hakami, "Analysis of the Relationships Between Capital Structure and Cumulative Abnormal Returns (case Study :Tehran securities Exchange)," Journal of Investment Knowledge, 1 تابستان 1391 (2012): 141-152,
VANCOUVER
Khajavi S., Valipor H., Hakami B. Analysis of the Relationships Between Capital Structure and Cumulative Abnormal Returns (case Study :Tehran securities Exchange). Journal of Investment Knowledge, 2012; 1(تابستان 1391): 141-152.