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Investigate the Relationship between the Impact of Future Investment Forecasts on the Value of the Company: Cash Component and Profitability Component of Selected Industries in Tehran Stock Exchange
Journal: Iranian Journal of Business and Economics
Issue: Iranian Journal of Business and Economics (Volume: 5, Issue: 3)
Author: Atiyeh Gilan , Mohammad Gholami Baladezaei , Mahmoud Bani
Keywords : company value , future investment , Profit sustainability , prediction
Abstract:

The value of the company is the sum of the measures that help the company's stock prices to grow and shareholders will benefit from this. Financial analysts and investors are not interested in determining future cash flows to the figure of accounting profit as the only decisive indicator, but the sustainability and repeatability of reported earnings is also very important. Stability of profit consists of two components: cash and accrual. From the most complex issues, describing the decision-making process of individuals and how they judge the company's investments are based on the characteristics and criteria such as the value of the company and the sustainability of the company's profits. This issue has led to this study to investigate the effect of future corporate value prediction with regard to the role of the stability of the cash component and accrual of the profit of 110 top companies of Tehran Stock Exchange. The research period is from 2011 to 1395. The realm of research consists of the top 110 Tehran Stock Exchange companies, which during the specified period the number of companies is based on criteria such as transparent financial functions, disclosure of social responsibility, attention to shareholders' rights and .... According to the mentioned purpose, the hypothesis of this study was statistically analyzed. The statistical method used to test the hypothesis, the statistics, the simple and multi-variable regression technique, along with the test of the model and self-correlation test for hypothesis testing were used. In order to calculate the profitability of the two components of cash and accrual earnings, we regressed the final stability model of profit. The results of the research show that future investment forecast increases the effect of cash gains more than negative components of corporate profits.

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