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The Impact of the Business Cycle on the Performance of Companies Active in the Automotive Industry and Parts, Pharmaceuticals and Chemical Products
Journal: Iranian Journal of Business and Economics
Issue: Iranian Journal of Business and Economics (Volume: 5, Issue: 4)
Author: Esmail Rafati , Seyed Kazem Ebrahimi , Mahmoud Bani
Keywords : trading cycle , volatility , performance , stock exchange
Abstract:

Commercial cycles are a kind of fluctuation that arises in the overall economic activity of countries that have built their economies most often based on the market economy or the activity of business firms. A cyclone with expansion and boom will begin almost simultaneously in most economic activities, and periods with a similar range of general recessions will slow down and begin a boom. And again, after a while, it leads to a boom in the next cycle. This sequence of changes is repeatable, but lacking in definite rotation. Periodically, the duration of business cycles varies from one year to ten or twelve years, which can not be subdivided into shorter cycles with similar characteristics and fluctuations. This research examines the impact of the business cycle on the performance of companies active in the automotive industry, parts, pharmaceuticals, and chemical products. The statistical population of the study consists exclusively of all listed companies in Tehran Stock Exchange. Eviews software is used to analyze the data. The results showed that the business cycle has a significant effect on the performance of the companies active in the automotive and parts industry. But the business cycle has no significant effect on the performance of active companies in the pharmaceutical and chemical products industry.

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