TY  - JOUR
T1  - The Investigation of the Effect of New Liquidity Indicators on the Predictability of
Stock Returns of Companies Listed on Tehran Stock Exchange
AU - Najafi, Tayebeh AU - Ghanbari, Mehrdad 
JO  - International Business Management
VL  - 10
IS  - 30
SP  - 6789
EP  - 6794
PY  - 2016
DA  - 2001/08/19
SN  - 1993-5250
DO  - ibm.2016.6789.6794
UR  - https://makhillpublications.co/view-article.php?doi=ibm.2016.6789.6794
KW  - New indicators of liquidity
KW  -profitability
KW  -stock
KW  -stock exchange
KW  -predictability
AB  - Company returns is one of the important information in economic decisions which serves as an
incentive for investors. As a result it is important to identify factors affects it. The aim of present study was to
evaluate the impact of new liquidity indicators on the predictability of stock returns of companies listed on the
Tehran Stock Exchange. This study is applied, descriptive-survey research and the relationship between the
variables is causal. In present study, panel data was used to estimate the model. The research methodology is
ex post facto (through the use of past information). The hypothesis of this study was going to investigate the
effect of a comprehensive index of liquidity, net cash balances, compliance procedures of current debt and
receivables maturities cash conversion cycle, Lambda method and adjusted cash conversion cycle index on
predictability of stock returns of companies listed on Tehran Stock Exchange. In current research the statistical
tests, correlation and multiple regression and tests t were used. The research population was consisted of
companies listed on Tehran Stock Exchange (635 companies) and sample size was 125 and sampling method
was removal. Statistical Software (Eviews) was used to test hypothesis. The results showed that comprehensive
index of liquidity net cash balances, compliance procedures of current debt and receivables maturities, cash
conversion cycle, Lambda method (to calculate liquidity) and the adjusted cash conversion cycle has a
significant impact on the predictability stock return of companies listed on the stock exchange.
ER  -