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Showing 3 results for Souri

Ali Souri,
Volume 6, Issue 20 (7-2015)
Abstract

This study considers the subject of social capital measurement and its problems. Because of the social capital is the qualitative subject, therefore its measurement have special problems, and there is no the same approach in this matter. These problems are in both of international and national level. For the reason, there are different methods to measure social capital. These methods have caused their results to be different and sometimes conflict. These differences are very high, such that the correlation between these indexes is sometime zero, negative and positive.


Abolfazl Sadeghi Batani, Ali Souri, Ebrahim Eltejaei,
Volume 7, Issue 26 (12-2016)
Abstract

The main purpose of this study, is to evaluate the effect of diversion earnings forecast and earnings realized on returns stocks in Tehran Stock Exchange. In fact, this research aims to examine the diversion of earnings resulting from the diversion of corporates managers forecasts earnings, what impact these diversion of earnings have on the returns of stock price. To achieve this, 194 companies listed in the Tehran Stock Exchange selected in the period of 2005-2013.
In this study, two groups of companies experienced the highest returns and lowest returns over the period studied, have been selected. Multi-factor model of Fama and French (1993) was used as the theoretical basis. The results indicate that forecasts of companies have experienced highest returns in comparison with lowest returns are more cautious and accurate than prediction of their future earnings. Changes in earnings realized and Tehran Stock Exchange index returns have positive and considerable relationship with stock returns as well, but these relationships for companies with highest returns are stronger than companies with lowest returns.


Sadeq Rezaei, Professor Mohsen Mehara, Ali Souri,
Volume 11, Issue 40 (6-2020)
Abstract

In financial markets, the symmetry of information and the homogeneous interpretation of information among traders is one of the main conditions for market efficiency, but these conditions are in fact violated. In this paper first; we accurately estimated the dynamic measures of trades stemming from information asymmetry and diverse opinions among investors indices by a hidden Markov model. Thereafter, we consider an event window of 21 days to investigate impact of information disclosure on that indices. For this purpose, we estimated the daily measures of probability of informed trading (PIN) and symmetric-order flow shock (PSOS) 32 Tehran Stock Exchange (TSE) stocks belonging to 11 industries of TSE during the period from 2015 to 2018. PIN is an indicator of asymmetric information risk and PSOS indicating diverse opinions among investors whose variations and intensity play an important role in price formation and stock liquidity. These results show that in most stocks that have higher market value experience less risks of asymmetric information and diverse opinions shocks than other stocks. Entirely, it appears that the average and the maximum of information risk and diverse opinions shocks at TSE are higher than in developed markets. Also, information disclosure decreases PIN for three days and increases PSOS for 10 days, significantly, but its impact on PIN is weaker than PSOS. Actually, in TSE, information advantage of some informed traders are independent of announcements as well as announcements causes opinion diversities to rise and stand up.


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