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Title
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The relationship of fnancial performance and stock returns in countries under economic sanctions
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Type
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JournalPaper
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Keywords
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Economic performance · Financial performance · Stock exchange ·portfolio selection, EVA · Stock returns · Return on assets
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Abstract
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Accounting and economic evaluation criteria play an important role in assessing the performance of the frms. Choosing proper criteria for such evaluation has been reported in reviews of literature on fnancial management. The present study aims to fnd the relationship between economic value added (EVA) as the criterion for evaluating economic performance, and return on assets and stock returns as indicators of economic accomplishment. For this, our statistical community includes 1104 companies from Iran (between 2011 and 2018) and 1058 companies from Venezuela (between 2011 and 2017). Results of analysis showed that there was a reverse signifcant relationship between EVA and stock returns in two stock exchanges of Iran and Venezuela because of the signifcance level less than 0.05 and coefcient by −1.2. On the other hand, there was no such relationship observed between EVA and return on assets because the signifcance level was found higher than 0.05.
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Researchers
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LEYLA JABARI (Fourth Researcher), (Third Researcher), Davood Jafari Seresht (Second Researcher), Ali A Gholizadeh (First Researcher)
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