This study examines the relationship between short-term and long-term stock returns of companies after initial public offering by considering financial variables and financial and ownership characteristics of companies on the Tehran Stock Exchange. The research sample includes 4560 companies that were publicly listed on the stock exchange in the period from 2013 to 2024, which constitute a total of 4560 company-years. Econometric methods and vector regression models have been used to test the hypotheses. First, the statistical description of the data has been discussed and then various tests including ADF and PP unit root tests to examine the stationarity of the data, Durbin-Watson test to examine autocorrelation, Chow test, F test and Hausman test have been used to select the appropriate model. The results of these tests show that the main hypothesis of the study is that there is a significant relationship between short-term and long-term stock returns of companies after initial offering is confirmed. Finally, the results of this study can be generalized with 95% confidence to the entire statistical population of the study, namely active investors in the Tehran Stock Exchange.

One of the most important factors on attracting foreign investors to invest on Tehran Stock Exchange is to have transparent accounting rules and regulations. When there are some consistency between national accounting standards and international accounting standards, we may, at least, expect foreign investors to have better understanding on financial statements. In 2006, there were some changes on Iranian national accounting standards in an attempt to make them closer to international accounting standards. In this study, we select the information of 153 firms five years before and after this regulation and study the effect of convergence from national accounting standards to international accounting standards on foreign direct investment. Using some statistical tests, the study has determined that there was no meaningful relationship between foreign direct investment before and after change on accounting standards. In addition, there was no difference on the information quality before and after change on accounting standards. However, there was some meaningful relationship between the information quality and foreign direct investment.

This paper presents an empirical study to determine the effects of different factors including present profit, depreciation, working capital, operating cash flow and other accruals on future earnings stability. The study selects the information of 124 selected firms from Tehran Stock Exchange over the period 2006-2012. Using two regression analysis, the study has determined that as the fluctuation of profit increases, the profitability increases too. In addition, the study has concluded that firms with minimum fluctuations preserve more stable profitability. Moreover, firms with higher fluctuation in profitability maintain more volatile profitability for the next consecutive period.

This paper presents an empirical investigation to study the effects of quality of earnings forecasts in predicting stock returns on 121 selected firms traded on Tehran Stock Exchange over the period 2009-2013. The study investigates the effects of three year means of earnings forecast accuracy on investors’ investment decisions in terms of volume and time horizon, i.e. short term and long term investment sentiment. Using some regression analysis, the study has determined a positive and meaningful relationship between the quality of earnings forecast and investment time horizon. However, the study did not find any meaningful relationship between earnings forecast accuracy and volume of investment.