{"id":11935,"date":"2015-03-15T16:16:27","date_gmt":"2015-03-15T12:46:27","guid":{"rendered":"http:\/\/www.irantahgig.ir\/?p=11935"},"modified":"2015-03-22T01:49:47","modified_gmt":"2015-03-21T22:19:47","slug":"%d8%b1%d9%8a%d8%b3%d9%83-%d8%b3%d9%88%d8%af-%d9%85%d8%a7%d8%b2%d8%a7%d8%af%d8%8c-%d8%a7%d8%b1%d8%b2%d8%b4%e2%80%8c-%d9%87%d8%a7%d9%8a-%d8%b0%d8%a7%d8%aa%d9%8a-%d9%88-%d9%82%d9%8a%d9%85%d8%aa%e2%80%8c","status":"publish","type":"post","link":"http:\/\/www.irantahgig.ir\/?p=11935","title":{"rendered":"\u0631\u06cc\u0633\u06a9 \u0633\u0648\u062f \u0645\u0627\u0632\u0627\u062f\u060c \u0627\u0631\u0632\u0634\u200c \u0647\u0627\u06cc \u0630\u0627\u062a\u06cc \u0648 \u0642\u06cc\u0645\u062a\u200c \u0647\u0627\u06cc \u0633\u0647\u0627\u0645"},"content":{"rendered":"

Residual income risk, intrinsic values, and share prices <\/span><\/p>\n

\u062a\u0627\u0631\u06cc\u062e:<\/strong> \u06f2\u06f0\u06f0\u06f3<\/span><\/p>\n

\u067e\u0627\u06cc\u06af\u0627\u0647: <\/strong>\u06af\u06cc\u0644<\/span><\/p>\n

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\"OK\"<\/span><\/p>\n

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<\/span><\/p>\n

\u0646\u0627\u0645 \u0645\u062c\u0644\u0647:\u00a0<\/strong>The Accounting Review<\/span><\/span><\/p>\n

\u0642\u06cc\u0645\u062a:<\/strong> \u06f1\u06f0\u06f0,\u06f0\u06f0\u06f0 \u0631\u06cc\u0627\u0644<\/span><\/p>\n

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\u06a9\u062f:<\/strong> <\/strong>\u06f2\u06f0\u06f0\u06f3\u06f2<\/span><\/p>\n

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\n<\/span><\/p>\n

\u0686\u06a9\u06cc\u062f\u0647 \u0627\u0646\u06af\u0644\u06cc\u0633\u06cc<\/span><\/h3>\n

Empirical accounting research provides surprisingly little evidence on whether accounting earnings numbers capture cross\u2010sectional differences in risk that are associated with cross\u2010sectional differences in share prices. We address two questions regarding the risk\u2010relevance of accounting numbers: (1) Are accounting\u2010related risk measures (i.e., the systematic risk and total volatility in a firm’s time\u2010series of residual return on equity) associated with the market’s assessment and pricing of equity risk? (2) If so, then are these accounting\u2010related risk measures incrementally associated with the market’s assessment and pricing of equity risk beyond other observable factors, such as those in the Fama and French (1992) three\u2010factor model?We develop an accounting\u2010fundamentals\u2010based measure of the market’s pricing of risk\u2014the difference between actual share price and a residual income valuation model estimate of share value using risk\u2010free rates of return. Our results show that both systematic risk and total volatility in residual return on equity partially explain this pricing differential, and that the explanatory power of total volatility is incremental to the Fama and French (1992) factors\u2014market beta, firm size, and the market\u2010to\u2010book ratio<\/span><\/p>\n

\u0645\u0634\u062e\u0635\u0627\u062a \u0627\u0633\u062a\u0646\u0627\u062f\u06cc<\/strong><\/span><\/h3>\n

Baginski, S. P., & Wahlen, J. M. (2003). Residual income risk, intrinsic values, and share prices. The Accounting Review, 78(1), 327-351<\/span><\/p>\n

\u062f\u0627\u0646\u0644\u0648\u062f \u0627\u0635\u0644 \u0645\u0642\u0627\u0644\u0647<\/span><\/h3>\n

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\u0645\u0642\u0627\u0644\u0647 “\u0631\u06cc\u0633\u06a9 \u0633\u0648\u062f \u0645\u0627\u0632\u0627\u062f\u060c \u0627\u0631\u0632\u0634\u200c \u0647\u0627\u06cc \u0630\u0627\u062a\u06cc \u0648 \u0642\u06cc\u0645\u062a\u200c \u0647\u0627\u06cc \u0633\u0647\u0627\u0645” \u062f\u0631 \u0633\u0627\u0644 \u06f2\u06f0\u06f0\u06f3 \u062f\u0631 \u0645\u062c\u0644\u0647\u00a0The Accounting Review \u0648 \u062f\u0631 \u067e\u0627\u06cc\u06af\u0627\u0647 \u0627\u0637\u0644\u0627\u0639\u0627\u062a\u06cc \u06af\u06cc\u0644 \u0646\u0645\u0627\u06cc\u0647 \u0634\u062f\u0647 \u0627\u0633\u062a. \u062f\u0631 \u0627\u06cc\u0646 \u0645\u0642\u0627\u0644\u0647\u00a0\u0645\u0633\u0627\u0626\u0644 \u0645\u0631\u0628\u0648\u0637 \u0628\u0647 \u0627\u062e\u062a\u0644\u0627\u0641\u0627\u062a \u0645\u0642\u0637\u0639\u06cc \u0633\u0648\u062f\u06cc \u062d\u0633\u0627\u0628\u062f\u0627\u0631\u06cc \u0628\u0627 \u0627\u062e\u062a\u0644\u0627\u0641\u0627\u062a \u0645\u0642\u0637\u0639\u06cc \u062f\u0631 \u0642\u06cc\u0645\u062a\u200c\u0647\u0627\u06cc \u0633\u0647\u0627\u0645 \u0648\u00a0\u0631\u06cc\u0633\u06a9 \u0633\u06cc\u0633\u062a\u0645\u0627\u062a\u06cc\u06a9 \u0648 \u0645\u062c\u0645\u0648\u0639 \u062a\u063a\u06cc\u06cc\u0631\u067e\u0630\u06cc\u0631\u06cc \u062f\u0631 \u0628\u0647\u0631\u0647 \u0645\u0627\u0632\u0627\u062f \u062d\u0642\u0648\u0642 \u0635\u0627\u062d\u0628\u0627\u0646 \u0633\u0647\u0627\u0645 \u0645\u0648\u0631\u062f \u0645\u0637\u0627\u0644\u0639\u0647 \u0642\u0631\u0627\u0631 \u06af\u0631\u0641\u062a\u0647 \u0627\u0633\u062a. \u0647\u0645\u0686\u0646\u06cc\u0646 \u0628\u0631\u0627\u0633\u0627\u0633 \u0627\u0637\u0644\u0627\u0639\u0627\u062a \u067e\u0627\u06cc\u06af\u0627\u0647 \u0627\u0637\u0644\u0627\u0639\u0627\u062a\u06cc \u06af\u0648\u06af\u0644 \u0627\u0633\u06a9\u0648\u0644\u0627\u0631 \u06f1\u06f1\u06f2 \u0628\u0627\u0631 \u0645\u0648\u0631\u062f \u0627\u0633\u062a\u0646\u0627\u062f \u0642\u0631\u0627\u0631 \u06af\u0631\u0641\u062a\u0647 \u0627\u0633\u062a.<\/span><\/p>\n

\t\n\n\t\t\n\t\t

\n\t\t\t100,000 \u0631\u06cc\u0627\u0644 – \u067e\u0631\u062f\u0627\u062e\u062a \u0648 \u062f\u0627\u0646\u0644\u0648\u062f \u0645\u0642\u0627\u0644\u0647 \u0628\u0647 \u0647\u0645\u0631\u0627\u0647 \u062a\u0631\u062c\u0645\u0647<\/span> <\/span><\/a>\u0646\u0647\u0627\u06cc\u06cc \u06a9\u0631\u062f\u0646 \u062e\u0631\u06cc\u062f<\/a>\n\t\t\t\t\t\t\t\n\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\t\n\t\t\t\t\t\t<\/svg>\n\t\t\t\t\t\t\u0645\u0648\u0631\u062f \u0628\u0647 \u0633\u0628\u062f \u062e\u0631\u06cc\u062f \u0627\u0636\u0627\u0641\u0647 \u0634\u062f\t\t\t\t\t<\/span>\n\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\n\t\t

Residual income risk, intrinsic values, and share prices \u062a\u0627\u0631\u06cc\u062e: \u06f2\u06f0\u06f0\u06f3 \u067e\u0627\u06cc\u06af\u0627\u0647: \u06af\u06cc\u0644 \u0644\u06cc\u0646\u06a9 \u062f\u0627\u0646\u0644\u0648\u062f \u0627\u0635\u0644 \u0645\u0642\u0627\u0644\u0647<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[84,127,211,213],"tags":[],"_links":{"self":[{"href":"http:\/\/www.irantahgig.ir\/index.php?rest_route=\/wp\/v2\/posts\/11935"}],"collection":[{"href":"http:\/\/www.irantahgig.ir\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.irantahgig.ir\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.irantahgig.ir\/index.php?rest_route=\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"http:\/\/www.irantahgig.ir\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11935"}],"version-history":[{"count":5,"href":"http:\/\/www.irantahgig.ir\/index.php?rest_route=\/wp\/v2\/posts\/11935\/revisions"}],"predecessor-version":[{"id":11990,"href":"http:\/\/www.irantahgig.ir\/index.php?rest_route=\/wp\/v2\/posts\/11935\/revisions\/11990"}],"wp:attachment":[{"href":"http:\/\/www.irantahgig.ir\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11935"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.irantahgig.ir\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11935"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.irantahgig.ir\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11935"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}