Accounting and Auditing Research

Accounting and Auditing Research

The Effect of Unexpected Cash Changes on Surplus Returns in Uncertainty Conditions

Document Type : Original Article

Authors
Maryam Farshbaf Khoshnazar 1
Hoda Hemmati 2
1 M.A. of Accounting, Department Of Accounting, Roudehen Branch, Islamic Azad University, Roudehen, Iran
2 Assistant professor, Department Of Accounting, Roudehen Branch, Islamic Azad University, Roudehen, Iran
10.22034/iaar.2022.162399
Abstract
The purpose of this research is investigating the effect of unexpected cash changes on surplus returns in uncertainty conditions in companies which listed in Tehran Stock Exchange during 2010-2016. In this research, the unexpected changes in the cash were considered as independent variable and the surplus returns were considered as dependent variable. The current research is a descriptive and applied research. It is also considered as a correlation in the research category.
Based on the systematic elimination method, 147 companies were selected as the statistical sample. In order to analyze the data, variance heterogeneity pre-test, F Limer test, Hausman test and multivariate regression test were used to confirm and reject the research hypotheses (EVIEWS software).  The results showed that there is a significant and positive relationship between unexpected cash changes and surplus returns; in addition, the economic and special uncertainty conditions affect negatively the relationship between unexpected cash changes and surplus returns.
Keywords
Unexpected Cash Changes
Surplus Returns
Uncertainty
Accounting and Auditing Research
Volume 14, Issue 55
Summer 2022
Pages 193-208