عنوان مقاله [English]
نویسنده [English]چکیده [English]
One of the ordinary questions asked for many years is that dose periodical or cross sectional macroeconomics’ performance have any effect on financial relations? Hard volatilities in macroeconomic (growth and) can affected on capital market and financial relation. Most of the study have ignored effects’ macro economy. In all of financial studies earnings-returns relation is one of significant matters from 60’ decade and many studies have been done about it. This study provides results concerning the earnings-returns relation in periods of poor versus strong macroeconomic performance. For lesting of hypotheses, multi variables regression with application data in Tehran stock exchange from 1999-2009 is used. We found that there is Significant Relationship between earnings-abnormal returns, but when Macroeconomic volatilities are added to this relation, there is no Significant Relationship between earnings-returns.