Representation a Model of Forecasting Stock Price Changes Based on Restated Financial Statements
Quarterly Journal of Securities Exchange

Quarterly Journal of Securities Exchange

Representation a Model of Forecasting Stock Price Changes Based on Restated Financial Statements

Document Type : Original Article

Authors
1 Ph.D. Student in Department of Accounting, Urmia Branch, Islamic Azad University, Urmia, Iran.
2 Associate Professor of Accounting Department, Urmia Branch, Islamic Azad University, Urmia, Iran.
3 Associate Professor of Accounting Department, Faculty of Economics and Management, Urmia University, Urmia, Iran
Abstract
This study is aimed at providing a model for the pattern of forecasting stock price changes based on the restating of financial statement elements in the Tehran Stock Exchange. The findings show that in the period of 1 day and 3 days, none of the items presented in the balance sheet have had a significant impact on various stock price indices. While in the time period of 1 day before and after the restatement, the effect of the accumulated profit (loss) at the end of the period on different stock price indices was positive and significant. Among the items of the restatement of profit (loss), the restatement of profit (loss) before tax deduction, net profit (loss) and allocable profit (loss) has a significant impact on various stock price indices in the period of 1 day before and after on restatement. Among the items of restatement on the cash flow statement, the operational cash flow has a significant impact on various stock price indices in the period of 1 day before and after the restatement. While the change in the stock market price in the period of 3 days before and after the restatement was independent of the change caused by the restatement in the operational cash flow.
Keywords

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