The relationship between Earnings Forecasts Quality and Investment Efficiency by Focus of Financial Crisis among Listed Companies on Tehran Stock Exchange.

Abstract

The present study evaluates the relationship between earnings forecasts quality by focusing the role of financial crises in listed companies in Tehran Stock Exchange. In this way, the researcher selected 123 companies listed on Tehran Stock Exchange through systematic sampling for a five-year period (from the beginning of 2012 to the end of 2017) and provided the necessary data by referring to financial statements and reports of board directors in companies Sample, to test developed hypotheses. Statistical Findings using linear regression, multivariate regression, panel data and constant effects showed that there was a positive and significant relationship between the earnings forecasts quality and the investment efficiency, and the financial crises weakened this relationship.