بررسی تاثیر تغییرات بازار بورس اوراق بهادار بر راندمان شرکت ها

The purpose of this research is to investigate the effect of stock market fluctuations on the performance of companies. The desired criteria for measuring the performance of companies are return on equity (ROE) ˓ return on assets (ROA) ˓ net profit and economic added value and the desired criterion for fluctuations ˓ share of monthly stock returns is . In addition, in this research, we are looking for the relationship between company size and performance, as well as the relationship between GDP growth and performance. The sample of this research includes the cement companies present in the Tehran Stock Exchange, 15 companies were selected considering the desired limitations and were investigated during a period of 9 years (1390-1400 AD). The statistical method used to analyze the models in this research is the GMM method, and the results obtained are as follows: 1- With the increase in stock market fluctuations, the company’s performance in all four dimensions (return on assets, equity return, net profit and added value) economic) will decrease. Therefore, according to the collected information, the research hypothesis that “stock market fluctuations have a significant relationship with the performance of companies” was accepted in three cases of added value and net profit and return on assets. But the hypothesis about ROE was not confirmed. 2- The growth of the gross national product has a significant relationship with the performance of the companies. 3- The size of the company has a significant relationship with the performance of the company in terms of the three indicators of stock return, return on assets and net profit, but this relationship is insignificant in terms of added value.