孟加拉国非银行金融机构会计信息和股票价格协会

Farzana Boby
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摘要

我们的研究旨在探讨在达卡证券交易所上市的非银行金融机构(NBFI)的会计信息与市场股票价格之间的关系。本文选取了23家上市公司中的12家非银行金融机构(NBFI)作为研究对象。本研究采用Ohlson(1995)的基本价值评估模型。采用多元简单线性回归技术确定自变量对因变量的解释能力。数据分析在IBM SPSS v. 20软件中进行。本模型对会计信息的估计回归系数和调整后的R2进行了检验。本文以每股收益(EPS)、每股资产收益率(ROA)、每股净资产收益率(ROE)和每股账面价值(BV)为自变量,以市场股价为因变量。研究结果表明,各自变量对股价预测均具有一定的影响力。从个体效应分析来看,EPS和ROA是决定该选定行业股价的最具影响力的变量。因此,在四个自变量中,EPS和ROA被认为是股权投资者最具价值相关性的会计信息。
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Association of Accounting Information and Stock Price of Non-Banking Financial Institutions of Bangladesh
Our study is intended to look into the association between accounting information and market stock price for the Non-Banking Financial Institutions (NBFI) listed on the Dhaka Stock Exchange. For this study purpose, we take 12 Non-Banking Financial Institutions (NBFI) out of 23 listed companies. For this study purpose, Ohlson ‘s (1995) basic valuation model has been used. Multiple and simple linear regression technology is used to ascertain the explanatory power of independent variables on the dependent variable. Data analysis is carried out in IBM SPSS v. 20 software. Estimated regression coefficients and adjusted R2 of accounting information are tested in this model. Here we take Earning per share (EPS), Return on Asset (ROA), Return on Equity (ROE), and Book Value (BV) per share are independent variables and Market share price as the dependent variable. Findings from this study indicate that all the independent variables have the influencing power in forecasting the share prices. From the individual effect analysis, it is clear that EPS and ROA are the most influential variables for determining the stock price for this selected industry. Thus, among the four independent variables EPS and ROA are considered the most value-relevant accounting information for equity investors.
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