Acta Universitatis Danubius. Œconomica, Vol 8, No 2 (2012)

Review of Relationship between Capital and Stock Return in Automotive and Cement Industries at Tehran Stock Exchange

Gholamhossein Gholami, Ramin Ansarian, Ali Etemadi, Hamide Rasi



This study is intended to consider relationship between Increase of capital and Shares return in Automotive and Cement industries at Tehran Stocks Exchange. Statistical population under this study consists of any related companies to Automotive and Cement industries which were accepted in Tehran Stocks Exchange during 2005 to 2010. The Statistical population has been divided to experimental and control group, while experimental group faced with increase in capital the other group was not; 27 companies from first group and 12 companies of second group were chosen as statistical samples under this study. Student’s T-test and paired T-test were utilized in order to test hypotheses of this study and 19SPSS software was applied for analyzing data. Results have indicated increase in capital is not positive factor to increase in shares return. On the other hand, there is no impact of increasing in capital on shares return in the companies of Automotive and Cement industries which were accepted at Tehran Stocks Exchange. 


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