Univrsity Of Tehran Press Accounting and Auditing Review 2645-8020 20 1 2013 05 22 The Relation among Growth Opportunities in Valuation of Free Cash Flow The Relation among Growth Opportunities in Valuation of Free Cash Flow 113 132 35521 10.22059/acctgrev.2013.35521 FA Yahyazadehfar Yahyazadehfar Shams Shams Pakdin Amiri Pakdin Amiri Journal Article 2013 10 30 This paper examines empirically the effect of firm growth opportunities on the market valuation of free cash flow. An accounting-based valuation framework is developed where stock returns are regressed on free cash flow <span style="mso-bidi-font-family: 'B Mitra';">interacted</span> with growth opportunities proxy, after controlling for book values, dividends, and current earnings. Required data from 89 companies over a ten year period is quarterly gathering. According to the result, it can in decisions affecting corporate managers and investors are to achieve an appropriate return in the Iranian capital market. The results indicate a significant positive relationship between free cash flow and return on equity with growth opportunities.       This paper examines empirically the effect of firm growth opportunities on the market valuation of free cash flow. An accounting-based valuation framework is developed where stock returns are regressed on free cash flow <span style="mso-bidi-font-family: 'B Mitra';">interacted</span> with growth opportunities proxy, after controlling for book values, dividends, and current earnings. Required data from 89 companies over a ten year period is quarterly gathering. According to the result, it can in decisions affecting corporate managers and investors are to achieve an appropriate return in the Iranian capital market. The results indicate a significant positive relationship between free cash flow and return on equity with growth opportunities.       https://acctgrev.ut.ac.ir/article_35521_35d823b496846c48c1d98c954aeb0964.pdf