عنوان مقاله [English]
Investors, creditors and financial analysts may be keen on collecting more information on the profit levelling of investment companies, above all, with regard to the risk and performance factors. Research on the profit levelling has been conducted by a large number of scholars (Dapouch and Drick, 1966- Gordon 1966 - Sarvy , 1966 - Rchibald and Sproos, 1967 - Ahmadi Badri , 1998- Ahmad Paripour, 2001). An investigation conducted by Michelson and his colleagues indicates that the profit levelling primarily affects the stock return of companies with a positive market atmosphere.
The outcome has proved that levelling will not affect the abnormal returns of companies whilst industry-cum-levelling has been effective on such returns. By extension, it can be concluded that levelling-cum-capital increase will act as an effective factor on the abnormal returns of companies accepted at Tehran Stock Exchange. The assessment shows a weak position.