The relationship of the content of the market value in the explanation of abnormal stock returns of listed companies in Tehran stock exchange

In this article, the relation between market value in determining the abnormal yield of the accepted company's share in Stock Exchange has been studied. Stock exchange has always been one of the most attractive fields for investors in our country, especially in recent years. Therefore, it is necessary to conduct specific researches in order to specify some criteria related to the expected return to investors so that the companies be able to rely on them to provide a safe investment. Data of this research is a combination of financial variants of accepted companies listed in Tehran Stock Exchange for a period of 10 years (2004-2013) is recent. Methodology of the research, using panel data and testing the hypotheses has been conducted through Fisher's F test. The results imply the confirmation of the negative relationship between the book value of the properties and the market value of total assets if there is a variant of market value. It also shows that the relevance value of the market variant which is the total equity of stockholders plus the value total debt is less than the book value of assets in stocks is explaining abnormal returns. (C) 2016 The Authors. Published by Elsevier B.V.