Investigating the Relation Between Systematic Risk and Efficiency Indicators Based on Pricing the Financial Assets in Companies Accepted in Tehran Stocks

Abstract

An important factor in forecasting the stock expected revenue is systematic risk (Beta). Our financial investment becomes more creditable once we know the systematic risk of general stock in different firms. The current article explores the existence of a positive relationship between efficiency indicators (labour efficiency and capital indicators) and systematic risk (Beta) as dependant variables; the former as the independent variable and the latter as the dependent variable. The research population includes the firms engaged in Tehran stock market within six years; a sample of 102 members was selected. Also, some cases were singled out from financial bills dating from February 2005 until 2010. In order to examine the research's hypothesis, the required data were obtained from basic financial bills, the communities' reports and other documents available in Tehran stock market; and then Pierson correlation ship was applied for analysis. The results don't confirm the research hypothesis. At the end, a couple of recommendations on the subject are offered.