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The effect of oil price fluctuations and stock returns on the investment level of companies
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Sohrab Osta1   , Behrang Parsafard2 , Hadi Sheykhi2 |
1- Assistant Professor, Accounting, Faculty of Humanities, Ilam University, Ilam, Iran , s.osta@ilam.ac.ir
2- PhD Student, Accounting, Faculty of Management and Accounting, Allameh Tabataba'i University, Tehran, Iran |
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Abstract: (26 Views) |
The behavior of crude oil prices has become more unstable since 1973, and this has had a significant impact on the behavior of macroeconomic variables such as GDP, inflation, and productivity. The results of recent studies indicate the small effect of oil price changes on decision-making at the level of companies; Fluctuations in oil prices create uncertainty about company profitability, valuations, and investment decisions. This article examines the effect of oil price fluctuations and stock returns on the investment of companies admitted to the Tehran Stock Exchange. The current research is of applied type and retrospective in terms of time. Also, the statistical sample of the research includes 105 companies admitted to the Tehran Stock Exchange between 1394 and 1400. The research results show that oil price fluctuations and stock return fluctuations have a significant effect on the investment level of the sample companies. This means that companies postpone their investments in the face of oil price fluctuations; Also, in response to the increase in the volatility of stock returns, they increase their investor level. Also, the results indicate that stock return fluctuations have less effect on the investment level of companies compared to oil price fluctuations.
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| Keywords: Stock returns, oil prices, corporate investment, volatility, environmental volatility |
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Full-Text [PDF 1274 kb]
(12 Downloads)
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Type of Study: Research |
Subject:
Management
Received: 2024/06/9 | Accepted: 2024/11/6 | Published: 2025/07/1
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