Pages: 7-11

Abstract

The current research aims to examine the impact of R&D expenditure volatility on stock return of the listed companies in Tehran stock exchange. To determine the statistical population of the research during 2009 to 2013, 324 out of 405 listed companies in Tehran stock exchange were selected based on the systematic elimination method, and 86 firms were chosen through De Morgan table as the final sample. In this research, R&D expenditure volatility and stock return were regarded as the independent and dependent variables, respectively. EVIEW7 software is applied for data analysis in this investigation. The results showed that R&D expenditure volatility significantly impacts stock returns of the listed companies in Tehran stock exchange.