تأثير معلومات حركة العاملين في عائد مخاطرة الأسهم : دراسة تحليلية في سوق العراق للأوراق المالية

الملخص EN

This study aims to investigate the instability and homogeneity of the workforce in the pricing, returns and risk model of stocks and highlight the fact that the costs of adjusting employment are higher for highly skilled workers than for low-skilled workers.

the model predicts that the negative relationship between employment and expected return should be more severe in industries that rely more on the movement of highly skilled workers because company employment responds less flexibly to changes in the discount rate (required rate of return) when the costs of adjusting employment are higher.

in the model, we show that predicting a change in equity returns also applies to additional sources of labour force heterogeneity such as high wage rates for highly skilled workers.

experimentally, we document the impact of reflected information on the movement of workers in indicators of expected return on employment the research was based on a problem involving an intellectual debate between many previous researches about the impact of reflected information on the movement of employees to and from the company on equity returns and risks.

the analytical descriptive approach has been relied upon and a sample of companies listed on the race stock exchange has been selected through reports and financial statements issued by these companies for the period 2004 to 2020 and based on statistical means, methods and analytical programs.

the results showed the rejection of zero hypotheses and the evidence of the hypothesis of the existence of impact and correlation, but a few indicators by proving that there is a correlation and moral effect of independent variable indicators in the indicators of the variable of the affiliate represented by the indicators of return and risk compared to the companies' sample research, through sub hypotheses, and in both analyses at the company level and at the sector level.

together, our results show that the instability and homogeneity of the workforce affect asset prices in financial markets.