دراسة قدرة مؤشرات الأداء المالي التقليدية و الحديثة في تفسير عوائد الأسهم : دراسة حالة الشركات المدرجة في بورصة قطر للفترة (2010-2015)‎

الملخص EN

In our study, we aim to test the ability of traditional performance indicators (ROE & ROA) compared to the recent EVA & MVA in interpreting stock returns.

The study sample includes 30 companies listed on the Qatar Stock Exchange for the period 2010-2015.

We use simple and multiple linear regression models, stability tests as well as BDS test to examine efficiency at the weak level.

The estimation results showed the existence of positive relationship between all the traditional and modern financial performance indicators studied and stock returns , except for the recent indicator of economic value added, the traditional indicators outperforms stock returns, with an interpretation rate of 44.6%, compared to recent indicators that did not exceed 30%.

In addition, we found that the Qatar Exchange market is not efficient at the weak level.