أثر جودة الأرباح المحاسبية على عوائد الأسهم: دراسة ميدانية على شركات المساهمة المدرجة في بورصة باريس

Résumé: To find out whether the accounting earnings quality disclosed by a number of companies has an impact on Stock Returns, this study came to reveal this relationship in industrial, technological and service shareholding companies listed on the Paris Stock Exchange within the index (CAC All-Tradable). This is achieved by taking half of the annual data during the period (2017-2019). Concerning the Accounting Earnings Quality, it was expressed through both the Accrual Approach by the absolute value of the Discretionary Accruals using the model (Kothari et al, 2005), and an entry for Real Activities utilizing two models of (Roychowdhury, 2006) and (Zang, 2012). Moreover, some control variables have been added to the study, and by applying the longitudinal data models, the study concluded that there is no significant relationship between the accounting earnings quality through accruals and between Stock Returns. It also deduced that there is no statistically significant relationship between the quality of accounting profits through Real Activities and Stock Returns. On the other hand, this research work indicates that there is a statistically significant relationship between financial leverage, rate of return on assets, net operating cash flow per share, growth rate on assets, and Stock Returns.

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