Assets in Future Abnormal Stock Returns of Companies Listed in Tehran Stock Exchange

The main purpose of this study was to assess the effect of changes in non-current operating assets in future abnormal stock returns. To test research hypotheses of multiple linear regression model using panel data was used. Statistical research, stock companies listed on the Tehran Stock Exchange during the year is Hay 1390-1395. We examine the effect of changes in non-current operating assets (NCOA) and of changes in Fixed Assets (FA) on future abnormal stock returns. The results from this examine indicate that abnormal returns from investing have inverse relation with changes in non-current operating assets (NCOA) and of changes in Fixed Assets (FA). This inverse association is confirmed by cross-sectional regressions. Changes in FA drive the predictability of share returns with respect to changes in NCOA.