An Impirical Investigation of the Effects of Financial Statement Analysis in Predicting Future Dividend of the Firm Member in Tehran Stick Exchange

Prediction of dividend is an important factor for decision making. Financial statement analysis can used for divided prediction . Decision makers usually consider earnings as a signal for dividend figure . In this research two hypothesis are investigated : 1) There is a relation between financial variables / ratios ( other than earning figure alone ) and dividend and 2) financial variables / ratios are useful for prediction of dividend by using model . For that ,194 firms member in Tehran Stock Exchange were investigated .Methodology of research is correlation . Dependent variable is dividend and independent variables are 24 financial variables / rations .
At first , the model was derived by using 1375-1380 data and the it’s fitness was evaluated . 8 variables was remained in model . For more confidence those process were done with 1375-1379 data and dividends of 1380 were predicted . It showed about 75 percent of real dividends in 1380 were between upper / lower limit at 95 percent level . Then the research hypothesis were confirmed . The non – earning / non-dividend variables are debit to total assets , equity . inventory to assets , debit and share price before stockholder’s meeting . Other variables are EPS , ROI , net sales to equity.