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1、SaiedSafaniaetal,Int.J.Buss.Mgt.Eco.Res.,Vol2(4),2011,278-283RelationshipbetweenLongTermDebt-to-EquityratioandSharePrice–astudyonNSE,INDIA(2007-2010)1–SaiedSafania,2-Dr.B.Nagarajuand3-MahboobehRoohim.s.safania@gmail.com1-DepartmentofStudiesinCommerce,UniversityofMys
2、ore,Mysore,INDIA2-DepartmentofStudiesinCommerce,UniversityofMysore,Mysore,INDIA3-Departmentofstudiesincommunicationsscience,AyatollahAmoliBranch,IslamicAzadUniversity,Amol,IRANAbstract:Themodelsmost-frequentlyappliedforpredictionoftheSharePriceincludetheCapitalAsset
3、sPricingModel,theso-calledCAPM,MarketModel,ArbitragePricingModel,andtheFactorModel.TheempiricalstudiescarriedoutonthefactorsandvariablesaffectingtheSharePricedemonstratethatthereexistnumerousvariablescapableofpredictingtheSharePricewithgreaterprecision.Includedamong
4、suchvariableisLongTermDebt-to-Equityratio.Financialstatementsarewidelyusedbystakeholderstoassesstheeconomicvalueoffirmsontheassumptionthataccountingnumbershaveacertainrelationshipwithequitymarketvalues.Thepresentstudyhasaimedatdescribingtherelationshipbetweenaccount
5、ingvariablewiththeSharePriceusingthecrosssectional-correlation.Keyword:Financialstatements,Accountingvariables,SharePrice,RatioIntroduction:Accountingplaysasignificantrolewithintheconceptofgeneratingandcommunicatingwealthofcompanies.Financialstatementsstillremainthe
6、mostimportantsourceofexternallyfeasibleinformationoncompanies.Themodelsmost-frequentlyappliedforpredictionoftheSharePriceincludetheCapitalAssetsPricingModel,theso-calledCAPM,MarketModel,ArbitragePricingModel,andtheFactorModel.Theempiricalstudiescarriedoutonthefactor
7、sandvariablesaffectingtheSharePricedemonstratethatthereexistnumerousvariablescapableofpredictingtheSharePricewithgreaterprecision.IncludedamongsuchvariableisLongTermDebt-to-Equityratio.Animportantvariantofthistypeofresearchhasbecomeknownintheliteratureasrelatingtoth
8、e‘valuerelevanceofaccountingvariables’.ThisstudyhasaimatidentifyingthevariableaffectingtheSharePricein(NSE).ReviewoftheLiterature:Sinaei.H
