International Journal of Finance & Managerial Accounting

International Journal of Finance & Managerial Accounting

Investigating the Effect of Salience Phenomenon on the price and Trading Volume of Shares of Companies Admitted to the Tehran Stock Exchange

Document Type : Original Article

Authors
Khadijeh Rabiee 1
Iman Shahin far 2
1 Assistant Professor in Accounting, Payam-e Noor University, Golestan, Iran
2 MSc. student in accounting, Payam-e Noor University, Behshahr, Mazandaran, Iran
10.22034/ijfma.2025.77973.2183
Abstract
The aim of this research was to investigate the effect of salience phenomenon on the price and trading volume of shares of companies admitted to the Tehran Stock Exchange. The price, the volume of stock transactions and the company’s salience phenomenon were considered as dependent and independent variables, respectively. This research is considered to be applied research from the objective aspect, and from the aspect of inference, it is placed in the descriptive-correlation research group. 143 companies were selected as the statistical sample from the Tehran Stock Exchange in the period of 2013 to 2022 in order to collect information. In order to analyze the data of the research hypotheses, panel data regression and combined regression were used in Eviews10 software. Hypotheses analysis was performed using the Error Components Generalized Least Squares (EGLS) method. The results showed that the salience phenomenon has a positive and significant effect on the company's stock price. Therefore, the increase in prominence phenomenon leads to an increase in the company's stock price. Also, according to the results, it was found that the salience phenomenon has a positive and significant effect on the trading volume of the company's shares. Therefore, with the increase of salience phenomenon, the volume of the company's stock transactions increases.
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