The effect of macro-economic variables on the profitability of tehran stock exchange companies

Market security and consequently, the profitability of the companies are affected by several economic, political and social factors. Thus it is vitally important for the investors and managers’ decision makings to know such factors and their effects on the profitability of the companies in order to come to a deeper and analysis and more efficient usage of the resources. The main objective of this research is to study the effective macro-economic variables on the profitability of Tehran Stock Exchange companies. To do this, relying on E-Views software we have tested our hypotheses using classical regression analysis in which the economic effective factors of the inflation, currency rates, oil price, and gross domestic product (GDP) have been considered as the independent variables whose effect have been studied on the operational profit of the companies as the dependent variable.