The Relationship between Asset Growth and Stock Returns In Different Size of Portfolios in Tehran Stock Exchange

In the present study, we tried to investigate the relationship between the investment effect and stock returns in Tehran Stock Exchange. The index information of 174 companies was collectedduring the period of 2009 to 2020. These 174 companies were divided into four very large, large, small and very smallportfolios. The results showed that there is no relationship between asset growth and stock returns in the Tehran Stock Exchange in very large and small companies. But in large and small companies, the main hypothesis of the research is confirmed. According to the results, there is no relationship between the investment rate on assets and stock returns in large, small and very small companies in Tehran Stock Exchange. Only in the very large companies the second hypothesis was approved. There is no relationship between investment growth and stock returns in the very large and small companies of the stock market. But in the case of large and small companies, there is a relationship between investment growth and stock returns.