عنوان مقاله [English]
One of the reasons that can effect on market index return is adoption of international policies. As investors enter stock exchange market to achieving benefit of distinguish promoting abilities, is necessary how swinging market index return before and after of policies adoption. In this paper we had collected index market return of data’s from 1395/04/23 till 1393/09/01 and the results reveal that usage of discontinuity regression method in short term index market return in day of agreement became negative, because of propensity of stockholders to market to gaining high profit. In performing day stockholders who had experience of agreement day, done so well and who were thinking of so high return, didn’t appear in market, to don’t see reduction of return in that day. In long term, usage of difference in differences model with elimination of sanction, trend of returns became better and had increasing if JCPOA didn’t happen.
Keywords: Tehran Stock Exchange, Return of Stock, Discontinuity Regression Method, Joint Comprehensive Plan