摘要： The importance of this study comes from the truth that financial statements' users need reliable, relevant, and useful financial information that should be reflected in stock prices. However, this study aims at investigating current ratio, receivables turnover, inventory turnover, and earnings per share for 18 companies listed on PEX over the period from 2006 to 2011. Regression analysis and econometric techniques of Unit root test, Co-integration, and Granger causality are applied. The study outcomes indicate that stock prices of companies listed on PEX are affected by working capital components. The results of traditional Granger Causality reveal that there is no causal relationship between stock prices and working capital components. In addition, there is a positive relationship between CR and EPS and stock prices whereas there is a negative relationship between RT and IT. The paper concludes that cash, times of receivables collection and inventory turnover are necessary to be taken into account by both investors and companies for improved the management of working capital at the PEX.
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