Free Cash Flow, Institutional Ownership and Long-Term Performance
Publish Year: 1398
نوع سند: مقاله ژورنالی
زبان: English
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شناسه ملی سند علمی:
JR_AMFA-4-2_003
تاریخ نمایه سازی: 7 مهر 1400
Abstract:
Performance appraisal is a process which help shareholders make informed and optimal investment decisions. In recent decades, a long stream of research has devoted particular attention to the importance and impact of financial decisions on firm performance and firm value. The present study thus is primarily concerned with investigating the association between free cash flow and institutional ownership and long-term performance of the firms listed on the Tehran Stock Exchange over the period of ۲۰۱۲-۲۰۱۶. Moreover, firm size, financial leverage and sale grows serve as the control variables of the research. A number of ۸۹ firms listed on the Tehran Stock Exchange were selected, and then the research hypotheses were tested using multivariate regression model based on panel data. The results reveal that firm long-term performance is not significantly correlated with free cash flow, yet it has a significant relationship with institutional ownership.
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Authors
Yasser Rezaei Pitenoei
Department of Accounting, University of Guilan, Rasht, Iran.
Mohammad Gholamrezapoor
Department of Accounting, University of Guilan, Rasht, Iran.
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