Investigating the effects of financial constraints and product market competition on repurchase of shares in Iranian capital market member companies
Publish place: 5Th International Conference on Science and Technology of the Third Millennium of Iran's Economy, Management and Accounting
Publish Year: 1400
Type: Conference paper
Language: English
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Document National Code:
TCCONF05_089
Index date: 27 April 2022
Investigating the effects of financial constraints and product market competition on repurchase of shares in Iranian capital market member companies abstract
This study examines the importance of financial constraints and competition in the product market of the decision to repurchase shares in the period 2011-2012 in the Iranian financial markets. This research has been examined in a statistical sample of 120 companies. We have found that firms with financial constraints are more likely to repurchase shares with debt financing; however, firms without financial constraints are more likely to make redemption purchases with debt financing only when debt market conditions are favorable. We also found that the level of industry competition is an important factor in managers' decisions. Highly competitive companies, therefore, pay their extra cash through redemption of shares, which is stronger in times of financial crisis
Investigating the effects of financial constraints and product market competition on repurchase of shares in Iranian capital market member companies Keywords:
Investigating the effects of financial constraints and product market competition on repurchase of shares in Iranian capital market member companies authors
Rezvan Pourmansouri
Master of Business Administration - Financial Orientation
Roohollah Ghasemi
Master student of accounting, Razi University of Kermanshah