Maral Barakchizadeh - Tehran, Iran

The present study investigates the relationship between working capital efficiency andworking capital policy with investment efficiency in companies listed on the Tehran StockExchange. The statistical population of the research consists of ۱۰۰ companies active in theTehran Stock Exchange. The relevant data have been extracted from the financial statementsavailable in the database of the Stock Exchange and Securities Organization. The extracteddata were entered into an Excel spreadsheet and then entered into Eviews software foranalysis. Due to the combined nature of the data, which consists of time and cross-sectionalseries, the statistical model of data panel regression or composite data was used, so that foreach time period and each index, a regression model was developed and then the estimatedcoefficients for each of the components of the research were determined. Findings showedthat the efficiency of working capital affects the investment efficiency of companies andworking capital policy also affects the investment efficiency of companies. There is also aninteractive effect between working capital efficiency and capital policy on the investmentefficiency of companies.

Working Capital Efficiency - Working Capital Policy - Investment Efficiency -Tehran Stock Exchange.