Institutional Ownership of Banks and cost of debt, in Tehran Stock Exchange Listed Firms

Abstract This paper categorizes institutional investors in two category as a theoretical view. First, investors which have a business relationship with the companies in which they hold shares and second vice versa. Banks are existing in second category. The aim of this study is to determine the effect of institutional ownership of banks on the cost of debt in the firms accepted in Tehran Stock exchange. To test the hypotheses of the study ۱۴۰ accepted firms during the period ۲۰۰۶ to ۲۰۱۳ considered as the sample. The generalized least squares (GLS) method and the correlation method have been used with regression analysis. Hypothesis testing with multiple regression analysis is performed using longitudinal panel data. The result shows the existence of a positive relation between institutional ownership of bank and the cost of debt.

Keywords:

Institutional Ownership , Bank , cost of debt. , مالکیت نهادی , بانک , هزینه بدهی.