امیر حسین تائبی نقندری - Department of Accounting, Kerman Branch, Islamic Azad University, Kerman, Iran
علی تائبی نقندری - Department of Accounting, Kerman Branch, Islamic Azad University, Kerman, Iran

The purpose of this paper is examining the impact of financial leverage as a mediation variable on the relationship between ownership concentration and financial corporate performance. To test the hypotheses, multiple regression analysis is used. The statistical population of this research is all listed companies in Tehran Stock Exchange. However, data were available only for ۶۰ companies during the period of ۲۰۰۴-۲۰۱۵. The research results show that the ownership structure negatively affects the financial corporate performance. Moreover, the financial leverage explains the relationship between the ownership concentration and financial corporate performance. It is recommended to the investors and other users of financial statements to increase the quality of their portfolio decisions, by taking into account the hidden impact of financial leverage on the relationship of ownership concentration and the companies’ performance, in addition to the direct impact of ownership concentration on the companies’ performance.

Financial Leverage, market performance, mediation effect, ownership concentration