Investigation of the Effect of Internal Factors on the Tobin’s Q Ratio and Value of the Companies Accepted in Tehran Stock Exchange
Publish place: International Journal of Management, Accounting and Economics (IJMAE)، Vol: 7، Issue: 12
Publish Year: 1399
نوع سند: مقاله ژورنالی
زبان: English
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شناسه ملی سند علمی:
JR_IJMAE-7-12_004
تاریخ نمایه سازی: 13 مهر 1402
Abstract:
The aim of this study was to investigate the effect of internal factors of the company on the Tobin's Q ration and the value of companies admitted in Tehran Securities Exchange Stock Exchange with the approach of structural equation modeling. In this study the effect of corporate governance, capital structure and profit sharing policy as internal variables on corporate value was investigated. This research is practical in terms of goal. Statistical population of the present study is the companies accepted in the Tehran Stock Exchange between ۲۰۱۲ to ۲۰۱۶. Among them, ۱۶۱ companies were selected as sample through systematic elimination. After finding to fit the acceptable model of measurement and structure of the research, the results showed that internal variables have a positive effect on the Tobin's Q ratio. Among the internal variables, the return-sharing policy has the most impact on the Tobin's Q ratio. The Tobin's Q ratio can mediate the relationship between local variables and the corporate value.
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Authors
Ali Najafi Moghadam
Department of Economics and Management, Islamic Azad University, South Tehran Branch, Tehran, Iran
Masoumeh Nejad Mohammadi Alarelough
Department of Economics and Management, Islamic Azad University, South Tehran Branch, Tehran, Iran
Abdulaziz Salem Nejad
Department of Economics and Management, Islamic Azad University, South Tehran Branch, Tehran, Iran
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