Relationship between Capital Structure and Economic Performance Separated by Ownership in Listed Companies in Tehran Stock Exchange
Publish place: International Journal of Management, Accounting and Economics (IJMAE)، Vol: 3، Issue: 2
Publish Year: 1394
نوع سند: مقاله ژورنالی
زبان: English
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شناسه ملی سند علمی:
JR_IJMAE-3-2_005
تاریخ نمایه سازی: 15 شهریور 1395
Abstract:
The main purpose of this research is to study the relationship between capital structure and firms’ economic performance separated by ownership. This study measures capital structure by company’s total liabilities and total assets; and economic performance and ownership structure are weighted by the two dimensions of institutional and corporate ownerships. Research used systematic elimination sampling method. Research statistical population included listed companies in Tehran Stock Exchange (414 companies) within 2009 to 2012. Sample volume determined as 88 companies. Research objectives are applied and it is considered as a correlation study. Research data collected through using stock exchange software. Further, collected data analyzed using SPSS software. The research used descriptive and inferential statistics (Spearman test). Results of research hypotheses show that economic performance in companies with institutional ownership is inversely related to capital structure; whereas, in non institutional economic ownership (corporate ownership) no correlation is seen with capital structure.
Authors
Mostafa Hosseinzadeh
Department of Accounting, Islamic Azad University, Boroujerd Branch, Boroujerd, Iran
Saeid Valadbeigi
Department of Accounting, Sama Technical and Vocational Training College, Islamic Azad University, Rudehen Branch, Rudehen, Iran
Amin Azizi
Department of Accounting, Islamic Azad University, Boroujerd Branch, Boroujerd, Iran
Sanam Bakhtiarnezhad
Department of Accounting, Sama Technical and Vocational Training College, Islamic Azad University, Damavand Branch, Damavand, Iran