Abbasali Poraghajan - Ph.D Assistant professor of Department of Accounting, Ghaemshar Branch, Islamic Azad University
Seyede Narges Mirsadeghi darabi - Department of Accounting, Sari Branch, Islamic Azad University, Sari, Iran

Possible problems related to debt and insufficient investment to leverage stakeholder reaction, the negative effect of leverage on the day's performance. While a number of studies have claimed that leverages the opportunities for hunting competition in product markets provides centralized, so the effect on the function of leverage, provided the degree of competition in product markets. News that the evidence there of leverage and product market competition (Fosu, 2013). In this context, explaining the relationships debt, competitiveness and performance, this study was conducted, the research hypotheses based on data gathered from 155 companies listed on Tehran Stock Exchange during the years 1388 to 1392 and tested using regression analysis it placed. Coefficients based on the fitted regression equation significance test results, according to the first hypothesis suggests that direct and significant relationship between capital structure and performance of the company is established. Results for the second model using panel data and generalized least squares method estimates show that the correlation between the product of the variable capital structure and product market competition and performance are not established. Thus, the second hypothesis that the benefits of leverage represented by product market competition, significant relationship , could not be confirmed and the competition in the industry, the relationship between capital structure and performance efficiency

financial leverage//leverage the benefits of representation/competition in the industry/