چکیده:
Assess the true value of companies is one of the most important things about the
accuracy of their shareholders. Traditional assessments of performance, mainly
from the financial statements based on accounting principles that are working
previously accepted.Economic Value Added is a new way of evaluating
performance which in recent years has been a lot of attention as effective as a
method of measuring corporate value and shareholder interests is reflected.
However, the value added of different companies with different earnings even if
they are similar. On the other hand, based on the life cycle hypothesis stages of life,
including birth, infancy, growth, maturity and decline.Thus, it can be argued that
the decisions of external financing (debt - equity) will be affected by a critical stage
in which the company. The aim of this study was to investigate the association
between firms' capital structure with EVA considering the period of life that is in
the period 2008-2013 and for 1452 year is now. To test the hypothesis of
multivariate regression analysis using panel data. The results indicate the existence
of external financing priority on growth, maturity and decline stage is the absence
of this priority. The results show that the size of the organization's funding priorities
in the maturing process and to participate effectively in the decline stage is
ineffective.
خلاصه ماشینی:
The relationship between the proportion of long-term debt to total assets and economic value throughout the life of the company Sedigheh Karimi Zarchi1&2, Mohammad Ali Dehestani3 and Alireza Farimani4 1department of Accounting, Tabas science and research branch, Islamic Azad University, Yazd, Iran.
Keyword: The ratio of short-term debt capital structuredecline stage external financing panel data * Corresponding author: Mohammad Ali Dehestani Peer review under responsibility of UCT Journal of Management and Accounting Studies INTRODUCTION Assess the true value of companies is one of the most important things about the accuracy of their shareholders.
Haghighat and Bashiri2012 In a study titled, Effects of financial flexibility through the stages of the life cycle of birth, growth and maturity on the capital structure of listed companies in Tehran Stock Exchange during the years 1999 to 2007 paid.
According to the results of the second hypothesis regarding the relationship between the ratio of long term debt to total assets of economic value added for companies that are in a growth period, In less than 5% error level is confirmed.
According to the results of the second hypothesis regarding the relationship between the ratio of long term debt to total assets and economic value for companies that are in a growth period.
According to the results of the second hypothesis regarding the relationship between economic added value of long term debt to total assets for companies that are in a period of decline in less than 5% error level cannot be verified.