چکیده:
The financial restrictions are restrictions that prevented provide all the funds
needed for favorable investment in the company. Return on equity is an
important role in enabling managers to invest in the future. The main purpose
of this study is investigating the Relationship between Financial Restrictions
with Stock Returns and Risk (volatility returns), in Corporations of Accepted
in Tehran Stock Exchange. Statistical Population is consisted of 322 year –
company in during of time 2009 – 2015. By Using multivariate regression
techniques with panel data and hypotheses were analyzed with the Eviews 8
software, the results indicate a significant and negative relationship between
financial constraints and risk (volatility returns), and the absence of a
significant relationship between financial and stock returns is limited. Other
results showed that there is a positive and significant relationship between the
company size and financial leverage and risk (returns volatility).
خلاصه ماشینی:
Investigating the Relationship between Financial Restrictions and Stock Returns and Risk in Corporations of Accepted in Tehran Stock Exchange Samiran Khajehzadeh 1, Hossein Jabbary 2*, Mehdi Madanchi Zaj 3 1,3Department of Financial Management, Electronic Branch, Islamic Azad University, Tehran, Iran 2Assistant Professor of Accounting Department, Kashan Branch, Islamic Azad University, Kashan, Iran Original Article: Received 10 March.
By Using multivariate regression techniques with panel data and hypotheses were analyzed with the Eviews 8 software, the results indicate a significant and negative relationship between financial constraints and risk (volatility returns), and the absence of a significant relationship between financial and stock returns is limited.
Other results showed that there is a positive and significant relationship between the company size and financial leverage and risk (returns volatility).
Keyword: FinancialRestrictions, Risk (volatility returns), Stock Returns, Company size, financial leverage * Corresponding author: Dr. Hossein Jabbary Peer review under responsibility of UCT Journal of Management and Accounting Studies INTRODUCTION World’s valid exchanges have shown that supply and raise capital has succeeded and the confidence of investors to capital markets and market efficiency, so that they know are not wasted capital and bring reasonable profits.
They conducted a study using data from 14 countries and concluded that better corporate governance; internal cash flow will reduce the company's dependence and reduce financial constraints.
Sadeghi (2012) in their study examine investments capital assets and their internal and external financial constraints in Corporations of Accepted in Tehran Stock Exchange.