چکیده:
In general, in financing, companies affiliated with the business group have more benefits than other companies because these companies have more access to financial resources and the domestic capital markets also support them. Factors related to financing in Tehran Stock Exchange companies have been discussed. In this research, 118 companies listed on the Tehran Stock Exchange in the period 1397-1392 have been studied. To test the hypotheses, panel regression and difference test models were used. The research findings show that companies affiliated to the business group have a higher leverage ratio than independent companies. Have higher financing costs than independent companies. Finally, companies affiliated with business groups have different leverage ratios, financing constraints, and financing costs than other companies.
خلاصه ماشینی:
ir Amir Hadi Ali Hakim PhD student, Department of Accounting, Urmia Branch, Islamic Azad University, Urmia, Iran Hadi Karamad Sani PhD student, Department of Accounting, Urmia Branch, Islamic Azad University, Urmia, Iran Nasim Lotfi PhD student, Department of Accounting, Urmia Branch, Islamic Azad University, Urmia, Iran Abstract In general, in financing, companies affiliated with business groups have more benefits compared to other companies because these companies have greater access to financial resources and domestic capital markets also support them.
Based on this, this research investigates the impact of business group affiliation on factors related to financing in companies listed on the Tehran Stock Exchange.
Because these companies have greater access to financial resources, this research seeks to investigate how business group affiliation affects factors related to financing.
998 X5 X1 working capital to total assets ratio X2 retained earnings to total assets ratio X3 earnings before interest and taxes to total assets ratio X4 book value of company equity to book value of total liabilities ratio X5 sales to total assets ratio 93 Therefore, based on the above model, we classify the companies for year - as follows: Table (2): Financial crisis probability table (Refer to page image) 6- Research findings A - Descriptive study of data: In order to analyze and decompose the information, first descriptive statistics of the data, including central indices, dispersion indices, deviation from symmetry, and also the normality test, were calculated and are presented in Tables (3) and (4).
Based on this, this research has addressed the impact of business group affiliation on factors related to financing in companies listed on the Tehran Stock Exchange.
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