نوع مقاله : مقاله پژوهشی (کاربردی)
نویسندگان
1 مربی گروه حسابداری ، دانشکده فاطمه ، دانشگاه فنی و حرفه‌ای استان اردبیل، ایران.
2 دانش آموخته حسابداری، گروه حسابداری، موسسه آموزش عالی مقدس اردبیلی، اردبیل، ایران
چکیده
کلیدواژه‌ها
موضوعات
عنوان مقاله [English]
نویسندگان [English]
Abstract :
Determining the speed of adjusting capital structure to long term leverage ratios is one of the empirical approaches to identifying a firm's financial flexibility. The potential link bet ween govern ment political support and the speed of capital structure adjustment is an important issue that has never been studied. Experimental studies provide insights into the determinants of corporate capital structure, largely based on US, European, and other developed countries. Have this gap is covered in this article and the political influence on adaptation speed is investigated. Using the Iranian political data , we analyze and empirically analyze. To investigate the effect of political affiliation on the rate of adjustment of capital structure, data of 120 companies listed in Tehran Stock Exchange between 2008 - 2017 were used by multivariate regression and combined data. The higher rate of adaptation of companies indicates that the company has been able to adapt faster to its leverage ratio and thus has greater financial flexibility. This facilitates firm level decision making, but the results of the hypothesis test show that political affiliation slows the pace of capital structure adjustment .
Keywords: political affiliation , Speed of Adjustment to Target Capital Structure, real leverage
کلیدواژه‌ها [English]
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