بررسی نقش تأثیر استراتژی تجارت بر سیاست‌های نقدی شرکت‌های پذیرفته شده در بورس اوراق بهادار تهران

نوع مقاله : مقاله پژوهشی (کاربردی)

نویسندگان

1 عضو هیئت علمی، گروه حسابداری، دانشگاه فنی و حرفه ای، تهران، ایران.

2 کارشناسی ارشد، گروه حسابداری، دانشگاه آزاد اسلامی واحد مشهد، مشهد، ایران.

10.48301/kssa.2021.277657.1436

چکیده

اهمیت وجوه نقد در یک واحد تجاری از اساسی­ترین رویدادهایی است که اندازه­گیری حسابداری بر اساس آنها انجام می­شود. به طور معمول، مدیران به دنبال سطحی از موجودی­های نقدی هستند که با توجه به مزایا و معایب نگهداری موجودی­های نقدی حالت بهینه داشته باشد. از این‌رو، مدیران بایستی در صدد دست‌یابی به سطحی بهینه از نگهداشت وجه نقد باشند. بر همین مبنا چگونگی سرعت دست‌یابی به وجه نقد بهینه موضوع مهمی در ادبیات مالی است. لذا هدف این پژوهش بررسی تأثیر استراتژی تجارت بر سیاست‌های نقدی شرکت است. به همین منظور نمونه‌ای متشکل از 168 شرکت از بین شرکت­های پذیرفته شده در بورس اوراق بهادار تهران طی سال­های 1394 تا 1398 انتخاب گردیده است. جهت آزمون فرضیه‌های پژوهش از مدل رگرسیونی چند متغیره مبتنی بر داده‌های ترکیبی به روش داده‌های تابلویی استفاده شده است. نتایج حاصل از  تجزیه و تحلیل فرضیه‌های پژوهش نشان داد که بین استراتژی تهاجمی و نگهداشت وجه نقد رابطه مثبت و معناداری وجود دارد؛ در حالی‌که بین استراتژی تهاجمی و سرعت تعدیل نگهداشت وجه نقد رابطه‌ی منفی و معناداری وجود دارد. همچنین، بین استراتژی تدافعی و نگهداشت وجه نقد رابطه‌ی منفی و معناداری وجود دارد ولی بین استراتژی تدافعی و سرعت تعدیل نگهداشت وجه نقد رابطه‌ی مثبت و معناداری برقرار است.

کلیدواژه‌ها

موضوعات

عنوان مقاله [English]

Investigating the Role of the Impact of Business Strategy on the Cash Policies of Companies Listed on the Tehran Stock Exchange

نویسندگان [English]

  • Ehsan Ghadrdan 1
  • Akbar Hoseini Sarcheshmeh 2
1 Faculty Member, Department of Accounting, Technical and Vocational University(TVU), Tehran, Iran.
2 M. Sc, Department of Accounting, Islamic Azad University Mashhad Branch, Mashhad, Iran.
چکیده [English]

The importance of cash in a business unit is one of the most fundamental events on which accounting measurements are based. Managers usually search for a level of cash that is optimized taking into consideration the advantages and disadvantages of maintaining cash. Managers strive to achieve an optimal level of cash retention. Accordingly, how quickly optimal cash is achieved is an important issue in financial research literature. Therefore, the purpose of this study was to investigate the effect of business strategy on company cash policies. For this purpose, a sample consisting of 168 companies were selected from the companies listed on the Tehran Stock Exchange during the years 2015 to 2019. To test the research hypotheses, a multivariate regression model based on composite data using panel data method was used. The results of the analysis of research hypotheses showed that there was a positive and significant relationship between offensive strategy and cash retention while there was a negative and significant relationship between offensive strategy and the speed of cash adjustment. In addition, there was a negative and significant relationship between defensive strategy and cash retention, but there was a positive and significant relationship between defensive strategy and the speed of adjustment of cash retention.

کلیدواژه‌ها [English]

  • Offensive strategy
  • Defensive strategy
  • Cash retention
  • Cash retention adjustment speed

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فصلنامه علمی کارافن
دوره 19، شماره 2 - شماره پیاپی 58
علوم انسانی
شهریور 1401
صفحه 455-473

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  • تاریخ دریافت: 08 اردیبهشت 1400
  • تاریخ بازنگری: 17 خرداد 1400
  • تاریخ پذیرش: 10 شهریور 1400

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