Effect of Profitability Indices on the Capital Structure of Listed Companies in Tehran Stock Exchange

Advances in Mathematical Finance and Applications

مقاله 1، دوره 2، شماره 3، آذر 2017، صفحه 1-11   

نوع مقاله: Research Paper

شناسه دیجیتال (DOI): 10.22034/amfa.2017.533085

نویسندگان

Hossien Karbasi Yazdi؛ Majid Mohammadian^*

Department of Management and Accounting, Islamic Azad University, South Tehran Branch, Tehran, Iran

چکیده

The main objective of this research is the index of profitability on the capital structure of listed companies on the Stock Exchange of Tehran. Statistical population consisted of all above companies that 138 companies were selected in time zone of 2011-2014 after screening method (systematic elimination). The research method is descriptive and correlation and study variable is profitability index that was tested by statistical techniques. Research findings indicate that there is a significant inverse relationship between indicators of profitability and capital structure. Also, there is a significant inverse relationship between short-term and long-term profitability and debts

کلیدواژه‌ها

Profitability indicator؛ Capital Structure؛ Assets ratio

مراجع

[1] Abrar Mohammad H., The relationship between sales and profitability and tangible assets on the capital structure Tehran Stock Exchange member firms, Master's thesis, School of Management, Islamic Azad University, Central Tehran Branch, 2010.

[2] Ahmadpur, H., Earnings management and the impact of company size, ownership structure and corporate governance, Journal of Accounting advances, 2010, 3(2), P. 1-35.

[3] Ahmadpur, A., Salimi, A., The effect on the capital structure and size of the industry (firms listed in the Tehran Stock Exchange), Journal of Social Sciences and Humanities Shiraz University, 2006, 1, P. 1-12.

[4]  Asadi, G., Shapur, M., Bai, E., The relationship between capital structure and ownership structure, Journal of Accounting, 2010, 4, P. 29-48.

[5] Arbabian, A., Safary, M., Effect of Capital Structure on the profitability of firms listed in the Tehran Stock Exchange, Landscape Management, 2008, 33, P. 175-159

[6] Mohammadi, A. Kazempour, M., Effects of Free Cash Flow and Capital Structure on different criteria to evaluate the performance of companies Pharma industry Tehran Stock Exchange, Journal of Accounting Health, 2015, 2(8), P. 1- 15.

[7]  Hosseini Montazeri, J., Determinants of the capital structure of listed companies in Tehran Stock Exchange Bhada with emphasis on product market competition, Studied accounting and auditing, 2013, 20 (30), P. 26-41.

[8]  Ansari, A., Yusefzadeh, N., Zare, Z., A review of the theories of capital structure, Studies of accounting and auditing, 2013, 7, P. 45-56.

[9]  Bagheri, S., Norouzi, M., Mendacity, F., Evaluation of tangible fixed assets and firm size on the structure of financial companies listed on the Tehran Stock Exchange, International Conference on Economics, Accounting, Management and Social Sciences, 2014.

[10] Baghumian, Rafik, Azizzadeh front, K., Relationship between Company and capital structure". Journal of Experimental studies, Financial accounting, 2014, 11(43), P. 111-133.

[11] Baghumian, R., Moqadam, H., A review of the theories of capital structure, Light Peak, 2009, 4, P. 23-45.

[12] Banimahd, F., and Ghanbarian, Z., The relationship between intellectual capital, company size, profitability and capital structure of listed companies in Tehran Stock Exchange, Journal of Financial Security Analysis, 2012, 11, P. 35-44.

[13] Poorzamani, Z., Jahanshad, A., N. Zare, P., and Farhoudi, A., Determinants of the capital structure of firms, Journal of financial accounting and auditing, 2011, 4, P. 26-46.

[14]  Saghafy, A., The behavior of earnings, Magazine study accounting and auditing, autumn, 1999, P. 1-12.

[15] Hajiha, V., and Hassan A., Factors Affecting the Company's debt maturity structure: An empirical examination of agency theory and the theory of leverage, Financial accounting, 2012, 33, P. 147-167.

[16] Hajiha, V., and Faizabad, F., The relationship between liquidity ratios and profitability and ability to pay obligations, Journal of Financial Accounting and Auditing, 2014, 19, P. 127-151.

[17] Hejazi, R., and Servant, S., The effect of economic factors and the characteristics of the company on the capital structure of listed companies in Tehran Stock Exchange, Journal of Financial Accounting, 2014, 2(16), P. 67-84.

[18] Khani, A., Afshari, H., Hosseini, K., and Myr, H., The financing decisions, market timing and actual investment in the Tehran Stock Exchange, Journal of asset management and financing, 2014, 1(1), P. 109-122.

[19] Khajooye, S., Hosseini, S.H., The relationship between the government and the political support-listed firm's capital structure at Tehran Stock Exchange, Journal of Accounting advances Tehran University, 2013, 1, P. 67-84.

[20] Michael, J., Gombola, A, Ho, Y-F., Huang, C-C., The effect of leverage and liquidity on earnings and capital management: Evidence from U.S. commercial banks, International Review of Economics and Finance, 2016, 43, P. 35-58.