تأثیر بحران مالی جهانی بر اهرم مالی شرکت‌های پذیرفته شده در بورس اوراق بهادار تهران

نوع مقاله: مقاله پژوهشی

نویسندگان

1 دانشیار دانشکده اقتصاد دانشگاه رازی کرمانشاه

2 دانشجوی دکترای حسابداری، دانشگاه اصفهان

3 مدرس حسابداری دانشگاه رازی و حسابرس مالیاتی اداره کل امور مالیاتی استان کرمانشاه

چکیده

اقتصاد جهان هر از چند گاهی با بحران مواجه می شود. در سال‌های اخیر، بحران مالی سراسری˓ اقتصاد جهان را تحت تأثیر قرار داده و تمامی کشورها را، مستقیم و غیر مستقیم، درگیر کرده است. هدف این پژوهش، مطالعه تأثیر بحران مالی جهانی بر اهرم مالی شرکت‌های پذیرفته شده در بورس اوراق بهادار تهران است. برای آزمون این اثرات، تعداد 87 شرکت پذیرفته شده در بورس اوراق بهادار تهران، در طی دوره زمانی 1385 الی 1390، مورد مطالعه قرار گرفتند. در این پژوهش، از متغیرهای سود قبل از بهره و مالیات، هزینه استهلاک، دارایی‌ها، مخارج تحقیق و توسعه و متغیر دامی بحران مالی جهانی به عنوان متغیرهای مستقل و از متغیرهای نسبت دفتری بدهی و نسبت بازار بدهی، به عنوان متغیرهای وابسته (اهرم های مالی) استفاده شده است. نتایج پژوهش حاکی از تأثیر معنادار بحران مالی جهانی بر نسبت بازار بدهی شرکت‌های پذیرفته شده در بورس اوراق بهادر تهران می‌باشد. اما معناداری این رابطه، برای نسبت دفتری بدهی، مورد تأیید قرار نگرفت.

کلیدواژه‌ها

موضوعات


عنوان مقاله [English]

Study on the Impact of Financial Crisis on the Financial Leverage of Listed Companies in Tehran Stock Exchange

نویسندگان [English]

  • Qumars Soheily 1
  • Samaneh Bari 2
  • Isaac Behshoor 3
1 Associate Professor of the Faculty of Economics, Razi University of Kermanshah
2 Ph.D. student of accounting, Isfahan University
3 Razi University Accounting Accountant and Tax Accountant of Kermanshah Province Tax Administration
چکیده [English]

The global economy faces financial crisis every so often. In recent years, the financial crisis has affected the global economy and all countries are involved in, diirectly or indirectly. The purpose of this research is to study the impact of the global economic crisis on the financial leverage of listed companies in Tehran Stock Exchange. To test this effect, 87 companies listed in Tehran Stock Exchange are studied during the period 1385 to 1390. In this study are used earnings before interest and tax, depreciation expense, assets, research and development expenses and the dummy variable, global economic crisis as the independent variables. The book debt ratios and the market debt ratios are used as dependent variables (the financial leverage). The results suggest a significant relationship between the global economic crisis and the market debt ratios. But no significant relationship is found between the global economic crisis and the book debt ratios.

کلیدواژه‌ها [English]

  • Economic crisis
  • Financial Leverage
  • Market debt ratios
  • Book debt ratios
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