Title of article
The effects of return on investment, sales growth rate, volatility of investment, cash flow and structure of institutional shareholders on the ratio of debt to equities
Author/Authors
Golmohammadi، Jalal نويسنده Master Student, Department of Management and Accounting, South Tehran Branch, Islamic Azad University, Tehran, Iran , , Jafari، Mahboubeh نويسنده Faculty Member, Department of Management and Accounting, South Branch, Islamic Azad University, Tehran, Iran ,
Issue Information
ماهنامه با شماره پیاپی 48 سال 2015
Pages
6
From page
1041
To page
1046
Abstract
This paper presents a study to measure the effects of return on investment, sales growth rate, volatility investment, cash flow and structure of institutional shareholders on the ratio of debt to equities. The study selects 102 firms listed on Tehran Stock Exchange and, using regression technique with Panel data, examines five different hypotheses over the period 2008-2012. The results indicate that there was a negative and meaningful relationship between return of investment and the ratio of debt to equities and a positive and meaningful relationship between sales growth and the ratio of debt to equities. Moreover, there were positive and meaningful relationships between volatility of investment as well as cash flow and the ratio of debt to equities. Finally, the survey has indicated that there was a negative and meaningful relationship between the structure of institutional shareholders and the ratio of debt to equities.
Journal title
Management Science Letters
Serial Year
2015
Journal title
Management Science Letters
Record number
2313866
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