Methods of improving the efficiency of public companies’ shares from the portfolio financing

Decision making about capital structure is one of the most challenging and difficult issues facing companies and also the most vital decision about their survival. Capital structure of a company is the Combination of debt and shareholders’ equity. In the present study the relationship between capital structure and accounting measures of performance evaluation (ROA, ROE, FCF, CFOA, OIBDA) and stock returns for firms listed on the Stock Exchange during the years 2007 to 2011 were studied. Due to limitations, 60 companies were selected as sample. The data were collected using the library studies and Rahavard Novin software and by calculating 4 capital structure ratio and 5 accounting performance evaluation criteria, research hypotheses were addressed. In order to test the hypotheses, multiple regressions were used and to determine the significance of coefficients and model at 95% F and t statistics were used. Finally, it was determined that there is a significant relationship between the ratios of capital structure and accounting measures of performance measurement and stock returns. The relationship between changes in financing and operational performance in the previous period (after) of financing is meaningless.