بررسي رابطه اهرم مالي و ارزش افزوده بازار شركت هاي پذيرفته شده در بورس اوراق بهادار تهران

Survey the Relationship between Financial Leverage and Market Value Added in Tehran Stock Exchange

The firmsʹ capital structure plays an important role in investment decision making and therefore in firms performance. The effect of capital structure on firms performance measurements have studied in previous studies. The aim of this study is survey the relationship between capital structure and Market Value Added in Tehran Stock Exchange. Therefore 189 sample firms that their required data for a twelve years period (1375-1386) was available are selected. The panel data regression is used to examine the hypotheses. Signification of the models is examined by t and F statistics. The conclusions indicate that changes in capital structure explain 49 percent of changes in firmsʹ performance.