بررسي رابطه اهرم مالي و نقدشوندگي دارايي ها در بورس اوراق بهادار تهران

A Survey on the Relationship between Financial Leverage and Assets Liquidity in Tehran Stock Exchange

The firmsʹ Financial Leverage plays an important role in investment decision making. The effect of profitability (ROA), firm size, market to book value of equity, tangible fixed assets and assets liquidity (Cash/Total Assets) on Financial Leverage have been studied in this paper. For this purpose, 154 sample firms that their required data for a ten years period (1376 -1385) was available are selected. The regression Analyses is used to test the research hypotheses. The findings indicate that independent variables explain more than 65 percent changes in financial leverage. ROA and Size have negative and significant relationship with Financial Leverage. Other variables have no significant relationship with Financial Leverage.