Effects of Product Market Competition on Financing Cost

This paper aims to investigate the relationship between product market competition and financing costs of the firms listed in the Tehran Stock Exchange. This proceeded with control effects of firm size, and also, financial leverage of firms. In addition, Herfindahl Hirschman Index (HHI), firms’ conc...

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Autores principales:	Mohammad Hossein Setayesh, Alireza Momtazian, Maryam Zare, Javad Hayati
Formato:	article
Lenguaje:	FA
Publicado:	Shahid Bahonar University of Kerman 2016
Materias:	product market competition financing costs tehran stock exchange Accounting. Bookkeeping HF5601-5689
Acceso en línea:	https://doaj.org/article/4658f86026ba41fa8cf048a5337e5ed1
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id	oai:doaj.org-article:4658f86026ba41fa8cf048a5337e5ed1
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spelling	oai:doaj.org-article:4658f86026ba41fa8cf048a5337e5ed12021-11-04T19:49:24ZEffects of Product Market Competition on Financing Cost2008-89142476-292X10.22103/jak.2016.1425https://doaj.org/article/4658f86026ba41fa8cf048a5337e5ed12016-02-01T00:00:00Zhttps://jak.uk.ac.ir/article_1425_ba798edf6dcfe772e0194fc8d4943e56.pdfhttps://doaj.org/toc/2008-8914https://doaj.org/toc/2476-292XThis paper aims to investigate the relationship between product market competition and financing costs of the firms listed in the Tehran Stock Exchange. This proceeded with control effects of firm size, and also, financial leverage of firms. In addition, Herfindahl Hirschman Index (HHI), firms’ concentration ratios, and Lerner and adjusted Lerner index, were used as competition measures in product market. The statistical population constitutes of the firms listed in the Tehran Stock Exchange, in the years 1382-1390. Multivariable linear regression analysis was used to test the study hypotheses. The results indicated that, in overall, there were significant relationship between product market competition indices and cost of common stock capital, and between competition indices and cost of debt as the criterion of financing costs. Therefore, it was recommended that the firms, by designing and applying intelligent strategies and target-oriented financing cost decisions, make their position secure in the market and increase their market share.Mohammad Hossein SetayeshAlireza MomtazianMaryam ZareJavad HayatiShahid Bahonar University of Kermanarticleproduct market competitionfinancing coststehran stock exchangeAccounting. BookkeepingHF5601-5689FAمجله دانش حسابداری, Vol 6, Iss 23, Pp 7-32 (2016)
institution	DOAJ
collection	DOAJ
language	FA
topic	product market competition financing costs tehran stock exchange Accounting. Bookkeeping HF5601-5689
spellingShingle	product market competition financing costs tehran stock exchange Accounting. Bookkeeping HF5601-5689 Mohammad Hossein Setayesh Alireza Momtazian Maryam Zare Javad Hayati Effects of Product Market Competition on Financing Cost
description	This paper aims to investigate the relationship between product market competition and financing costs of the firms listed in the Tehran Stock Exchange. This proceeded with control effects of firm size, and also, financial leverage of firms. In addition, Herfindahl Hirschman Index (HHI), firms’ concentration ratios, and Lerner and adjusted Lerner index, were used as competition measures in product market. The statistical population constitutes of the firms listed in the Tehran Stock Exchange, in the years 1382-1390. Multivariable linear regression analysis was used to test the study hypotheses. The results indicated that, in overall, there were significant relationship between product market competition indices and cost of common stock capital, and between competition indices and cost of debt as the criterion of financing costs. Therefore, it was recommended that the firms, by designing and applying intelligent strategies and target-oriented financing cost decisions, make their position secure in the market and increase their market share.
format	article
author	Mohammad Hossein Setayesh Alireza Momtazian Maryam Zare Javad Hayati
author_facet	Mohammad Hossein Setayesh Alireza Momtazian Maryam Zare Javad Hayati
author_sort	Mohammad Hossein Setayesh
title	Effects of Product Market Competition on Financing Cost
title_short	Effects of Product Market Competition on Financing Cost
title_full	Effects of Product Market Competition on Financing Cost
title_fullStr	Effects of Product Market Competition on Financing Cost
title_full_unstemmed	Effects of Product Market Competition on Financing Cost
title_sort	effects of product market competition on financing cost
publisher	Shahid Bahonar University of Kerman
publishDate	2016
url	https://doaj.org/article/4658f86026ba41fa8cf048a5337e5ed1
work_keys_str_mv	AT mohammadhosseinsetayesh effectsofproductmarketcompetitiononfinancingcost AT alirezamomtazian effectsofproductmarketcompetitiononfinancingcost AT maryamzare effectsofproductmarketcompetitiononfinancingcost AT javadhayati effectsofproductmarketcompetitiononfinancingcost
_version_	1718444587796660224

Effects of Product Market Competition on Financing Cost

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