Investigating the Impacts of Concentration on Customer upon Capital Structure and Debt Maturity

Objective: This research investigates the impacts of concentration on customer upon capital structure and debt maturity in the companies listed in the Tehran Stock Exchange, TSE. Method: To test the hypotheses of the research, multiple linear regression model has been used. To measure capital struct...

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Autores principales:	Mohammad Reza Nikbakht (Ph.D), Masoumeh Sabermahani, Mostafa Deldar
Formato:	article
Lenguaje:	FA
Publicado:	Shahid Bahonar University of Kerman 2019
Materias:	customer concentration capital structure debt maturity structure Accounting. Bookkeeping HF5601-5689
Acceso en línea:	https://doaj.org/article/958236d657d04b6189e133493b42d4a3
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spelling	oai:doaj.org-article:958236d657d04b6189e133493b42d4a32021-11-04T19:54:34ZInvestigating the Impacts of Concentration on Customer upon Capital Structure and Debt Maturity2008-89142476-292X10.22103/jak.2019.11212.2537https://doaj.org/article/958236d657d04b6189e133493b42d4a32019-05-01T00:00:00Zhttps://jak.uk.ac.ir/article_2263_5c95f57827e537dcccc02031e24ed41d.pdfhttps://doaj.org/toc/2008-8914https://doaj.org/toc/2476-292XObjective: This research investigates the impacts of concentration on customer upon capital structure and debt maturity in the companies listed in the Tehran Stock Exchange, TSE. Method: To test the hypotheses of the research, multiple linear regression model has been used. To measure capital structure and debt maturity structure, we used financial leverage and long-term debt ratio, respectively, and to determine concentration on customer, we examined the three variables of the ratio of major sales (sales above 10 percent) to total sales, the Herfindahl-Hirschman Inex, and the dummy variable of existence or lack of major customer. The sample includes 140 companies in the TSE in the years 2011-2016, regarding the constraints of this study. Results: The evidence showed that there is a significant positive relationship between concentration on customer and capital structure. In other words, in the companies with major customers, the rate of financial leverage (debt) is higher the others. Also, in these companies the debt maturity structure is longer. Conclusion: The results imply the importance and effectiveness of company's major customers in increasing the capital structure (financial leverage) and the debt maturity structure.Mohammad Reza Nikbakht (Ph.D)Masoumeh SabermahaniMostafa DeldarShahid Bahonar University of Kermanarticlecustomer concentrationcapital structuredebt maturity structureAccounting. BookkeepingHF5601-5689FAمجله دانش حسابداری, Vol 10, Iss 1, Pp 39-65 (2019)
institution	DOAJ
collection	DOAJ
language	FA
topic	customer concentration capital structure debt maturity structure Accounting. Bookkeeping HF5601-5689
spellingShingle	customer concentration capital structure debt maturity structure Accounting. Bookkeeping HF5601-5689 Mohammad Reza Nikbakht (Ph.D) Masoumeh Sabermahani Mostafa Deldar Investigating the Impacts of Concentration on Customer upon Capital Structure and Debt Maturity
description	Objective: This research investigates the impacts of concentration on customer upon capital structure and debt maturity in the companies listed in the Tehran Stock Exchange, TSE. Method: To test the hypotheses of the research, multiple linear regression model has been used. To measure capital structure and debt maturity structure, we used financial leverage and long-term debt ratio, respectively, and to determine concentration on customer, we examined the three variables of the ratio of major sales (sales above 10 percent) to total sales, the Herfindahl-Hirschman Inex, and the dummy variable of existence or lack of major customer. The sample includes 140 companies in the TSE in the years 2011-2016, regarding the constraints of this study. Results: The evidence showed that there is a significant positive relationship between concentration on customer and capital structure. In other words, in the companies with major customers, the rate of financial leverage (debt) is higher the others. Also, in these companies the debt maturity structure is longer. Conclusion: The results imply the importance and effectiveness of company's major customers in increasing the capital structure (financial leverage) and the debt maturity structure.
format	article
author	Mohammad Reza Nikbakht (Ph.D) Masoumeh Sabermahani Mostafa Deldar
author_facet	Mohammad Reza Nikbakht (Ph.D) Masoumeh Sabermahani Mostafa Deldar
author_sort	Mohammad Reza Nikbakht (Ph.D)
title	Investigating the Impacts of Concentration on Customer upon Capital Structure and Debt Maturity
title_short	Investigating the Impacts of Concentration on Customer upon Capital Structure and Debt Maturity
title_full	Investigating the Impacts of Concentration on Customer upon Capital Structure and Debt Maturity
title_fullStr	Investigating the Impacts of Concentration on Customer upon Capital Structure and Debt Maturity
title_full_unstemmed	Investigating the Impacts of Concentration on Customer upon Capital Structure and Debt Maturity
title_sort	investigating the impacts of concentration on customer upon capital structure and debt maturity
publisher	Shahid Bahonar University of Kerman
publishDate	2019
url	https://doaj.org/article/958236d657d04b6189e133493b42d4a3
work_keys_str_mv	AT mohammadrezanikbakhtphd investigatingtheimpactsofconcentrationoncustomeruponcapitalstructureanddebtmaturity AT masoumehsabermahani investigatingtheimpactsofconcentrationoncustomeruponcapitalstructureanddebtmaturity AT mostafadeldar investigatingtheimpactsofconcentrationoncustomeruponcapitalstructureanddebtmaturity
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Investigating the Impacts of Concentration on Customer upon Capital Structure and Debt Maturity

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