Firm’s Life Cycle, Capital Structure and Value of Firms Listed in Tehran Stock Exchange (TSE)

Today, since markets are highly competitive, optimal arrangement of recourses seems important to preserve firm’s position and growth. This is so vital and unavoidable that capital structure of firms may directly affect firms’ value. To maximize utility, firms choose different economic policies durin...

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Autores principales:	Kaveh Mehrani, Arash Tahriri, Soran Farhadi
Formato:	article
Lenguaje:	FA
Publicado:	Shahid Bahonar University of Kerman 2014
Materias:	: capital structure pecking order theory firm value firm life cycle Accounting. Bookkeeping HF5601-5689
Acceso en línea:	https://doaj.org/article/f014ac25c94a4a9399aee8bddeea069b
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spelling	oai:doaj.org-article:f014ac25c94a4a9399aee8bddeea069b2021-11-04T19:47:06ZFirm’s Life Cycle, Capital Structure and Value of Firms Listed in Tehran Stock Exchange (TSE)2008-89142476-292X10.22103/jak.2014.729https://doaj.org/article/f014ac25c94a4a9399aee8bddeea069b2014-09-01T00:00:00Zhttps://jak.uk.ac.ir/article_729_e3667a8fdda24f3c1d8436c841b37d4b.pdfhttps://doaj.org/toc/2008-8914https://doaj.org/toc/2476-292XToday, since markets are highly competitive, optimal arrangement of recourses seems important to preserve firm’s position and growth. This is so vital and unavoidable that capital structure of firms may directly affect firms’ value. To maximize utility, firms choose different economic policies during their life cycle. This research aims to answer the question that if life cycle can affect the relationship between capital structure and firm’s value, or not. The answer to the question could be of empirical issue. The period of the study is 1384 to 1389, and data takes 480 year/firm records. The results from statistical tests show that firm’s life cycle affects the relationship between capital structure and firm value, and that the effect is more considerable for growing firms than matured ones. In other words, the explanatory power of statistical study for the model viewed for the growing firms is more than that for the matured firmsKaveh MehraniArash TahririSoran FarhadiShahid Bahonar University of Kermanarticle: capital structurepecking order theoryfirm valuefirm life cycleAccounting. BookkeepingHF5601-5689FAمجله دانش حسابداری, Vol 5, Iss 17, Pp 163-180 (2014)
institution	DOAJ
collection	DOAJ
language	FA
topic	: capital structure pecking order theory firm value firm life cycle Accounting. Bookkeeping HF5601-5689
spellingShingle	: capital structure pecking order theory firm value firm life cycle Accounting. Bookkeeping HF5601-5689 Kaveh Mehrani Arash Tahriri Soran Farhadi Firm’s Life Cycle, Capital Structure and Value of Firms Listed in Tehran Stock Exchange (TSE)
description	Today, since markets are highly competitive, optimal arrangement of recourses seems important to preserve firm’s position and growth. This is so vital and unavoidable that capital structure of firms may directly affect firms’ value. To maximize utility, firms choose different economic policies during their life cycle. This research aims to answer the question that if life cycle can affect the relationship between capital structure and firm’s value, or not. The answer to the question could be of empirical issue. The period of the study is 1384 to 1389, and data takes 480 year/firm records. The results from statistical tests show that firm’s life cycle affects the relationship between capital structure and firm value, and that the effect is more considerable for growing firms than matured ones. In other words, the explanatory power of statistical study for the model viewed for the growing firms is more than that for the matured firms
format	article
author	Kaveh Mehrani Arash Tahriri Soran Farhadi
author_facet	Kaveh Mehrani Arash Tahriri Soran Farhadi
author_sort	Kaveh Mehrani
title	Firm’s Life Cycle, Capital Structure and Value of Firms Listed in Tehran Stock Exchange (TSE)
title_short	Firm’s Life Cycle, Capital Structure and Value of Firms Listed in Tehran Stock Exchange (TSE)
title_full	Firm’s Life Cycle, Capital Structure and Value of Firms Listed in Tehran Stock Exchange (TSE)
title_fullStr	Firm’s Life Cycle, Capital Structure and Value of Firms Listed in Tehran Stock Exchange (TSE)
title_full_unstemmed	Firm’s Life Cycle, Capital Structure and Value of Firms Listed in Tehran Stock Exchange (TSE)
title_sort	firm’s life cycle, capital structure and value of firms listed in tehran stock exchange (tse)
publisher	Shahid Bahonar University of Kerman
publishDate	2014
url	https://doaj.org/article/f014ac25c94a4a9399aee8bddeea069b
work_keys_str_mv	AT kavehmehrani firmslifecyclecapitalstructureandvalueoffirmslistedintehranstockexchangetse AT arashtahriri firmslifecyclecapitalstructureandvalueoffirmslistedintehranstockexchangetse AT soranfarhadi firmslifecyclecapitalstructureandvalueoffirmslistedintehranstockexchangetse
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Firm’s Life Cycle, Capital Structure and Value of Firms Listed in Tehran Stock Exchange (TSE)

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