نویسندگان
1 دانشگاه علامه طباطبایی
2 رکز تحقیقات نوین، مدیر توسعه، دکترای حقوق
چکیده
کلیدواژهها
عنوان مقاله [English]
نویسندگان [English]
The process of financing and the optimal mix of financing and capital structure are very important in management decisions. Short-term financial debt is one of the methods used for financing. In this study, we examined the relationship between the level of short-term finance and different financial parameters in Tehran Stock Market. Our sample consisted of 90 companies in Tehran Exchange Stock which were investigated for a period of four years from 2007 to 2010. The research hypothesis were developed by extensive reading of related literature and investigated by the three models in the three times of t, t+1 and t-1. The results of all three models showed that there was a significant positive relationship between the level of short-term finance and the period of asset turnover; however, the relationship was negative for the time t and before that. On the other hand, there was a direct effect of the period of asset turnover for the next six months on the level of short-term finance. Additionally, there was a negative relationship between the ROA in all three times of t, t+1 and t-1 and dependent variable of the study, of course in the time t the coefficient of this variable was not significant statistically. The coefficient of the proportion of EBIT to the whole asset in the time t was not significant but for the times before and after this coefficient, there was a significant positive relationship between EBIT and the level of short-term finance. There were different relationships between the proportion of current assets to the whole asset and the level of short-term finance in the three models. The relationships were positive and negative for the current period and before that respectively, while for the next period there was no significant relationship.
کلیدواژهها [English]
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