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Study on the Role of Financial Constraints on the Changes in the Policies of Corporates Listed in Tehran Stock Exchange

Academic Journal of Accounting and Economic Researches

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Title Study on the Role of Financial Constraints on the Changes in the Policies of Corporates Listed in Tehran Stock Exchange
 
Creator Zarnegar, Hussein
Mahmoodzadeh, Ali Asghar
Abdoli, Mohammad Reza
 
Description The  financial  restrictions  refer  to  those  restrictions  that  prevent  providing  all  the  funds  needed  for desired investment. Determination of the exact cause or causes of the financial constraints and financial problems in  any  particular  case  is  not  easy.  In  most  cases,  several  reasons  together  lead  to  the  financial  constraints phenomenon. Changes in corporates’ policies refer to the determination of objectives and the amount of potential wealth to invest as well as the identification of potential kinds of financial assets, in order to put in the reference portfolio. The main objective of this study is to examine the role of financial constraints on corporates’ policies change. In the present study, WW has been used to measure the financial constraints. For this purpose, a sample of 100 corporates listed in Tehran Stock Exchange for the 5-year period 2008 to 2012 has been investigated. To verify the hypotheses, the multiple regression method has been used. The results of hypotheses testing show that there is no  significant  difference  between  the  presence  and  absence  of  a  relationship  between  financial  constraints  and liquidity management, as well as capital structure and financing policies. However, there is a significant difference between existence and non-existence of financial constraints and policies of corporates investment. Keywords: Financial constraints, Liquidity management, Capital structure, Financing.
 
Publisher Academic Journal of Accounting and Economic Researches ISSN 2333-0783
 
Contributor —
 
Date 2015-04-27
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
 
Format —
 
Identifier http://worldofresearches.com/ojs-2.4.4-1/index.php/ajaer/article/view/24
 
Source Academic Journal of Accounting and Economic Researches ISSN 2333-0783; Vol 4, No 2 (2015): April 2015
2333-0783
2375-7493
 
Language eng
 
Relation http://worldofresearches.com/ojs-2.4.4-1/index.php/ajaer/article/view/24/20
 
Rights Copyright (c) 2016 Academic Journal of Accounting and Economic Researches ISSN 2333-0783
http://creativecommons.org/licenses/by-nc/4.0