Which Investment method is selected by companies in each stage of their Life Cycle? (Investing in operating assets or non-operational assets)
- سال انتشار: 1398
- محل انتشار: مجله مالی ایران، دوره: 3، شماره: 1
- کد COI اختصاصی: JR_IJFIFSA-3-1_006
- زبان مقاله: انگلیسی
- تعداد مشاهده: 148
نویسندگان
Ph.D. Candidate, Department of Accounting, Islamic Azad University, Aliabad Katoul branch, Aliabad Katoul, Iran.
Associate Prof., Department of Accounting, Islamic Azad University, Aliabad Katoul branch, Aliabad Katoul, Iran.
Assistant Prof., Department of Accounting, Islamic Azad University, Aliabad Katoul branch, Aliabad Katoul, Iran.
Assistant Prof., Department of Accounting, Islamic Azad University, Aliabad Katoul branch, Aliabad Katoul, Iran.
چکیده
One of the main causes of firms’ ineffectiveness is the absence or insufficiency of appropriate investment methods. This deficiency could also be attributed to an unfortunate selecting of an inappropriate investment methods which may ultimately endanger the firms’ prospect of survival. According to the firm life cycle theory, various firms demonstrate diverse behavior when provided with an investment opportunity. These responses are largely in accordance with the stage of the life cycle in which the firm resides in at that moment. In this research, the selection of the investment method appropriate for a firm has been studied following the premises of the life cycle theory. The target populations of this study were companies admitted to Tehran Stock Exchange. Systematic removal method was adopted to recruit a sample of ۱۱۸ firms. The study period was ۸ years (۲۰۱۱-۲۰۱۸). Findings suggest that firms choose to invest in operational properties when they are at the stage of growth, maturity and decline. In other words, the capital under the companies’ authority and control were employed for the firms’ mainstream activities. However, such a link was not found at the introduction stage of their life cycle. This relation has been illustrated in various industries.کلیدواژه ها
Firm Life Cycle theory, Capital Investment Choice, Industrial typeاطلاعات بیشتر در مورد COI
COI مخفف عبارت CIVILICA Object Identifier به معنی شناسه سیویلیکا برای اسناد است. COI کدی است که مطابق محل انتشار، به مقالات کنفرانسها و ژورنالهای داخل کشور به هنگام نمایه سازی بر روی پایگاه استنادی سیویلیکا اختصاص می یابد.
کد COI به مفهوم کد ملی اسناد نمایه شده در سیویلیکا است و کدی یکتا و ثابت است و به همین دلیل همواره قابلیت استناد و پیگیری دارد.