The Mediation Effect of Financial Leverage on the Relationship between Ownership Concentration and Financial Corporate Performance
- سال انتشار: 1396
- محل انتشار: مجله ایرانی مطالعات مدیریت، دوره: 10، شماره: 3
- کد COI اختصاصی: JR_JIJMS-10-3_006
- زبان مقاله: انگلیسی
- تعداد مشاهده: 83
نویسندگان
Department of Accounting, Kerman Branch, Islamic Azad University, Kerman, Iran
Department of Accounting, Kerman Branch, Islamic Azad University, Kerman, Iran
چکیده
The purpose of this paper is examining the impact of financial leverage as a mediation variable on the relationship between ownership concentration and financial corporate performance. To test the hypotheses, multiple regression analysis is used. The statistical population of this research is all listed companies in Tehran Stock Exchange. However, data were available only for ۶۰ companies during the period of ۲۰۰۴-۲۰۱۵. The research results show that the ownership structure negatively affects the financial corporate performance. Moreover, the financial leverage explains the relationship between the ownership concentration and financial corporate performance. It is recommended to the investors and other users of financial statements to increase the quality of their portfolio decisions, by taking into account the hidden impact of financial leverage on the relationship of ownership concentration and the companies’ performance, in addition to the direct impact of ownership concentration on the companies’ performance.کلیدواژه ها
Financial Leverage, market performance, mediation effect, ownership concentrationاطلاعات بیشتر در مورد COI
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