Organizational Inertia and Cost of Equity Capital
- سال انتشار: 1403
- محل انتشار: مجله ایرانی مطالعات مدیریت، دوره: 17، شماره: 3
- کد COI اختصاصی: JR_JIJMS-17-3_016
- زبان مقاله: انگلیسی
- تعداد مشاهده: 165
نویسندگان
Department of Accounting, Nour Branch, Islamic Azad University, Nour, Iran
Department of Accounting, Bandargaz Branch, Islamic Azad University, Bandargaz, Iran
Department of Accounting, University of Guilan, Rasht, Iran
چکیده
Organizational inertia as a defensive mechanism has pervasive effects on the functional aspects of organizations, including financial functions. One of these financial aspects affected by inertia is the cost of equity capital. Hence, This article aims to contribute to the accounting knowledge literature by presenting the framework of organizational inertia (OI) and investigating the effect of the cost of equity capital (COE) on it. This article uses meta-synthesis, the Delphi process, and, finally, questionnaire design to measure organizational inertia. The mentioned questionnaire was sent to the managers of the sample companies, and finally, ۱۳۸ questionnaires were completed and returned and included in the statistical analysis. To measure the cost of equity capital, we use three proxies, including the O’Hanlon and Steele (۲۰۰۰) Model (OSM), CAPM, and Industry-Adjusted Earnings-to-Stock Price Ratio (IndEP). The results show that organizational inertia has a positive and significant effect on the cost of equity capital. The research results have confirmed that organizational inertia has a positive and significant effect on the cost of equity capital. This means that the increase in structural resistance causes the company's financing costs to increase, and the company faces more challenges in obtaining resources.کلیدواژه ها
Corporate Inertia, cost of equity, Meta-synthesisاطلاعات 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.