Investigating the effect of macroeconomic variables on financial distress among the companies in Tehran Stock Exchange (Case study: pharmaceutical companies)

سال انتشار: 1394
نوع سند: مقاله کنفرانسی
زبان: انگلیسی
مشاهده: 649

فایل این مقاله در 14 صفحه با فرمت PDF قابل دریافت می باشد

استخراج به نرم افزارهای پژوهشی:

لینک ثابت به این مقاله:

شناسه ملی سند علمی:

ICMBA01_108

تاریخ نمایه سازی: 16 اسفند 1394

چکیده مقاله:

Due to the role and state of the pharmaceutical industry, it is necessary to investigate the effects of macroeconomic variables on this part of economy. The macroeconomic situations of Iran can be efficient in the financial distress among pharmaceutical companies which are active in Stock Exchange. By being aware of the effects of macroeconomic variables on the financial distress in pharmaceutical companies, the managers are able to take important measures to prevent from financial distress. Therefore, in this study, with the help of an econometric model and use of data extracted from the pharmaceutical companies in Tehran Stock Exchange during 2005-2013 periods, the effect of macroeconomic situation as well as market situation on the financial distress in pharmaceutical companies in Tehran Stock Exchange was investigated. The results indicated that the increase in rate of inflation and bank interest rate(r ) led to an increase in the possibility of financial distress and the facilities granted by banks. Furthermore, the real share price index (PRICE) and real rate of return (RET)led to a decrease in the possibility of financial distress in pharmaceutical companies in Tehran Stock Exchange.

نویسندگان

Kamran taremi

Islamic Azad University, Abhar , Zanjan , Iran

Yadollah khodaverdi

Islamic Azad University, Zanjan , Iran

مراجع و منابع این مقاله:

لیست زیر مراجع و منابع استفاده شده در این مقاله را نمایش می دهد. این مراجع به صورت کاملا ماشینی و بر اساس هوش مصنوعی استخراج شده اند و لذا ممکن است دارای اشکالاتی باشند که به مرور زمان دقت استخراج این محتوا افزایش می یابد. مراجعی که مقالات مربوط به آنها در سیویلیکا نمایه شده و پیدا شده اند، به خود مقاله لینک شده اند :
  • O'Leary , D. E. (1998). Using neural networks to predict ...
  • Zopounidis _ C., and Dimitras, A. (1998). Multi-criteria Decision Aid ...
  • Altman , E.I. and Hotchkiss, E. (2006). Corporate Financial Distress ...
  • Kordestani , Gh. , Totley , R., and Kosarifar , ...
  • Higgins , R. C., (2007). Analysis for Financial Management. McGraw-Hil ...
  • Gordon , M.J. (1971). Towards a theory of financial distress. ...
  • Whitaker , R. (1999). The early stages of financial distress. ...
  • Kouki , M., and Elkhaldi, A. (2011). Towards a Predicting ...
  • Newton .G.W. (1998) _ Bankruptcy and Insolvency Accounting, Practice and ...
  • Altman , E. I. (1971). Corporate Bankruptcy in America. Lexington, ...
  • Keynes , J.M. (1973). The Collected writings of John Maynard ...
  • Aiyabei , J. (2000). Financial Distress: Theory, Measurement & Consequence. ...
  • Adam , S.(1776). An Inquiry into the Nature and Causes ...
  • Tykvova , T. and Borel, M. (2012). Do Private Equity ...
  • Violeta , A.M. and Mare _ C., and Nicolae , ...
  • Jostarndt , P., and Sautner, Z. (2008). Financial distress, corporate ...
  • Li _ D., and Liu, J.(2009). Determinants of Financial Distress ...
  • Mansourfar , Gh. , Ghayoor, F., and Lotfi, B.(2013). The ...
  • Mohseni , R., Agha babaee , R., and Ghorbani, V.M.(2013). ...
  • Kordestani , Gh. , Biglari , V., and Bakhtiari , ...
  • Gutierre _ L.G., Azofra , S.S., and Olmo , T.B. ...
  • نمایش کامل مراجع