Author/Authors :
Hashem nejad، Yaghoob نويسنده Islamic Azad University, branch of Ramsar, Ramsar, Iran , , Oskou، Vahid نويسنده Gonbad Kavous University, Faculty of Humman science, Department of accounting, Iran , , Mohammad Nezhad، Atefeh نويسنده MA Student, Raja Higher Education Institute, Qazvin, Iran , , Rahimi، Majid نويسنده MA Student, Raja University of Qazvin, Qazvin, Iran , , Talebian، Mahdi نويسنده Shomal University, Amol, Iran ,
Abstract :
Among the characteristics of the today emerging markets is the focus on the parameter of capital and effective methods in developing and maintaining the value of the corporation and the risk management of the corporation in finance market, which constitute one of the competitive scenes among the corporations in all of the markets. The purpose of this study is to investigate the relationship between the market competition and capital structure of the corporations. For this purpose, we investigated the Tehranʹs stock exchange by using the panel data regression model for the time period 2005 to 2009. The results suggest that there is a significant and positive relationship between competitiveness and the capital structure. Also, the results showed that there is no significant relationship between the size of the corporation, uniqueness of the assets, sales growth and the collateral value of the assets variables and the capital structure of the corporations. Moreover, there was a significant and positive relationship between the current ratio of the corporations and the capital structure, and a significant and negative relationship between profitability ratio, capability of generating internal resources, and non-debt tax shield variables and the capital structure.
