عنوان مقاله :
اﺛر دورة ﺣﻳﺎة اﻟﻣﻧﺷﺄة ﻋﻠﻰ ﻫﻳﻛﻝ راس ﻣﺎﻟﻬﺎ: دﻟﻳﻝ ﻣن اﻷردن
پديد آورندگان :
ﻋﺑداﻟﻠطﻳف, ﻳزﻳد ﺻﺎﻟﺢ اﻟﺑﻧك اﻟﻣرﻛزي اﻷردﻧﻲ, الاردن , اﻟدﺑﻌﻲ, ﻣﺄﻣون ﻣﺣﻣد
چكيده عربي :
ﺗﻬدف ﻫذﻩ اﻟدراﺳﺔ اﻟﻰ اﺧﺗﺑﺎر اﺛر دورة ﺣﻳﺎة اﻟﺷرﻛﺔ ﻋﻠﻰ ﻫﻳﻛﻝ راس ﻣﺎﻟﻬﺎ وذﻟك ﻟﻌﻳﻧﺔ ﺷﻣﻠت (56) ﺷرﻛﺔ ﺻﻧﺎﻋﻳﺔ ﻣدرﺟﺔ ﻓﻲ ﺳوق ﻋﻣﺎن اﻟﻣﺎﻟﻲ ﺧﻼﻝ اﻟﻔﺗرة (2015-2006)، وﻗد اﺳﺗﺧدﻣت اﻟدراﺳﺔ ﻧﻬﺞ Dickinson (2011) ﻟﺗﺣدﻳد ﻣراﺣﻝ دورة ﺣﻳﺎة اﻟﺷرﻛﺔ. وﻟﺗﺣﻘﻳق ﻫدف اﻟدراﺳﺔ ﻓﻘد ﺗم اﺳﺗﺧدام اﺳﻠوب اﻻﻧﺣدار اﻟﻣﺗﻌدد ﻻﺧﺗﺑﺎر ﻓرﺿﻳﺎت اﻟدراﺳﺔ. وﺗوﺻﻠت اﻟدراﺳﺔ اﻟﻰ ان ﻣﺗوﺳط ﻧﺳﺑﺔ اﻟﻣدﻳوﻧﻳﺔ ﻟﻌﻣوم اﻟﺷﱠرﻛﺎت اﻟﺻﻧﺎﻋﻳﺔ اﻟﻣﺳﺎﻫﻣﺔ اﻟﻌﺎﻣﺔ اﻻردﻧﻳﺔ ﻣﻧﺧﻔﺿﺔ، اﻻ ان درﺟﺔ اﻻﻋﺗﻣﺎد ﻋﻠﻰ اﻟدﻳن ﻓﻲ ﻫﻳﻛﻝ راس اﻟﻣﺎﻝ ﻛﺎﻧت اﻷﻋﻠﻰ ﻓﻲ ﻣرﺣﻠﺗﻲ اﻟﺑداﻳﺔ واﻟﻧﻣو. وﻗد اظﻬرت ﻧﺗﺎﺋﺞ ﺗﺣﻠﻳﻝ اﻻﻧﺣدار وﺟود ﻋﻼﻗﺔ ﻋﻛﺳﻳﺔ ذات دﻻﻟﺔ اﺣﺻﺎﺋﻳﺔ ﺑﻳن ﻣراﺣﻝ دورة ﺣﻳﺎة اﻟﺷرﻛﺔ ودرﺟﺔ ﻧﺳﺑﺔ اﻟﻣدﻳوﻧﻳﺔ ﻓﻲ اﻟﻘطﺎع اﻟﺻﻧﺎﻋﻲ اﻷردﻧﻲ، ووﺟود ﻋﻼﻗﺔ ذات دﻻﻟﻪ اﺣﺻﺎﺋﻳﺔ ﺗدﻝ ﻋﻠﻰ وﺟود ﺗطور ﺗدرﻳﺟﻲ ﻓﻲ اﻟﻣﺗﻐﻳرات اﻟﺗﻔﺳﻳرﻳﺔ ﻋﺑر ﻣراﺣﻝ دورة ﺣﻳﺎة اﻟﺷرﻛﺔ، وان ﻧظرﻳﺔ اوﻟوﻳﺎت اﻟﺗﻣوﻳﻝ ﻫﻲ اﻻﻗدر ﻋﻠﻰ ﺷرح اﻟﺳﻠوك اﻟﺗﻣوﻳﻠﻲ ﻟدى اﻟﺷرﻛﺎت اﻟﺻﻧﺎﻋﻳﺔ اﻟﻣﺳﺎﻫﻣﺔ اﻟﻌﺎﻣﺔ اﻻردﻧﻳﺔ ﻓﻲ ﻛﺎﻓﺔ ﻣراﺣﻝ ﺣﻳﺎﺗﻬﺎ ﺑﺎﺳﺗﺛﻧﺎء ﻣرﺣﻠﺔ اﻻﻧﺣدار، وان ﻧظرﻳﺔ اوﻟوﻳﺎت اﻟﺗﻣوﻳﻝ وﻧظرﻳﺔ اﻟﻣﻘﺎﻳﺿﺔ ﻓﻲ اﻹدارة اﻟﻣﺎﻟﻳﺔ ﻏﻳر ﻗﺎدرة ﻋﻠﻰ ﺗﻔﺳﻳر اﻟﺳﻠوك اﻟﺗﻣوﻳﻠﻲ ﻟﻠﺷرﻛﺎت اﻟﺻﻧﺎﻋﻳﺔ اﻟﻣﺳﺎﻫﻣﺔ اﻟﻌﺎﻣﺔ اﻻردﻧﻳﺔ ﻓﻲ ﻣرﺣﻠﺔ اﻻﻧﺣدار.
چكيده لاتين :
This study aims to test the impact of the company's life cycle on its capital structure for a sample that included (56) industrial companies listed on the Amman Stock Exchange during the period (2006-2015). To achieve the study's objective, the multiple regression method was used to test the study's hypotheses. The study concluded that the average debt ratio for all Jordanian industrial public shareholding companies is low, but the degree of dependence on debt in the capital structure was the highest in the initial and initial stages. The results of regression analysis have shown an antiquely reverse relationship between the company's life cycle and the degree of debt in the Jordanian industrial sector. There is a statistical relationship indicating a gradual development in explanatory variables through the stages of the company's life cycle and the theory of funding priorities is more Explanation of the financing behavior of the Jordanian public shareholding industrial companies in all stages of their life, except for the regression stage, and that the theory of financing priorities and barter theory in financial management is not able to share the financing.
كليدواژه :
دورة ﺣﻳﺎة اﻟﺷرﻛﺔ , ﻫﻳﻛﻝ راس اﻟﻣﺎﻝ , ﻧظرﻳﺔ اوﻟوﻳﺎت اﻟﺗﻣوﻳﻝ , ﻧظرﻳﺔ اﻟﻣﻘﺎﻳﺿﺔ.
عنوان نشريه :
المجله الاردنيه في اداره الاعمال