تاثير ساختار سرمايه بر نرخ بازده سهام و درآمد هر سهم

Investigating the Relationship between Capital Structure and Stock Rate of Return and EPS.

This Paper investigates the relationship between capital structure and stock rate of return and EPS. The capital structure including debt, because of tax advantage causes earnings and EPS to increase. At the other hand, because of interest expense and fail for repayment the debt, the financial risk increases and as a result stock market price and stock rate of return decrease. We consider debt to assets and debt to equity ratios as independent variables and stock rate of return and EPS as dependent variables. We study a sample of 51 Companies Listed in TSE for the years 1999 to 2005. For hypothesis testing, we use pooled data regression models. The results show that there is a positive and significant relationship between debt to equity ratio and stock rate of return and EPS. Also, the results show a significant relationship between debt to assets ratio and EPS.