رابطه جريانهاي نقدي ناشي از فعاليتهاي تامين مالي و بازده سهام

The Relation of Cash Flows from Financing Activities & Stock Return

One of the most important fields of management decision making that has important effect on the wealth of stockholders is financing methods of the firm. Companies need financial resources for their current operation & future growth. For financing, companies usually face some limitations. This research intends to investigate whether companies financing methods have an impact on their returns or not We examined 111 firms over the period 1382-1386 selected from Tehran stock exchange. This research is an empirical study, which investigates the relation between accounting and financial variables by using regression method & pearsonʹs correlation coefficient. The methodology of this research is past event study. Results indicate that there is reverse relation between cash flows from financing activities (cash flows from borrowing) and stock return. We also find that there is no significant relation between cash flows from issuing bonds and the stock return.