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Scholars Journal of Economics, Business and Management | Volume-2 | Issue-12
The impact on the ownership structure and capital structure of listed companies in Tehran Stock Exchange
AbazarMahmoudy, YosefAsadzadeh, Farhad Moradpour, Somayeh Safdariyan
Published: Dec. 31, 2015 | 96 61
DOI: 10.36347/sjebm.2015.v02i12.010
Pages: 1198-1203
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Abstract
The aim of this study was to evaluate the impact of the ownership structure and capital structure of listed companies on the Stock Exchange in Tehran. Thus, during the years 1385 to 1393 , 186 companies as samples, were tested using a multiple regression model hypotheses. The Tobin's Q ratio (Tobins Q) and return on assets (ROA) has been used as an indicator of the performance of companies. Ownership structure were examined through the mechanisms of institutional shareholders, shareholder equity and capital structure of modules and focus on indicators of long-term debtto-equity ratio and the ratio of equity debts. In general, hypothetical test results showed that among the mechanisms of ownership structure, institutional shareholders has a significant positive correlation with Tobin's Q ratio and shareholder block has a significant positive correlation with the rate of return on assets. Results also showed that the capital structure has a significant negative correlation with the performance of firms.