Investigating the effect of joint stock company financing on the purchase and development of shares of active companies in the stock market
Subject Areas : Financial Economicsفاطمه حسینخانی 1 , Yadollah Rajaei 2 * , نعمت فلیحی 3 , محمد دالمن پور 4
1 - دانشگاه آزاد اسلامی واحد زنجان
2 - Department pf economics, Zanjan branch, Islamic Azad University, Zanjan,Iran
3 - استادیار، عضو هیئت علمی دانشگاه آزاد اسلامی واحد تهران مرکزی، تهران، ایران.
4 - گروه اقتصاد ، دانشکده اقتصاد ، دانشگاه آزاد اسلامی واحد زنجان،ایران
Keywords: Financing, issuance of shares, bonds, borrowing,
Abstract :
Funding methods are effective for the continuation of activities in the growth process of companies and make companies continue to live in a competitive world. The main goal of this research was to determine the effect of financing a joint-stock company on the purchase and development of shares. The statistical population of the research is all the companies admitted to the Tehran Stock Exchange in the period of 2013 to 2019, which was determined using a non-random method and according to the availability of information, including 120 companies and was fitted using Eviews10 software. In the first part, the research hypotheses were investigated using descriptive statistics and panel data econometric methods. All the research variables are stationary at the I0 level and there is a long relationship between the variables of the number of stock purchases, net cash from financing activities, net cash from long-term debt issuance, net cash from the sale of shares after deducting dividends paid, company size. , there is the company's profitability and company's liquidity, using the Chau-Hasman test, it was determined that some of the research models are of the mixed type with fixed effects and some of the random effects. In the continuation of the research hypotheses, the obtained results show that; The financing of a joint-stock company has an effect on the purchase and development of the stock market. The findings of the research show that companies can provide the financial resources they need from inside or outside the company