The main purpose of this article is empirical survey of co- determinants on small and medium size firm’s capital structure listed in Tehran stock exchange. The research period was during 1381-1387.samples, including 74 firms. Results of the hypothesis testing usin
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The main purpose of this article is empirical survey of co- determinants on small and medium size firm’s capital structure listed in Tehran stock exchange. The research period was during 1381-1387.samples, including 74 firms. Results of the hypothesis testing using multiple regressions (OLS) suggests that between two variables named long term interest bearing debt ratio and short-term debts ratio and firm characteristics named age, size, asset structure, profitability, growth and risk exist significantly positive relationship. Considering the firm size and separating firms with small and medium size large size, Results corroborate that firm characteristics age, size, asset structure, profitability, growth and risk have an impact on long term interest bearing debt ratio and short-term debts ratio. This influence is different in small and medium size firms. Therefore size criterion is effective and its impact on firm characteristics in smaller firms is higher.
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