Aim: social capital is a variable that drives economic behaviors toward collective well-being. The extent of financial leverage and achieving its optimal level is always considered by analysts. In connection with the optimal level of borrowing; financing rate was considered through debts in areas with different levels of social capital. By examining the relationship between total social capital and its triple levels with financial leverage, the effect of the amount of trust obtained from social capital was examined.Method: social capital in this study includes total social capital and each of its triple levels; social capital is at the macro, intermediate and micro levels. The research sample includes information of 121 companies listed on the Tehran stock exchange during the years 2014 to 2018.Findings: companies located in areas with high total, macro and intermediate social capital have a lower book financial leverage ratio than companies located in areas with low social capital. In these companies, due to the existence of higher social capital and, of course, the more optimal level of financial leverage in the capital structure, the cost of financing is lower. On the other hand, due to the mutual trust caused by social capital, the cost of representing companies can be reduced. Also, no significant relationship was found between total social capital and its levels with market financial leverage.
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