Companies pay attention to the value level of financial flexibility in making decisions related to optimizing investments and applying their net working capital policies. This issue will make profitable investment opportunities for companies more efficient and enable co More
Companies pay attention to the value level of financial flexibility in making decisions related to optimizing investments and applying their net working capital policies. This issue will make profitable investment opportunities for companies more efficient and enable companies to gain more efficiency, as well as apply more optimal policies to keep cash. The purpose of this research is to investigate the effect of financial flexibility value and financial constraint on the speed of adjustment of net working capital, as well as the effect of financial constraint on the relationship between the value of financial flexibility and the speed of adjustment of net working capital in companies listed on the Tehran Stock Exchange. The appropriate pattern recognition test in combined data indicates the use of the regression model of the research using the panel data method with the fixed and random effects approach for the panel and pooled data patterns to estimate the regression model. The statistical sample includes 100 companies accepted to the Tehran Stock Exchange during the period from 2005 to 2020. The findings indicate that the value of financial flexibility has a positive and significant effect on the speed of adjustment of net working capital in the models of partial adjustments and error correction. Financial constraint has a positive and significant effect on the speed of net working capital adjustment, and it also has a positive and significant effect on the relationship between the value of financial flexibility and the speed of net working capital adjustment.
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AbstractThe purpose of this research is to investigate the relationship between management ability with financial constraints and cash holding value. Demarjian et al.'s model was used to measure management ability, Falkander and Wong's model was used to measure cash hol More
AbstractThe purpose of this research is to investigate the relationship between management ability with financial constraints and cash holding value. Demarjian et al.'s model was used to measure management ability, Falkander and Wong's model was used to measure cash holding value, and White and Wu's index was used to measure financial constraints. The statistical population of the research was all the companies admitted to the Tehran Stock Exchange in the period from 2014 to 2019, and the purposeful elimination method was used to determine the size of the statistical sample. Finally, 151 companies were selected as a statistical sample. The statistical results showed that management ability in companies reduces financial restrictions and improves cash holding value. Hence, it can be concluded that the ability of management becomes an important factor in improving the company's investment decisions and the efficiency of its operations. The selection of capable managers has led to an increase in efficiency and productivity in the company, which can lead to the success of the company in the industry.
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The purpose of this study was to investigate the relationship between management overconfidence and social responsibility, to investigate the relationship between corporate social responsibility and performance with the moderating role of managerial overconfid More
Abstract
The purpose of this study was to investigate the relationship between management overconfidence and social responsibility, to investigate the relationship between corporate social responsibility and performance with the moderating role of managerial overconfidence and to investigate the relationship between corporate responsibility and corporate performance with the role of moderating financial constraints. This study is an appliedresearch in terms of purpose and a descriptive-correlation research in terms of nature and method. The statistical population of this research is the companies listed on the Tehran Stock Exchange. Using the data collected from the statistical sample of the research, which includes 138 companies, the research hypotheses were tested. To calculate managerial overconfidence, the capital expenditure ratio was used and to calculate the corporate social responsibility index, data envelopment analysis (DEA) method was used. Social accountability Data envelopment analysis method was used. The results show that managerial overconfidence has a positive and significant relationship with corporate social responsibility. Also, managerial overconfidence weakens the relationship between corporate social responsibility and company performance, and financial constraints do not moderate the relationship between corporate social responsibility and company performance.
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