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        1 - Presenting the pattern of capital increase and its role on changes in the market value of the company's shareholders
        Iran Abazari Ahmad Pifeh Fardin Mansouri Abbas Ali Haqparast
        Various factors affect the company's financing patterns. The purpose of this research was to investigate the factors affecting the financing model through capital increase and its impact on the market value of equity. Companies to achieve goals such as continuity, growt More
        Various factors affect the company's financing patterns. The purpose of this research was to investigate the factors affecting the financing model through capital increase and its impact on the market value of equity. Companies to achieve goals such as continuity, growth and development of activities, greater presence in domestic and foreign markets and many other reasons. , need financial resources. There are different ways to finance companies, the most important of which are capital increase, obtaining bank facilities, and issuing debt securities. The method of carrying out this research was chosen from a mixed type and according to the results of interviews with the experts of the data analysis of the foundation used, it determined the purposes of capital increase, the methods of capital increase, the difference in the rules of the Tehran Stock Exchange and the phenomenon of stock dilution after the release of important new shares. The most important components affecting the pattern of capital increase. In addition, the results of the foundation's data analysis evaluated by using the questionnaire tool and soliciting opinions from 400 financial managers and university professors using the structural equation analysis method. The results of the quantitative analysis stated that the purposes of capital increase, the methods of increasing the shareholders' cash flow and the use of shares and the dilution of shares have a significant effect on the increase of capital and consequently the changes in shareholders' equity. Manuscript profile
      • Open Access Article

        2 - Capital Increase & Abnormal Return From Evidence Tehran Stock Exchange
        جواد عبادی اسماعیل حسن پور
        In this paper the factors influencing abnormal return on common stock will be addressed. Regarding capital increase in Tehran Security Stock Exchange the four independent factors potential efficacy abnormal return. The factors are as following capital to increase the ma More
        In this paper the factors influencing abnormal return on common stock will be addressed. Regarding capital increase in Tehran Security Stock Exchange the four independent factors potential efficacy abnormal return. The factors are as following capital to increase the market value of outstanding shares; volatility of daily returns, firm's size (in terms of market value of outstanding shares) and market cumulative return (MCR). This paper addresses factors influencing abnormal returns of common stocks, in regard to “capital increase” in Tehran Security Exchange. We identify and examine four factors potentially influencing abnormal return. These factors are: capital increase to market value of outstanding shares, volatility of daily returns, firm's size (in terms of market value of outstanding shares) and market cumulative return (MCR). Our sample consists of 96 capital increase in firms listed in Tehran Security Exchange between 1383 and 1386. To examine the effects of capital increase on abnormal return, we use an event study. Cumulative abnormal returns are calculated for two thirty-day windows before and after the event. We use a multi-variable regression to compare the results in these two windows. We find that capital increase cause “negative” abnormal returns. Among four independent variables, only volatility of daily returns influences abnormal returns. Manuscript profile
      • Open Access Article

        3 - Analysis of capital increase of public joint stock companies in Iranian law.
        Reza Mohammadi Darvishvand Ali Zare Mehdi Montazer Seyed Yaghoub Zeraatkish
        AbstractCapital is one of the most limited economic resources of companies and for this reason, financial managers are always looking for ways to use it optimally to provide managers of enterprises. Therefore, what needs to be reviewed and revised is the validity of the More
        AbstractCapital is one of the most limited economic resources of companies and for this reason, financial managers are always looking for ways to use it optimally to provide managers of enterprises. Therefore, what needs to be reviewed and revised is the validity of the procedures for the optimal allocation of resources in companies, which ultimately leads to economic and social growth and gains people's confidence in the proper use of their capital. One of the important concepts about company capital is the issue of capital structure. In discussing the capital structure, it refers to how the company's financing sources are combined, such as short-term debt, bonds (partnership), long-term debt, preferred stock and common stock. Despite the great importance of the issue of capital structure, many legal aspects of capital structure changes in joint stock companies are still not clearly explained and analyzed; therefore, in this article, with a descriptive-analytical approach, the capital increase of public joint stock companies in Iranian and British law has been analyzed.KeywordCapital structure, public company, capital increase, UK law Manuscript profile
      • Open Access Article

        4 - Evaluation of management forecasts in corporate capital increase justification reports
        صغری عابدی mohammad hossain gaemi taher eskandarli
        Investment decisions require corporate executives to anticipate the future performance of the company in the form of a capital increase justification plan.. Although these predictions are an important factor in the success of an investment, they are not directly observa More
        Investment decisions require corporate executives to anticipate the future performance of the company in the form of a capital increase justification plan.. Although these predictions are an important factor in the success of an investment, they are not directly observable by external stakeholders. The purpose of this study is to evaluate the accuracy of management forecasts of revenue and operating profit of the company in the explanatory reports of capital increase of companies. In this regard, the accuracy of capital increase forecast with the variables of company size, return on assets, financial leverage, property rights, floating stocks and capital increase ratio has been examined. To review the research, a sample consisting of 184 companies listed on the Tehran Stock Exchange in the period 2007 to 2020 was selected and the data were analyzed using regression. The results show that there is a significant direct relationship between firm size variable and book value of owners' rights inversely related to operating profit, but there is a significant relationship with independent research variables including firm size, return on assets, leverage. Financial, book value of equity and floating stocks were not observed with the dependent variable of operating income. Manuscript profile