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بررسی اثر جهانی‌شدن بر هزینۀ سرمایۀ شرکت‌های پذیرفته‌شده در بورس اوراق بهادار تهران با رویکرد داده های ترکیبی | ||
| تحقیقات مالی | ||
| مقاله 8، دوره 16، شماره 2، مهر 1393، صفحه 327-344 اصل مقاله (351.91 K) | ||
| نوع مقاله: مقاله علمی پژوهشی | ||
| شناسه دیجیتال (DOI): 10.22059/jfr.2014.50706 | ||
| نویسندگان | ||
| کاوه قادری* 1؛ سامان قادری2؛ صلاح الدین قادری3 | ||
| 1کارشناس ارشد حسابداری، دانشگاه پیام نور، ایران | ||
| 2دکتری اقتصاد، دانشگاه پیام نور، ایران | ||
| 3کارشناسارشد حسابداری، دانشگاه آزاد اسلامی، بانه، ایران | ||
| چکیده | ||
| هدف مطالعۀ حاضر بررسی اثر جهانی‌شدن بر هزینۀ سرمایۀ شرکت‌های پذیرفته‌شده در بورس اوراق بهادار تهران است. در این راستا، از درجۀ باز‌بودن تجاری به‌منزلۀ شاخص جهانی‌شدن تجارت و همچنین از سایر متغیرهای کنترلی مؤثر بر هزینۀ سرمایه از‌قبیل اندازۀ شرکت، نسبت داراییهای ثابت به کل داراییها، نسبت آنی و نسبت بدهیها به کل حقوق صاحبان سهام برای شرکت‌های پذیرفته‌شده در بورس اوراق بهادار تهران برای دورۀ زمانی 1389-1385 استفاده شده است. بر‌اساس نتایج پژوهش حاضر اثر جهانی‌شدن تجارت بر هزینۀ سرمایه برای کل شرکتها، پذیرفته میشود و میتوان گفت آزاد‌سازی تجاری سبب کاهش هزینۀ سرمایه خواهد شد. همچنین متغیرهای نسبت آنی، نسبت داراییهای ثابت به کل داراییها، اندازۀ شرکت و نسبت بدهیها به کل حقوق صاحبان سهام تأثیر معناداری بر هزینۀ سرمایه میگذارند، اما با تفکیک شرکتها به صنایع مختلف این اثر متفاوت است؛ به‌طوری‌که، اثر جهانی‌شدن بسته به حجم صادرات و واردات هر‌یک از شرکتها، تأثیری متفاوت بر شرکتها خواهد گذاشت. | ||
| کلیدواژه‌ها | ||
| جهانی‌شدن؛ دادههای ترکیبی؛ هزینۀ سرمایه | ||
| عنوان مقاله [English] | ||
| The Survey of the Impact of globalization on the cost of capital of listed companies in Tehran Stock Exchange: Panel Data Approach | ||
| نویسندگان [English] | ||
| Kaveh ghaderi1؛ Saman Ghaderi2؛ Salahadin Ghaderi3 | ||
| 1Instructor, Payam Noor University, Iran | ||
| 2Ph.D, Payam Noor University, Iran | ||
| 3Instructor, Islamic Azad University , Baneh, Iran | ||
| چکیده [English] | ||
| The purpose of this study is to evaluate the effect of globalization on the cost of capital accepted companies in Tehran Stock Exchange (TSE(. In this regard, the degree of trade openness as an index the globalization of trade and other control variables such as firm size, the ratio of fixed assets to total assets, instantaneous ratio and the ratio of debts to total of equity has been used for the accepted companies in Tehran Stock Exchange during 2005-2010. The results of using of panel data show that the globalization of trade has a negative effect on the cost of capital. Also, the instantaneous ratio of fixed assets to total assets, firm size and the ratio of total of debt to equity have a significant effect on the cost of capital. But by separation of firms in different industries, the effect is different. As depending on the volume of exports and imports of each company, the effects of globalization will have a different impact on firms. | ||
| کلیدواژه‌ها [English] | ||
| Globalization, Cost of capital, pooling data | ||
| مراجع | ||
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