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The Mediation Effect of Financial Leverage on the Relationship between Ownership Concentration and Financial Corporate Performance | ||
Interdisciplinary Journal of Management Studies (Formerly known as Iranian Journal of Management Studies) | ||
مقاله 6، دوره 10، شماره 3، مهر 2017، صفحه 697-714 اصل مقاله (710.35 K) | ||
نوع مقاله: Research Paper | ||
شناسه دیجیتال (DOI): 10.22059/ijms.2017.230026.672597 | ||
نویسندگان | ||
Amirhossein Taebi Noghondari* ؛ Ali Taebi Noghondari | ||
Department of Accounting, Kerman Branch, Islamic Azad University, Kerman, Iran | ||
چکیده | ||
The purpose of this paper is examining the impact of financial leverage as a mediation variable on the relationship between ownership concentration and financial corporate performance. To test the hypotheses, multiple regression analysis is used. The statistical population of this research is all listed companies in Tehran Stock Exchange. However, data were available only for 60 companies during the period of 2004-2015. The research results show that the ownership structure negatively affects the financial corporate performance. Moreover, the financial leverage explains the relationship between the ownership concentration and financial corporate performance. It is recommended to the investors and other users of financial statements to increase the quality of their portfolio decisions, by taking into account the hidden impact of financial leverage on the relationship of ownership concentration and the companies’ performance, in addition to the direct impact of ownership concentration on the companies’ performance. | ||
کلیدواژهها | ||
Financial Leverage؛ market performance؛ mediation effect؛ ownership concentration | ||
مراجع | ||
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