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بررسی تأثیر وابستگی دولتی بر ریسک سیستماتیک شرکتهای پذیرفته شده در بورس اوراق بهادار تهران | ||
راهبرد مدیریت مالی | ||
مقاله 7، دوره 4، شماره 2 - شماره پیاپی 13، شهریور 1395، صفحه 121-137 اصل مقاله (6.09 M) | ||
نوع مقاله: مقاله پژوهشی | ||
شناسه دیجیتال (DOI): 10.22051/jfm.2016.2485 | ||
نویسندگان | ||
مرتضی بیات* 1؛ حسن زلقی2؛ طاهر هاشمی3 | ||
1کارشناس ارشد حسابداری، دانشکده مدیریت و حسابداری، دانشگاه شهید بهشتی | ||
2مدیرگروه حسابدرای دانشگاه بوعلی سینا | ||
3کارشناس ارشد مالی | ||
چکیده | ||
پژوهش حاضرارتباط و ابستگی دولتی با ریسک سیستماتیک شرکت را مورد بررسی قرار میدهد.در این پژوهش،دادههای 76 شرکت پذیرفته شده در بورس اوراق بهادار تهران، برای سالهای 1384الی 1393 جمعآوری وفرضیه تحقیق با استفاده از تحلیل ضرایب رگرسیون مورد آزمون قرار گرفته است.نتایج پژوهش بیانگر وجود رابطه مستقیم ومعنادار بین وابستگی دولتی وریسک سیستماتیک میباشد،به عبارتی میتوان بیان کرد شرکتهایی که وابستگی دولتی دارند به احتمال فراوان در معرض ریسک سیاسی قرار میگیرند،که خود یکی از عوامل موثر برریسک سیستماتیک می باشد، یا می توان گفت اثر نوسانات بازار بر سهام شرکت های دولتی بیشتر خواهد بود. مطابق دیدگاه لیون (2005)، مدیران دولتی از طریق مناسبات سیاسی ریسک مربوط به شرکت را تحت تاثیر قرار میدهند.بنابراین وابستگی دولتی می تواند به عنوان یکی از متغیرهای مهم در مطالعه ریسک مورد توجه قرار بگیرد.نابراین وابستگی دولتی می تواند به عنوان یکی از متغیرهای مهم در مطالعه ریسک مورد توجه قرار بگیرد. | ||
کلیدواژهها | ||
وابستگی دولتی؛ ریسک سیستماتیک شرکت؛ مالکیت نهادی | ||
عنوان مقاله [English] | ||
The Effect of Governmental Affiliation on Systemic Risk of the Companies Listed in Tehran Stock Exchange | ||
نویسندگان [English] | ||
Morteza Bayat1؛ Hasan Zalaghi2؛ Taher Hashemi3 | ||
1shahid beheshti university | ||
2Bo ali sina university | ||
3Institute of Higher education | ||
چکیده [English] | ||
The present study investigates the relationship between governmental affiliation and firm`s systematic risk. In this study, data have been gathered from 76 listed companies in Tehran Stock Exchange from 2005 to 2015 and the research hypothesis has been examined by utilizing the regression coefficient analysis. The results indicate that there is a direct and significant correlation between governmental affiliation and systematic risk. In other words, companies which depend on government may encounter political risk and it can be one of the effective factors on the systematic risk. According to Levine (2005), governmental managers affect the firm`s risk by political decorum. Therefore, governmental affiliation can be used as a significant variable in firm`s risk. | ||
کلیدواژهها [English] | ||
Governmental Affiliation, Firm`s Systematic Risk, Institutional Ownership | ||
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