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رقابت در بازار محصول و تأثیر آن بر سه معیار مهم در تصمیمگیری؛ هزینه نمایندگی، ساختار سرمایه و هزینه سرمایه | ||
حسابداری و منافع اجتماعی | ||
مقاله 5، دوره 7، شماره 1 - شماره پیاپی 24، فروردین 1396، صفحه 67-84 اصل مقاله (1.34 M) | ||
نوع مقاله: مقاله ترویجی | ||
شناسه دیجیتال (DOI): 10.22051/ijar.2017.7722.1028 | ||
نویسندگان | ||
سحر سپاسی* 1؛ مرتضی کاظمپور2؛ منور شعبانی مازوئی3 | ||
1استادیار گروه حسابداری، دانشگاه تربیتمدرس | ||
2دانشجوی دکتری حسابداری، دانشگاه تهران | ||
3کارشناس ارشد مدیریت مالی، دانشگاه مازندران | ||
چکیده | ||
چکیده: رقابت در بازار محصول میتواند روی بسیاری از عوامل مطرح در شرکت اثرگذار باشد و با این اثرگذاری نقش بسیار پررنگی را در تصمیمگیری مدیران و سرمایهگذاران ایفا کند. از این رو، هدف پژوهش حاضر بررسی تأثیر رقابت در بازار محصول بر سه معیار مهم در تصمیمگیری یعنی هزینه نمایندگی، ساختار سرمایه و هزینه سرمایه شرکتهای پذیرفته شده در بورس اوراق بهادار تهران است. برای اندازهگیری رقابت در بازار محصول از شاخص هرفیندال – هیرشمن و هزینه نمایندگی از نسبت گردش داراییها، ساختار سرمایه از نسبت بدهی به جمع کل داراییها و هزینه سرمایه از میانگین موزون هزینه سرمایه استفاده شده است. پس از بررسی 90 شرکت در بازه زمانی 1388 تا 1393 (540 سال – شرکت) نتایج نشان میدهند که رقابت در بازار محصول بر هزینه نمایندگی و هزینه سرمایه تأثیر منفی و معناداری میگذارد امّا بین رقابت در بازار محصول و ساختار سرمایه رابطه معناداری وجود ندارد. | ||
کلیدواژهها | ||
رقابت در بازار محصول؛ هزینه نمایندگی؛ هزینه سرمایه؛ ساختار سرمایه | ||
عنوان مقاله [English] | ||
Product Market Competition and Its Effect on Three Important Criteria in Decision Making, Agency Cost, Capital Structure and the Cost of Capital | ||
نویسندگان [English] | ||
Sahar Sepasi1؛ Morteza Kazempour2؛ Monavar Shabani Mazoei3 | ||
1Assistant Professor of Accounting, Tarbiat Modares University | ||
2Ph.D. Student of Accounting, University of Tehran | ||
3Master of Financial Management, Mazandaran University | ||
چکیده [English] | ||
Abstract is as below: Abstract is as below: Abstract is :Product market competition can have effect on many factors in the company and this affect perform significant role in Managers and investors' decision making. Therefore, the present study examines how product market competition effect the Agency cost, capital structure and cost of capital corporations in Tehran Stock Exchange. The researcher has used Herfindhal-Hirschman index to measure product market competition, Agency cost of turning assets ratio, capital structure as the total debts to total assets and the cost of capital was calculated using the weighted average cost of capital. After investigating the hypothesis of the research at the period of 1388 to 1393, the number of 90 companies was evaluated. The results show that there is a negative relationship between product market competition, capital structure and the cost of capital. but there is no relationship between product market competition and capital structure. | ||
کلیدواژهها [English] | ||
Product Market Competition, Agency cost, Cost of Capital, Capital Structure | ||
مراجع | ||
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Master's Thesis, University of Esfahan. [In Persian] | ||
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