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قدرت مدیر عامل و ساختار سرمایه مبتنی بر مدل لی | ||
حسابداری و منافع اجتماعی | ||
مقاله 1، دوره 9، شماره 1 - شماره پیاپی 32، فروردین 1398، صفحه 1-20 اصل مقاله (1.5 M) | ||
نوع مقاله: مقاله پژوهشی | ||
شناسه دیجیتال (DOI): 10.22051/ijar.2019.20896.1411 | ||
نویسندگان | ||
فریدون رهنمای رودپشتی1؛ اناهیتا زندی* 2 | ||
1استاد گروه حسابداری، دانشگاه آزاد اسلامی واحد علوم و تحقیقات تهران، تهران، ایران، | ||
2دانشجوی دکترای گروه حسابداری، دانشکده علوم انسانی، واحد سمنان، دانشگاه آزاد اسلامی، سمنان، ایران، | ||
چکیده | ||
این مطالعه، به بررسی تأثیر قدرت مدیر عامل بر روی اهرم مالی شرکتها با استفاده از یک نمونه شامل 150 شرکت پذیرفته شده در بورس اوراق بهادار تهران در طی دوره 1389 تا 1396 پرداخت. به طور اخص، این مطالعه درصدد بررسی رابطه بین قدرت مدیریت ارشد اجرایی و اهرم مالی بر اساس تئوری نمایندگی است. برای اندازه گیری شاخص قدرت مدیر عامل از یک شاخص مبتنی بر ویژگیهای چهار متغیر قدرت مرتبط با هم استفاده گردید، سپس از روش OLS برای برآورد رگرسیون استفاده شد. نتایج نشان داد که هرچقدر قدرت مدیرعامل افزایش پیداکند به همان نسبت ساختار سرمایه شرکتها و نسبت اهرم مالی در جهت منفی حرکت خواهد کرد. و باعث کاهش بدهی در ساختار سرمایه شرکتها خواهد شد. | ||
کلیدواژهها | ||
قدرت مدیر ارشد اجرایی؛ ساختار سرمایه؛ اهرم مالی | ||
عنوان مقاله [English] | ||
CEO's power and capital structure based on Lee's model | ||
نویسندگان [English] | ||
Fereydoun Rahnama roodposhti1؛ annahita zandi2 | ||
1Professor of Accounting،Islamic Azad University, Science and Research Branch, Tehran | ||
2account | ||
چکیده [English] | ||
This study examines the effect of CEO's power on corporate leverage by using a sample of 150 listed companies in Tehran Stock Exchange during the period from 2010 to 2017. In particular, this study seeks to investigate the relationship between the power of senior management and financial leverage based on the theory of Agency. To measure the CEO's power index, an index based on the characteristics of four power-related power variables was used, then OLS method was used for estimating regression. The results showed that as CEO increases, the corporate capital structure and the leverage ratio will move in the negative direction and will reduce debt in the corporate capital structure. | ||
کلیدواژهها [English] | ||
CEO power, Capital Structure, Leverage | ||
مراجع | ||
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