Determination of the relationship between new financing instruments and the capital structure and the profitability of companies
Determination of the relationship between new financing instruments and the capital structure and the profitability of companies
Ali Nemati1 Zahra Lashgari2 Seyyed Masoomeh Poorbagher Kordi3
1) Faculty Member of Department of Accounting Central Tehran Branch, Islamic Azad University, Tehran, Iran
2) Department of accounting, Assistant Professor, Central Tehran Branch, Islamic Azad University, Tehran, Iran
3) Central Tehran Branch, Islamic Azad University, Tehran, Iran
Publication :
3rd.International Conference on Modern Research’s in Management,Economics & Accounting(3meaconf.com)
Abstract :
The aim of this research is to determine the relationship between new financing instruments and the capital structure and the profitability of companies. In this study, a descriptive - analytical method is used with the functional approach. In this study, the research hypotheses will be responded by considering the information extracted from the financial statements of the listed companies in Tehran Stock Exchange during the years 2007 to 2013. The sample of the survey consists of 300 companies. The required instruments to collect data are all databases such as books, newspapers, journals, theses , documented and reliable sites in the theoretical section , and financial statement tools in the statistical analysis section. In this study, according to the existing data, the available information is examined by using panel data method and regression models. In this research, the relationship between sukuk, participation securities, certificate of deposit for investment , land and buildings investment fund, as the independent variable and capital structure and profitability as the dependent variable are investigated . the results indicate that sukuk, certificate of deposit for investmentand land and buildings investment fund have a positive and significant relationship with capital structure. participation securities have a negative and significant relationship with capital structure and probability.
Keywords :
Sukuk
participation securities
certificate of deposit for investment
land and building investment fund
capital structure
profitability