The aim of this paper is to investigate the impact of macroeconomics conditions on Financing Decisions of Companies listed in Tehran stock exchange (TSE). For this purpose, data from 274 companies for 12 years period between the years 1999 to 2010 were used. Before estimating the model, unit root and cointegration test was performed and the results confirm the existence of stationary of all variables. The method of using panel data regression model was fitted to the case. Result shows that exchange rate have significantly positive and interest rate significantly negative impact on corporate Financing Decisions. The results also showed that inflation and money supply growth rate have no significant effect on corporate financing decisions.
Dastgir M, Khodadadi V, Hajizadeh S. The Impact of Macroeconomics Variables on Corporate Financing Decisions. 3 2012; 2 (1) :1-28 URL: http://mta.raja.ac.ir/article-1-59-en.html
