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The investigation of debt maturity structure and ownership structure in Tehran Stock Exchange
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Zohre Hajiha   , Hasan Ali Akhlaghi |
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Abstract: (2174 Views) |
The main objective of this research is to review and analyze the relationship between ownership structure and debt maturity among listed companies in Tehran Stock Exchange. Hence, we investigated debt maturity structure as dependent variable and the percentage of major stockholder along with the percentage of managerial ownership as ownership structure measures and independent variables. In order to examine research hypotheses multivariate regression through pool data and financial measures of 75 sample companies during the period 2001- 2009 have been used. The research findings imply that there is no significant relationship between debt maturity structure and the percentage of major stockholder; however, there is a positive relationship between debt maturity structure and the percentage of managerial ownership. Additionally, hypotheses testing among Chemical, Drug, Food, Automobile and Cement Industries resulted in various findings.
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| Keywords: debt maturity structure, major stockholder, managerial ownership, panel data. |
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Full-Text [PDF 324 kb]
(73 Downloads)
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Type of Study: Research |
Subject:
General
Received: 2011/06/26 | Accepted: 2011/10/14 | Published: 2011/09/23
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