پیوندهای مفید
آمار
| تعداد نشریات | 21 |
| تعداد شمارهها | 673 |
| تعداد مقالات | 9,831 |
| تعداد مشاهده مقاله | 69,813,521 |
| تعداد دریافت فایل اصل مقاله | 49,173,342 |
The effect of net working capital on the market value of companies listed in the Tehran stock exchange using autoregressive distributed lag (ARDL) | ||
| International Journal of Nonlinear Analysis and Applications | ||
| مقالات آماده انتشار، اصلاح شده برای چاپ، انتشار آنلاین از تاریخ 26 شهریور 1404 اصل مقاله (490.51 K) | ||
| نوع مقاله: Research Paper | ||
| شناسه دیجیتال (DOI): 10.22075/ijnaa.2023.30611.4448 | ||
| نویسنده | ||
| Mahdi Sharafi* | ||
| Department of Accounting, Payame Noor Unvierstiy, Tehran, Iran | ||
| تاریخ دریافت: 18 اسفند 1401، تاریخ پذیرش: 30 اردیبهشت 1402 | ||
| چکیده | ||
| The purpose of this research was to investigate the net effect of working capital on the company's market value. The statistical population of the current research was the companies admitted to the Tehran Stock Exchange between 2011 and 2021, and the samples included 150 companies that have characteristics such as data availability, financial statements, etc. The analysis of corporate financial information was performed by Autoregressive Distributed Lag (ARDL) in the Eviews software environment. The result of the research showed that net working capital has a significant effect on the value of companies listed on the Tehran Stock Exchange. | ||
| کلیدواژهها | ||
| net working capital؛ market value؛ Autoregressive Distributed Lag | ||
| مراجع | ||
|
[1] N. Aktas, E. Croci, and D. Petmezas, Is working capital management value enhancing? Evidence from firm performance and investments, J. Corporate Finance 30 (2015), 98–113. [2] P.M. Almola, The effect of working capital management policies on the profitability and value of industrial companies accepted in the Oman stock market, Int. J. Manag. Finance 3 (2016), no. 2, 164–177. [3] E.F. Andres and K.R. French, The effect of growth opportunities and working capital on the value of companies, J. Finance 53 (2018), no. 3, 819–843. [4] A. Banerjee, J. Dolado, and R. Mestre, Error-correction mechanism tests for cointegration in a single-equation framework, J. Time Ser. Anal. 19 (1998), no. 3, 267–283. [5] H. Ben-Nasr, State and foreign ownership and the value of working capital management, J. Corp. Finance 41 (2016), 217–240. [6] A. Dahiyat, Does liquidity and solvency affect banks profitability? Evidence from listed banks in Jordan, Int. J. Acad. Res. Account. Finance Manag. Sci. 6 (2016), no. 1, 35–40. [7] Z. Dianati Deilami, M. Lotfi, and K Azadbakhsh, The effect of working capital management on reducing the stock price crash risk (Case study: Companies listed in Tehran Stock Exchange), J. Manag. Account. Audit. Knowledge 6 (2020), no. 9, 34–51. [In Persian] [8] I.-M. Haw, S.S.M. Ho, B. Hu, and X. Zhang, The contribution of stock repurchases to the value of the firm and cash holdings around the world, J. Corp. Finance 17 (2011), 152–166. [9] R. Kieschnick, M. Laplante, and R. Moussawi, Working capital management and shareholders’ wealth, Rev. Finance 17 (2013), no. 5, 1827–1852. [10] H.H. Pesaran and Y. Shin, Generalized impulse response analysis in linear multivariate models, Econ. Lett. 58 (1998), no. 1, 17–29. [11] S. Raji, Impact of working capital management on small and medium enterprises’ performance in Nigeria, Arab. J. Bus. Manag. Rev. 7 (2017), no. 1, 1–5. [12] Y.J. Ren, Investigating the effect of working capital management on the value of Swedish companies, J. Multinat. Financ. Manag. 12 (2015), no. 2, 159–169. [13] R. Zeidan and O.M. Shapir, Cash conversion cycle and value-enhancing operations: Theory and evidence for a free lunch, J. Corp. Finance 45 (2017), 203–219. | ||
|
آمار تعداد مشاهده مقاله: 51 تعداد دریافت فایل اصل مقاله: 167 |
||