STUDY OF THE RELATIONSHIP BETWEEN OVERINVESTMENT, LEVERAGE, AND LIQUIDITY IN COMPANIES LISTED IN TEHRAN STOCK EXCHANGE

Gênero & Direito Pub Date : 2020-02-24 DOI:10.22478/ufpb.2179-7137.2020v9n2.50822

Elahe Rostami khanghah, B. Partovi

{"title":"STUDY OF THE RELATIONSHIP BETWEEN OVERINVESTMENT, LEVERAGE, AND LIQUIDITY IN COMPANIES LISTED IN TEHRAN STOCK EXCHANGE","authors":"Elahe Rostami khanghah, B. Partovi","doi":"10.22478/ufpb.2179-7137.2020v9n2.50822","DOIUrl":null,"url":null,"abstract":"This study was conducted aimed at examining the effect of companies’ liquidity and leverage on their overinvestment. Surplus liquidity can affect the financial behavior of companies and accompany them in generating overinvestment in projects. Likewise, the increase in capital of the companies can play a significant role in increasing their leverage. This study sought to answer two main questions: 1) what effect does companies’ leverage have on overinvestment in projects, and 2) what effect does companies’ liquidity have on the relationship between leverage and overinvestment? In this causal-comparative study, the analysis was performed on the basis of panel data and multiple linear regression. Data from 118 companies was collected during 2013-2017. Data analysis and hypothesis testing were performed using EXEL and EVIEWS software. According to the findings, there was a significant relationship between companies’ liquidity and leverage with overinvestment. In addition, the results indicated that companies’ liquidity had no effect on the relationship between leverage and overinvestment","PeriodicalId":425856,"journal":{"name":"Gênero & Direito","volume":"45 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2020-02-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Gênero & Direito","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.22478/ufpb.2179-7137.2020v9n2.50822","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}

引用次数: 0

Abstract

This study was conducted aimed at examining the effect of companies’ liquidity and leverage on their overinvestment. Surplus liquidity can affect the financial behavior of companies and accompany them in generating overinvestment in projects. Likewise, the increase in capital of the companies can play a significant role in increasing their leverage. This study sought to answer two main questions: 1) what effect does companies’ leverage have on overinvestment in projects, and 2) what effect does companies’ liquidity have on the relationship between leverage and overinvestment? In this causal-comparative study, the analysis was performed on the basis of panel data and multiple linear regression. Data from 118 companies was collected during 2013-2017. Data analysis and hypothesis testing were performed using EXEL and EVIEWS software. According to the findings, there was a significant relationship between companies’ liquidity and leverage with overinvestment. In addition, the results indicated that companies’ liquidity had no effect on the relationship between leverage and overinvestment

查看原文本刊更多论文

德黑兰证券交易所上市公司过度投资、杠杆和流动性关系研究

本研究旨在考察公司流动性和杠杆对其过度投资的影响。流动性过剩会影响企业的财务行为，并伴随企业对项目产生过度投资。同样，公司资本的增加可以在增加其杠杆率方面发挥重要作用。本研究试图回答两个主要问题:1)公司杠杆对项目过度投资有何影响;2)公司流动性对杠杆与过度投资关系有何影响?在本因果比较研究中，采用面板数据和多元线性回归进行分析。2013-2017年期间收集了118家公司的数据。采用EXEL和EVIEWS软件进行数据分析和假设检验。研究发现，企业流动性和杠杆率与过度投资之间存在显著关系。此外，研究结果表明，公司流动性对杠杆与过度投资的关系没有影响

本文章由计算机程序翻译，如有差异，请以英文原文为准。

求助全文

约1分钟内获得全文求助全文

来源期刊

Gênero & Direito

自引率

0.00%

发文量