نوع مقاله : مقاله پژوهشی
نویسندگان
1 دانشجوی دوره کارشناسی ارشد حسابداری دانشگاه آزاد اسلامی واحد تهران مرکزی
2 استادیار و عضو هیات علمی گروه حسابداری دانشگاه آزاد اسلامی واحد تهران مرکزی (نویسنده مسئول)
چکیده
کلیدواژهها
عنوان مقاله [English]
نویسندگان [English]
one the main routes of financing may affect the value company debt, tax advantage Increase the value company that created and the of bankruptcy costs debt the financial crisis on the other non-fulfillment of obligations that debt, The benefits under the covers. This study was to determine the gap between actual and optimal leverage bankruptcy of risk (with the partial adjustment model). Study using multiple regression and time series data for the period 1386-1391 and active participation in the Tehran Stock Exchange. the determine gap between actual and optimal financial leverage and impact of default risk and leverage levels, the deviation used of the partial adjustment model.
The results indicate that research first hypothesis that there is a gap between actual and Optimal financial leverage, the surveyed companies, on average, ٥٤% the three gap between actual and optimal financial leverage. The results of testing indicate that the high financial health of companies, On average, 38% of the gap between actual and optimal financial leverage, on average, companies with the financial crisis there 68% In other, Companies with financial crises are longer path to reach their optimum leverage Than firms that are better than the economic and financial situation.
کلیدواژهها [English]