نوع مقاله : مقاله پژوهشی
1 دانشجوی دکتری اقتصاد دانشگاه آزاد اسلامی واحد تهران جنوب
2 دکترای حسابداری، دانشگاه تهران، معاونت اقتصادی سازمان تامین اجتماعی نیروهای مسلح جمهوری اسلامی ایران
عنوان مقاله [English]
This article examines the factors affecting the profitability and fixed assets of 110 stock market companies over a five-year period (2012-2013), with emphasis on their financing method. The independent variables are “cost of debt financing”, “cost of equity financing”, “company size”, “debt financing”, “equity financing”, and the dependent variables are “fixed assets” and “profitability indices” which the relation between these variables are estimated separately. In the first model, the effect of company size, fixed assets, debt financing and equity financing on profitability of the company is studied, and in the second model, the impact of company size, cost of debt financing and cost of equity financing on fixed assets of the company are examined. In order to investigate these relationships, the unit root test of variables was used to prevent spurious regression and the software used in this study is Eviews. The results show that in the first model the relationship between profitability and debt financing is negative and statistically significant, but there is no significant relationship between profitability and equity financing. In the second model, the relationship between fixed assets and the cost of debt and equity financing is positive and significant. Also, firm size was not significant in either model.