Effect of Capital Structure on Cumulative Abnormal Returns in the Companies Listed in T.S.E
Journal Title: International Journal of Advanced Studies in Humanities and Social Science - Year 2014, Vol 3, Issue 0
Abstract
Finance and capital structure is determined by one of the most important tasks of financial management and plays an essential role in determining firm value the company's main objective is to maximize shareholder wealth. This study examines the impact of capital structure on cumulative abnormal returns in listed companies in Tehran Stock Exchange. This study will try to finance companies and how it affects abnormal returns, obtained information. In total, 121 companies were selected from various industries between the years 1380-1390. Data collected from this study are analyzed using a theoretical model proposed software Eviews. In statistical analysis was performed the aim is to examine the relationship between cumulative abnormal returns and the factors presented in series of cross-sectional periods of time. Statistical analysis will be used to test the significance of the Pearson correlation coefficient, Hausman test, Panels, D-W and test F (Fisher) and t. The results indicate that capital structure does not significantly affect the cumulative abnormal returns.
Authors and Affiliations
Ehsan Ajami, Mohammad Reza Pourali
Keywords
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