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:: year 7, Issue 25 (2015) ::
quarterly financial accounting journal 2015, 7(25): 29-48 Back to browse issues page
Financing Constraints and firm Growth
Shokrollah Khajavi Dr *1, Mohsen Salhinia Mr1
1- shiraz university, shiraz university
Abstract:   (9360 Views)
In the present environment in which firms operate is growing and competitive environment. And in order to progress and growth, they need to expand their operations through new investment. New investments require capital financing and cash but the firm in providing this resource is usually faced with limitations. Hence, this study examines the relationship between financial constraints and growth of 173 companies listed in Tehran Stock Exchange during the period 1381 to 1390. Multiple linear regression analysis was used to test the research hypotheses. The results show that there is a negative significance relationship between financing constraints and asset growth and sales growth as firm growth indices. In other words, the companies that have Cash balances, cash dividends and less Tobin Q index and on the other hand have the their leverage ratio are larger, they have Less growth. There is also direct relationship between firm size and firm growth and an inverse relationship between the ratio of dividends to total assets and firm growth.
Keywords: Financing Constraints, firm Growth, Sales growth and asset growth.
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Type of Study: Research | Subject: Special
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khajavi S, salhinia M. Financing Constraints and firm Growth. quarterly financial accounting journal. 2015; 7 (25) :29-48
URL: http://qfaj.ir/article-1-339-en.html


year 7, Issue 25 (2015) Back to browse issues page
فصلنامه حسابداری مالی Quarterly Financial Accounting
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