dentifying the Factors Affecting the Financial Risks of Companies Using the Structural Equations Approach

The purpose of this study is to investigate the mediating role of the cost stickiness in the relationship between intangible assets and the purpose of this paper was to identify the factors affecting the financial risks of companies by considering the effects of fluctuations of those factors and sel...

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Main Authors: saman tavakoli, Ali Ashtab
Format: Article
Language:fas
Published: University of Isfahan 2021-06-01
Series:Journal of Asset Management and Financing
Subjects:
Online Access:https://amf.ui.ac.ir/article_25954_2d2ab7a55655f46ce1435ca6baec92a9.pdf
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author saman tavakoli
Ali Ashtab
author_facet saman tavakoli
Ali Ashtab
author_sort saman tavakoli
collection DOAJ
description The purpose of this study is to investigate the mediating role of the cost stickiness in the relationship between intangible assets and the purpose of this paper was to identify the factors affecting the financial risks of companies by considering the effects of fluctuations of those factors and selecting the selected variables. In this study, the information of 145 listed companies at Tehran Stock Exchange during 2011-2020 was used. Also, to analyze the findings, the structural equations modeling approach and 31 variables, including financial ratio, size factor, company growth, and competitive strategy, were utilized together and simultaneously. The results showed that 58.6% of financial risks were explained by fluctuations in the research variables. Also, by using the load factor values and beta coefficient test, the accrued financial ratios, such as net profit margin, operating profit margin, asset turnover period, accumulated profit-to-asset ratio, current ratio, and cash ratio, as well as cash financial ratios, including the ratio of operating cash flow to total assets and the ratio of operating cash flow to long-term liabilities, were found to be of particular importance. In addition, by using the t-test, the effects of financial ratios, firm size, growth factors, and competitive strategies on financial risks were observed to be significant.
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spelling doaj.art-3249b4efb57e43c5a6f3a681626a88b92022-12-22T00:36:48ZfasUniversity of IsfahanJournal of Asset Management and Financing2383-11892021-06-0192779810.22108/amf.2021.127996.164725954dentifying the Factors Affecting the Financial Risks of Companies Using the Structural Equations Approachsaman tavakoli0Ali Ashtab1Department of Accounting, Faculty of Economics and Management, Urmia University, Urmia, IranAssistant Professor, Department of Accounting, Faculty of Economics and Management, Urmia University, Urmia, IranThe purpose of this study is to investigate the mediating role of the cost stickiness in the relationship between intangible assets and the purpose of this paper was to identify the factors affecting the financial risks of companies by considering the effects of fluctuations of those factors and selecting the selected variables. In this study, the information of 145 listed companies at Tehran Stock Exchange during 2011-2020 was used. Also, to analyze the findings, the structural equations modeling approach and 31 variables, including financial ratio, size factor, company growth, and competitive strategy, were utilized together and simultaneously. The results showed that 58.6% of financial risks were explained by fluctuations in the research variables. Also, by using the load factor values and beta coefficient test, the accrued financial ratios, such as net profit margin, operating profit margin, asset turnover period, accumulated profit-to-asset ratio, current ratio, and cash ratio, as well as cash financial ratios, including the ratio of operating cash flow to total assets and the ratio of operating cash flow to long-term liabilities, were found to be of particular importance. In addition, by using the t-test, the effects of financial ratios, firm size, growth factors, and competitive strategies on financial risks were observed to be significant.https://amf.ui.ac.ir/article_25954_2d2ab7a55655f46ce1435ca6baec92a9.pdfcompetitive strategyfinancial ratiofinancial riskstructural equations modeling
spellingShingle saman tavakoli
Ali Ashtab
dentifying the Factors Affecting the Financial Risks of Companies Using the Structural Equations Approach
Journal of Asset Management and Financing
competitive strategy
financial ratio
financial risk
structural equations modeling
title dentifying the Factors Affecting the Financial Risks of Companies Using the Structural Equations Approach
title_full dentifying the Factors Affecting the Financial Risks of Companies Using the Structural Equations Approach
title_fullStr dentifying the Factors Affecting the Financial Risks of Companies Using the Structural Equations Approach
title_full_unstemmed dentifying the Factors Affecting the Financial Risks of Companies Using the Structural Equations Approach
title_short dentifying the Factors Affecting the Financial Risks of Companies Using the Structural Equations Approach
title_sort dentifying the factors affecting the financial risks of companies using the structural equations approach
topic competitive strategy
financial ratio
financial risk
structural equations modeling
url https://amf.ui.ac.ir/article_25954_2d2ab7a55655f46ce1435ca6baec92a9.pdf
work_keys_str_mv AT samantavakoli dentifyingthefactorsaffectingthefinancialrisksofcompaniesusingthestructuralequationsapproach
AT aliashtab dentifyingthefactorsaffectingthefinancialrisksofcompaniesusingthestructuralequationsapproach