Empirical Investigation on the Effect of Capital Structure and Board Compensation on Investment Efficiency
This study investigates the effect of capital structure on board compensation and investment efficiency in Tehran stock exchange. To measure the capital structure, the ratio of total debt to total assets is used, and to measure the investment efficiency Biddle et al.’s model is applied. To test the...
| Main Authors: | , , |
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| Format: | Article |
| Language: | fas |
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Alzahra University
2015-12-01
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| Series: | پژوهشهای تجربی حسابداری |
| Subjects: | |
| Online Access: | http://jera.alzahra.ac.ir/article_2111_9d7d2c429665a63f4c79ae68dccbfc48.pdf |
| _version_ | 1818673137286381568 |
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| author | ali asghar anvary rostami Elnaz Tajvidi meysam jahangard |
| author_facet | ali asghar anvary rostami Elnaz Tajvidi meysam jahangard |
| author_sort | ali asghar anvary rostami |
| collection | DOAJ |
| description | This study investigates the effect of capital structure on board compensation and investment efficiency in Tehran stock exchange. To measure the capital structure, the ratio of total debt to total assets is used, and to measure the investment efficiency Biddle et al.’s model is applied. To test the hypothesis, data from 115 companies listed in Tehran Stock Exchange in the period from 2009 to 2013 is collected and multivariate regression model based on fixed effects is applied. The results indicate that the capital structure has a positive and significant impact on the board compensation. Moreover, the results show that there is a significant relationship between the board compensation and investment efficiency. |
| first_indexed | 2024-12-17T07:51:00Z |
| format | Article |
| id | doaj.art-9bad870e0ce5454d948255f6c29fdd16 |
| institution | Directory Open Access Journal |
| issn | 2251-8509 2538-1520 |
| language | fas |
| last_indexed | 2024-12-17T07:51:00Z |
| publishDate | 2015-12-01 |
| publisher | Alzahra University |
| record_format | Article |
| series | پژوهشهای تجربی حسابداری |
| spelling | doaj.art-9bad870e0ce5454d948255f6c29fdd162022-12-21T21:57:51ZfasAlzahra Universityپژوهشهای تجربی حسابداری2251-85092538-15202015-12-015210913010.22051/jera.2015.21112111Empirical Investigation on the Effect of Capital Structure and Board Compensation on Investment Efficiencyali asghar anvary rostami0Elnaz Tajvidi1meysam jahangard2استاد گروه حسابداری دانشگاه تربیت مدرساستادیار حسابداری دانشگاه شهیدبهشتیکارشناس ارشد حسابداری دانشگاه خوارزمیThis study investigates the effect of capital structure on board compensation and investment efficiency in Tehran stock exchange. To measure the capital structure, the ratio of total debt to total assets is used, and to measure the investment efficiency Biddle et al.’s model is applied. To test the hypothesis, data from 115 companies listed in Tehran Stock Exchange in the period from 2009 to 2013 is collected and multivariate regression model based on fixed effects is applied. The results indicate that the capital structure has a positive and significant impact on the board compensation. Moreover, the results show that there is a significant relationship between the board compensation and investment efficiency.http://jera.alzahra.ac.ir/article_2111_9d7d2c429665a63f4c79ae68dccbfc48.pdfCapital Structureboard compensation and investment efficiency |
| spellingShingle | ali asghar anvary rostami Elnaz Tajvidi meysam jahangard Empirical Investigation on the Effect of Capital Structure and Board Compensation on Investment Efficiency پژوهشهای تجربی حسابداری Capital Structure board compensation and investment efficiency |
| title | Empirical Investigation on the Effect of Capital Structure and Board Compensation on Investment Efficiency |
| title_full | Empirical Investigation on the Effect of Capital Structure and Board Compensation on Investment Efficiency |
| title_fullStr | Empirical Investigation on the Effect of Capital Structure and Board Compensation on Investment Efficiency |
| title_full_unstemmed | Empirical Investigation on the Effect of Capital Structure and Board Compensation on Investment Efficiency |
| title_short | Empirical Investigation on the Effect of Capital Structure and Board Compensation on Investment Efficiency |
| title_sort | empirical investigation on the effect of capital structure and board compensation on investment efficiency |
| topic | Capital Structure board compensation and investment efficiency |
| url | http://jera.alzahra.ac.ir/article_2111_9d7d2c429665a63f4c79ae68dccbfc48.pdf |
| work_keys_str_mv | AT aliasgharanvaryrostami empiricalinvestigationontheeffectofcapitalstructureandboardcompensationoninvestmentefficiency AT elnaztajvidi empiricalinvestigationontheeffectofcapitalstructureandboardcompensationoninvestmentefficiency AT meysamjahangard empiricalinvestigationontheeffectofcapitalstructureandboardcompensationoninvestmentefficiency |