The Effect of Financial Distress and Market Share on Working Capital Policy with Regard to Market Competition
Abstract:
This study investigates the effect of financial distress and market share on working capital policy with regard to product market competition. For this purpose، the research regression models are examined based on panel data with fixed effects by using data from 122 companies listed on Tehran Stock Exchange for the period of 2007 to 2013. The results suggest that financial distress has an insignificant relationship with working capital requirement، but market share has a significant negative relationship with it. In other words، the firms with high market share will adopt working capital aggressive policy. Furthermore، other results reveal that product market competition does not have a significant effect on the relationship of financial distress and market share with working capital requirement. In fact، it can be concluded that working capital policy is not affected by product market competition. So، market competition like financial distress is not regarded as an important and effective factor on Iranian firm’s working capital policy.
Keywords:
Language:
Persian
Published:
A Quarerly Journal Of Empirical Reasearch Of Financial Accounting, Volume:1 Issue: 3, 2015
Pages:
27 to 48
magiran.com/p1407244
دانلود و مطالعه متن این مقاله با یکی از روشهای زیر امکان پذیر است:
اشتراک شخصی
با عضویت و پرداخت آنلاین حق اشتراک یکساله به مبلغ 1,390,000ريال میتوانید 70 عنوان مطلب دانلود کنید!
اشتراک سازمانی
به کتابخانه دانشگاه یا محل کار خود پیشنهاد کنید تا اشتراک سازمانی این پایگاه را برای دسترسی نامحدود همه کاربران به متن مطالب تهیه نمایند!
توجه!
- حق عضویت دریافتی صرف حمایت از نشریات عضو و نگهداری، تکمیل و توسعه مگیران میشود.
- پرداخت حق اشتراک و دانلود مقالات اجازه بازنشر آن در سایر رسانههای چاپی و دیجیتال را به کاربر نمیدهد.
In order to view content subscription is required
Personal subscription
Subscribe magiran.com for 70 € euros via PayPal and download 70 articles during a year.
Organization subscription
Please contact us to subscribe your university or library for unlimited access!