Investigating the effect of institutional investors ratio, financial constraints, stock market liquidity and volatility of stock prices on sales growth rate in companies admitted to Tehran Stock Exchange

The purpose of this study is to investigate the effect of institutional investors ratio, financial constraints, stock market liquidity and volatility of stock prices on the growth rate of corporate sales. This research is library and analytical-Causality research and is based on the analysis of panel data (data panel). In this study, the financial information of 106 companies listed in Tehran Stock Exchange during the period from 2009 to 2014 has been investigated (636 companies - year). To analyze the results of the study, 22 Spss, Eviews 8.1 and Minitab 17.1 have been used. The results of the research in relation to confirmation of the first hypothesis of the research showed that there is a significant and direct relation between the ratio of institutional investors and the growth rate of sales of companies. Also, according to the analyzes carried out in relation to the confirmation of the second hypothesis of the research, we concluded that there is a significant and inverse relation between financial constraints and the growth rate of sales of companies. In the following, the results of the research regarding the confirmation of the third hypothesis of the research showed that there is a significant and direct relationship between stock market liquidity and sales growth of companies, and finally, according to the analyzes carried out in connection with the confirmation of the fourth hypothesis of research We concluded that there is a meaningful and direct relationship between stock price volatility and the growth rate of sales of companies.