The Study of The Effect of Macroeconomic Variables on Capital Structure in Iran's Capital Market during 2007-2013

In this research, the inflation rate, liquidity, bank interest rate and exchange rate (the replacement for the dollar) are referred to as economic variables and their impact on the structure of capital, which is the ratio of debt in companies, is has been investigated . The method and nature of the present research is a type of correlation study research and a combination of data approach has been used for analyzing research data and estimating models, a combination of data approach has been used. The results of this study indicate that three variables of inflation rate, exchange rate and liquidity volume have a significant effect on capital structure, but interest rate does not have a significant effect on capital structure. It is concluded that changes in interest rates do not change the debt ratio and the two variables, inflation rate and the volume of liquidity have a negative effect on the structure of capital. Hence, financial managers will pay special attention to the effects of changes in the inflation rate on the capital structure and the positive effects of the exchange rate when deciding the financials and combining the required cash resources, and study the change process made in these variables.