Investigating the Effect of Financial Leverage on the Investment of Firm’s Accepted in Tehran Stock Exchange

The present study seeks to investigate the effect of financial leverage on the investments of companies listed on the Tehran Stock Exchange. The statistical population of the study was all companies listed on the Tehran Stock Exchange during the years 1391 to 1396. After applying the limitations of research and sampling by systematic elimination method, 168 companies were selected as a statistical sample. In order to test the research hypotheses, regression methods have been used. The results of the first hypothesis of the research show that financial leverage has a negative and significant effect on companies' investments. Also, the findings of the second hypothesis of the research indicate that the impact of financial leverage on investment in companies with high growth opportunities is less than companies with low growth opportunities.