An Investigating the Relationship between Export Tax Exemption and Corporate Capital Structure (Case Study: Export-Oriented Companies Listed on Tehran Stock Exchange)

Today, paying attention to the company's capital structure and financing through debt is of special importance that managers pay attention to, especially in times of financial and economic crisis, helping to increase the company's performance by managers is one of the decisions that are considered today; Therefore, it is expected that export tax rebates or export exemptions can be effective in the company's capital structure and financing. The aim of this study was to determine the relationship between export tax exemption and the capital structure of companies (Case study: export-oriented companies listed on the Tehran Stock Exchange). In order to analyze the research hypotheses, the statistical population was selected from 2012 to 2019 for 8 years and included listed companies. The statistical sample was selected by elimination method and 82 companies were selected. The research method used is descriptive-analytical method and historical research data were collected and classified by referring to the financial statements and financial reports of companies listed on the Tehran Stock Exchange. Data panel data method was used to analyze statistical data; In the analysis section, descriptive and inferential statistics and various related tests were performed and data analysis was performed using Eviews version 9 software. According to the analysis of the regression model, the research findings show that the main hypothesis has been confirmed and it was found that there is a significant relationship between export tax exemption and capital structure of export-oriented companies listed on the Tehran Stock Exchange. All four special hypotheses on the capital structure of the company in the export tax exemption index through financing for fixed asset investments of 5.24, export tax exemption through financial cost smoothing of 3.49, export tax exemption through reduction of domestic financing 6.95 and export tax exemption through performance improvement (total factor productivity, profitability, labor productivity) of the company is 5.67 that managers should pay attention to all four indicators to improve the company's capital structure and with research Zhang in 2021 is aligned and consistent.