The Relationship Between Modern Indexes for the Evaluation of the Financial Performance with Working Capital of Companies Accepted in Tehran Stock Exchange

Investors always seek to maximize their wealth by taking different assessments of the status of the company, and they consider various factors such as performance and corporate status in the short and long term. Therefore, measuring performance in the decision making process with respect to the development and importance of the role of capital market is one of the most important issues in the financial and economic field. The purpose of this research is to investigate the relationship between the new indicators of financial performance evaluation and working capital of listed companies in Tehran Stock Exchange. The statistical population of this study is all companies accepted in Tehran Stock Exchange, in which 98 companies were selected as an example for a period of 8 years from the beginning of 2009 to the end of 2016 using a targeted sampling method. In the hypothesis test, for data analysis, the regression model of the data panel with random effects method was used with E-views software at 95% confidence level. Research findings indicate that there is a positive and significant relationship between market value added and working capital and between cash value added and working capital, while there is no significant relationship between economic value added and working capital.