The Effect of Business risk management and Life Cycle on Debt Capacity of the Companies Listed in Tehran Stock Exchange

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Article Type:
Research/Original Article (دارای رتبه معتبر)
Abstract:
Increasing the debt capacity leads to improving the company's financial flexibility. Financial flexibility plays an important role in the financial empowerment of the company regarding investment in the future, which is important to maintain flexibility according to the existing risks, which is possible with risk management. The current research aims to track the effect of business risk management and life cycle on the debt capacity of the companies listed in the Tehran Stock Exchange. In this regard, a sample of 124 companies from the Tehran Stock Exchange along a period of 2012-2021 were selected as sample and the research hypotheses were tested with aide of multiple linear regressions based on pooled data. The results showed that business risk management has a positive effect on the debt capacity of companies, and this business risk management effect during the recession stages of the life cycle of companies is more dominant. As expected, in the conditions of better use of business risk management mechanisms, the debt capacity of companies has also improved significantly. With better applying of risk management mechanisms, the reliability of loans and creditors to the company is increased too and as a result, the company's debt capacity is also improved.
Language:
Persian
Published:
Financial Management Perspective, Volume:13 Issue: 42, 2023
Pages:
145 to 171
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