FACTORS EFFECTING OF LIQUIDITY LEVEL IN ACCEPTED COMPANIES OF TEHRAN STOCK EXCHANGE
Keywords:
liquidity, effective factors, the maintenance of cash holdings, the multivariate linear regression.Abstract
Financial institutions preserve a significant percentage of their assets in cash. Actually, the issue has drawn the attention of researchers regarding the factors affecting the preservation of these assets. The present study investigates the impact of companies’ financial structure on the liquidity of companies listed in Tehran stock exchange; in other words, it is attempted to assess whether the companies’ size, market value, fixed assets structure, sales, financial leverage, dividend and firm's life affect the amount of liquidity in companies listed in Tehran stock exchange.
For this purpose, the data of financial statements related to the end of audited courses of companies listed in Tehran stock exchange for the period of 2007-2013 have been assessed using the multivariate linear regression model. The results of this study show that the companies’ size, market value, fixed assets structure, sales, and life positively affect the amount of liquidity in companies listed in stock exchange. According to the restrictions imposed on the basis of conducted surveys, 52 companies were selected from the active companies accepted in the Tehran Stock Exchange that continuously attended there. Order to data collection in the field of theoretical foundations and research literature on the topic has been used for library resources, articles, the required books and also from the global network of information. Financial data extracted from the audited financial statements contained in the Website of management of research, development and Islamic studies at stock exchange organization and Tadbirpardaz the Rahavard-e Nonin software and documents in the Library of the Tehran Stock Exchange. The collected data was calculated using Excel software and analyzed using SPSS software.
The evidence showed that the structure of fixed assets, sales rate and financial leverage has a positive impact on the cash of companies listed on the stock exchange.
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