نوع مقاله : مقاله پژوهشی

نویسنده

گروه حسابداری و کنترل، دانشگاه اراسموس، روتردام، هلند.

چکیده

هدف این پژوهش، بررسی تاثیر اهرم مالی و رقابت محصول بر ریسک درماندگی مالی با پیامدهای ساختار سرمایه در حضور هزینه نمایندگی است. به این منظور اطلاعات شرکت‌ها در فاصلۀ زمانی 9 ساله از 1392 تا 1400 بررسی و 113 شرکت انتخاب شد. به منظور آزمون فرضیه‌های پژوهش از روش رگرسیون چند متغیره بر مبنای روش تحلیل لجستیک با استفاده از نرم افزار  Eviews صورت گرفته است. نتایج حاکی ازآن است که اهرم مالی بر ریسک درماندگی مالی تاثیر U معکوس و رقابت محصول بر ریسک درماندگی مالی تاثیر U شکل دارد. اهرم مالی بر رابطه رقابت محصول بر ریسک  درماندگی مالی در صورت وجود هزینه نمایندگی اثر معنادار ندارد.

کلیدواژه‌ها

عنوان مقاله [English]

The effect of financial leverage and product competition on the risk of financial helplessness: implications of capital structure in the presence of agency cost

نویسنده [English]

  • Azadeh Shemshad

Department of Accounting and Control, Erasmus University, Rotterdam, Netherlands.

چکیده [English]

The purpose of this research is to investigate the effect of financial leverage and product competition on the risk of financial helplessness with the consequences of capital structure in the presence of agency cost. For this purpose, the information of the companies in the period of 9 years from 1392 to 1400 was reviewed and 113 companies were selected. In order to test the hypotheses of the research, multivariate regression method was used based on logistic analysis method using Eviews software. The results indicate that financial leverage has an inverted U effect on the risk of financial helplessness, and product competition has a U-shaped effect on the risk of financial helplessness. Financial leverage does not have a significant effect on the relationship between product competition and the risk of financial helplessness in the presence of agency fees.

کلیدواژه‌ها [English]

  • Financial leverage
  • Product competition
  • Financial distress risk
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