نوع مقاله : مقاله پژوهشی
نویسندگان
1 استادیار حسابداری، دانشگاه کردستان، سنندج
2 دانشجوی کارشناسیارشد حسابداری، دانشگاه کردستان، سنندج
چکیده
کلیدواژهها
عنوان مقاله [English]
نویسندگان [English]
Evidence suggests that the cost of equity capital in the path of corporate life cycle shows a non-linear model. In this context, the purpose of the current study is to investigate the impact of corporate life cycle on cost of equity capital in listed firms in TSE. The sample of the study consisted of 105 companies during the 1385 to 1392. In order to test the hypotheses, panel data multiple regression analysis has been used. The results suggest that during introduction and decline stages there is no significant relationship between the corporate life cycle based on Dickinson criterion and the cost of equity capital, and the cost of equity capital during growth and mature stages is significantly higher compared with the shake-out stage. Also based on DeAngelo criterion, results show a significant relationship between the corporate life cycle and the cost of equity capital. This means that companies in growth and mature stages, compared with introduction and decline stages, have a significantly higher cost of equity capital.
کلیدواژهها [English]
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