Review the Relationship between Cost of Debt and Surplus Return with Moderating Effects of Investment Opportunities

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PIRI PARVIZ; ASHTAB ALI; RASOULI MASOUMEH

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Paper Information

Journal: JOURNAL OF FINANCIAL ACCOUNTING KNOWLEDGE Year:2019 | Volume:6 | Issue:2 (21) Page(s): 161-183

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Title

Review the Relationship between Cost of Debt and Surplus Return with Moderating Effects of Investment Opportunities

Author(s)

PIRI PARVIZ | ASHTAB ALI | RASOULI MASOUMEH | Issue Writer Certificate

Keywords

Cost Of DebtQ2

Investment OpportunityQ1

Surplus ReturnQ2

Abstract

Objective: One of the main objectives of the management of the enterprise is to increase the shareholder's wealth as well as increase the value and stock return. Many factors affect the stock return of companies, which one of these factors is choosing the right financing method. The main object of this research is to review the relationship between Cost Of Debt and Surplus Return with the moderating effect of investment opportunities. Method: The data of 91 listed companies at Tehran stock exchange during 20092017 analyzed with multiple regression and panel data approach. Results: The results showed that financing costs have a positive and significant relationship with the Surplus Return. Also, investment opportunities have a significant and positive relation with Surplus Return and the moderating effect of an Investment Opportunity on this relation is negative and significant. Conclusion: Investment opportunities as a moderator variable decrease the relation between Cost Of Debt and Surplus Return. Contribution: The explanation of the relationship between the Cost Of Debt and investment opportunities with the surplus stock returns can provide a deeper understanding of the relationship between capital structure and valuable investment opportunities of the company.

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APA: Copy

PIRI, PARVIZ, ASHTAB, ALI, & RASOULI, MASOUMEH. (2019). Review the Relationship between Cost of Debt and Surplus Return with Moderating Effects of Investment Opportunities. JOURNAL OF FINANCIAL ACCOUNTING KNOWLEDGE, 6(2 (21) ), 161-183. SID. https://sid.ir/paper/358691/en

Vancouver: Copy

PIRI PARVIZ, ASHTAB ALI, RASOULI MASOUMEH. Review the Relationship between Cost of Debt and Surplus Return with Moderating Effects of Investment Opportunities. JOURNAL OF FINANCIAL ACCOUNTING KNOWLEDGE[Internet]. 2019;6(2 (21) ):161-183. Available from: https://sid.ir/paper/358691/en

IEEE: Copy

PARVIZ PIRI, ALI ASHTAB, and MASOUMEH RASOULI, “Review the Relationship between Cost of Debt and Surplus Return with Moderating Effects of Investment Opportunities,” JOURNAL OF FINANCIAL ACCOUNTING KNOWLEDGE, vol. 6, no. 2 (21) , pp. 161–183, 2019, [Online]. Available: https://sid.ir/paper/358691/en

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