The Effect of Financial Development on the Investment of the Companies Listed on the Tehran Stock Exchange

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ABDI EBRAHIM; KHODADAD KASHI FARHAD; MOOSAVI JAHROMI YEGANEH

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Paper Information

Journal: JOURNAL OF ECONOMIC MODELING RESEARCH Year:2018 | Volume:9 | Issue:33 Page(s): 7-41

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Title

The Effect of Financial Development on the Investment of the Companies Listed on the Tehran Stock Exchange

Author(s)

ABDI EBRAHIM | KHODADAD KASHI FARHAD | MOOSAVI JAHROMI YEGANEH | Issue Writer Certificate

Keywords

Financial DevelopmentQ2

InvestmentQ2

Financial ConstraintsQ1

Firm SizeQ2

Business CyclesQ1

Abstract

The present study examined the impact of Financial Development on the Investment of the companies listed on the Tehran Stock Exchange. To achieve this goal, data gathered from 258 companies during 2005 to 2016 and the dynamic generalized method of moments were utilized to formulate the Investment model with Financial Constraints. The results of the study showed that these companies faced Financial Constraints on Investment and Financial Development has increased their Investment by reducing the Financial Constraints. The results also indicated that the positive effect of Financial Development on Investment has been bigger in the case of larger companies than in smaller companies. It was further revealed that during the economic boom, Financial Constraints on companies were reduced and Financial Development led to the reinforcement of the positive effect of the boom on reduction of the companies’ Financial Constraints.

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APA: Copy

ABDI, EBRAHIM, KHODADAD KASHI, FARHAD, & MOOSAVI JAHROMI, YEGANEH. (2018). The Effect of Financial Development on the Investment of the Companies Listed on the Tehran Stock Exchange. JOURNAL OF ECONOMIC MODELING RESEARCH, 9(33 ), 7-41. SID. https://sid.ir/paper/384976/en

Vancouver: Copy

ABDI EBRAHIM, KHODADAD KASHI FARHAD, MOOSAVI JAHROMI YEGANEH. The Effect of Financial Development on the Investment of the Companies Listed on the Tehran Stock Exchange. JOURNAL OF ECONOMIC MODELING RESEARCH[Internet]. 2018;9(33 ):7-41. Available from: https://sid.ir/paper/384976/en

IEEE: Copy

EBRAHIM ABDI, FARHAD KHODADAD KASHI, and YEGANEH MOOSAVI JAHROMI, “The Effect of Financial Development on the Investment of the Companies Listed on the Tehran Stock Exchange,” JOURNAL OF ECONOMIC MODELING RESEARCH, vol. 9, no. 33 , pp. 7–41, 2018, [Online]. Available: https://sid.ir/paper/384976/en

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