Analysis of the effects of dividend payment, global financial crisis, internal and external financing on the sales growth of companies listed on the Tehran Stock Exchange

Abbasian, Ezatollah; Nasiroleslami, Ebrahim; Nikoukar, MohammadSaeid

doi:JABM.3.2.15564.3599743839

Analysis of the effects of dividend payment, global financial crisis, internal and external financing on the sales growth of companies listed on the Tehran Stock Exchange

Document Type : Excerpt from doctoral thesis

Authors

Ezatollah Abbasian ¹

Ebrahim Nasiroleslami ²

MohammadSaeid Nikoukar ³

¹ Professor, Department of Financial Engineering, School of Management, University of Tehran, Tehran, Iran

² Assistant Professor, Department of Statistics, Faculty of Basic Sciences, Bu-Ali Sina University, Hamadan, Iran

³ Ph.D. student in financial engineering, Kish International Campus of Tehran University, Kish, Iran

JABM.3.2.15564.3599743839

Abstract

Various factors affect the sales level of companies. The first factor that affects sales growth is the difference in the company's interests between investors and managers, which leads to agency conflict. The purpose of this research is to analyze the effect of dividend payment, global financial crisis, domestic and foreign financing on the sales growth of companies in the stock exchange. Bahadar Tehran during the years 1386 to 1400. For this purpose, research data was collected and analyzed from various sources, including Amin's software, Kodal site, and Borsview. In this article, the trends in the variables are first examined. Then the descriptive analysis of research variables is done. In the following and before estimating the research models, the stationarity and co-accumulation test will be performed to ensure the existence of long-term relationships between the variables. In the next step, the effects of paid dividends, global financial crisis, internal and external financing, along with other control variables on the sales growth of companies will be investigated using panel data regression methods. According to the results of the research, dividends of companies have had a negative and significant effect on sales growth. While, the level of internal financing of companies has a negative and significant effect, the spread of the corona virus has a positive and significant effect, and the company's net profit has a positive and significant effect on sales growth. The rest of the variables in the model did not have a significant effect on sales growth.

Keywords

nterest paid

financing

financial crisis

sales growth

Subjects

Strategic

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