The Role of Firm Bankruptcy Risk on the Relationship between Intellectual Capital and Capital Structure

The purpose of this study is the role of firm bankruptcy risk on the relationship between intellectual capital and capital structure in Tehran Stock Exchange. To achieve this purpose, the ratio of debts to assets was used to measure the capital structure and the intellectual value added coefficient was used for intellectual capital. The statistical population of this research is Tehran Stock Exchange companies and from this population a statistical sample including 82 companies during the period 2012 to 2021 was selected. Hypotheses were tested using linear regression and with Eviwes software. The results showed that there is Intellectual capital has an inverse and significant relationship with the capital structure, but the risk of company bankruptcy does not moderate the relationship between intellectual capital and the company's capital structure. .