جستجوی مقالات مرتبط با کلیدواژه « financing sources » در نشریات گروه « مالی »

The purpose of this study is to explain the role of financing sources mergers and acquisitions on corporate performance based on Pecking Order Theory. What distinguishes this research from other mergers and acquisitions is the variable financing methods that are measured using a Pecking Order Theory of debt ratios, accumulated profits, and financial leverage. And to measure the firm's performance, variables such as equity returns, asset returns and the Kyotubin ratio are used.This study, using regression data on a sample of companies listed in the Tehran Stock Exchange that were acquired by other companies during the years 1391 to 1395, It shows that the source of financing of mergers and acquisitions has a different impact on the performance of the company. Whatever the company uses its debt ratio to fund, the company's performance has changed, increasing equity returns and decreasing returns on corporate assets. Also, increasing Retained earnings and Leverage as a source of financing , has increased the rate of return on assets and corporate performance, but the return on equity and value of the company has not changed.

The purpose of this study is to explain the role of firm characteristics on corporate merger and acquisition financing based on Pecking Order Theory during the years 2014 to 2018  .In this study, the company's characteristics are measured from the variable company's size, asset structure, profitability, ratio of interest cost cover, liquidity and Return on assets, and to measure the variable financing methods, using a Pecking Order model of accumulated profit, debt ratio And financial leverage has been used.The results of this study, using regression of combined data, show that the larger the company and the more profitable it is, the company uses less profit from financing its investment projects and turns to external resources.While increasing the return on assets, the company uses more accumulated profits and financial leverage than debt.In other words, companies do not follow a Pecking Order Theory in providing all the funding they need.Also, in this study, no significant relationship was observed between asset structure, ratio of interest cost cover and liquidity with financing sources.