examining the effect of financial property on financial leverage with explanation of the mitigation role of financial distress in the companies listed in tehran stock exchange

In accounting and finance literature, leverage is a very attractive and one of the most controversial issues facing companies. The purpose of this study is to investigate the effect of some financial characteristics such as firm size, profitability and fixed assets on financial leverage and the effect of financial distress on each of these factors. For this purpose, 176 stock companies were selected during the period from 2013 to 2016 (880 years-corporation). Multivariate correlation and regression methods were used to analyze the data. The results showed that indicators of firm size, profitability, and tangible fixed assets had a significant negative relationship with financial leverage, but there was a significant positive relationship between growth opportunities and financial leverage index. It was also found that adjustment index of financial helplessness had a significant positive effect on the relationship of growth opportunities with financial leverage but had a negative and significant effect on the relationship of fixed assets with financial leverage. On the other hand, the moderating effect of financial distress on profitability and financial leverage is significant.