The investigation of the impact of firm characteristics on capital structure of listed companies in Tehran Stock Exchange

The main purpose of this paper is to investigate the impact of firm characteristics on capital structure (debt ratio) Using data of all the listed companies in the Tehran Stock Exchange from 1383 to 1387. Before analyzing the data, reliability of variables test was conducted. Also, Chaw and Hausman test were used to determine the appropriate model for estimating parameters and effect of independent variables on the dependent variable. Then, through the random effects model research hypotheses were tested.The results of research show that there is significant and negative relationship between quick ratio, interest Coverage Ratio, Company Growth and capital structure. However, there isn’t significant relationship between capital structure and Parameters such as firm size. Moreover, the results of the research suggests that will be different the capital structure of the companies with debt ratio more than 50 percent compared with other companies.