Commercial Surveys

Commercial Surveys

Investigating the effect of institutional investors ratio, financial constraints, stock market liquidity and volatility of stock prices on sales growth rate in companies admitted to Tehran Stock Exchange

Document Type : operational

Author
ali hasanvand
Abstract
The purpose of the article: The purpose of this research is to investigate the ratio of institutional investors, financial restrictions, stock market liquidity and stock price volatility on the sales growth of companies.
 
Research method: In this research, a library and causal study is used and the analysis is panel data analysis. In this research, the financial information of 106 companies admitted to the Tehran Stock Exchange during the period from 2008 to 2013 has been examined (636 companies - year). 22 Spss, Eviews 8.1 and Minitab 17.1 software are used for analysis and research results.
 
Conclusion: The results of the research in connection with the confirmation of the first hypothesis of the research showed that there is a significant and direct relationship between the ratio of institutional investors and the sales growth rate of companies. Also, according to the analysis made in connection with the second confirmation, we came to the conclusion that there is a significant and inverse relationship between financial and growth rates of companies. In the continuation of the research results regarding the confirmation of the third hypothesis of the research, it was found that there is a significant and direct relationship between the liquidity of the stock market and the growth rate of companies, and finally according to the analysis and analyzes made in connection with the fourth hypothesis of the research. We came to the conclusion that there is a significant and direct relationship between the volatility of stock prices and the sales growth rate of companies.
 
Keywords
: Institutional investors ratio
Sales growth rate
Financial constraints
Stock market liquidity
Stock price fluctuation and Data panel
 
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Commercial Surveys
Volume 15, Issue 82
November and December 2018
Pages 20-36

  • Receive Date 16 November 2017
  • Revise Date 05 May 2018
  • Accept Date 09 June 2018