Working Capital Management, Investment and Financing Constraints in Companies Listed on the Tehran, Iran Stock Exchange

Fatemeh Baghiyan

doi:doi:10.11648/j.ijber.20130206.12

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Working Capital Management, Investment and Financing Constraints in Companies Listed on the Tehran, Iran Stock Exchange

Fatemeh Baghiyan

Published in International Journal of Business and Economics Research (Volume 2, Issue 6)

Received: 15 September 2013 Published: 20 October 2013

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Abstract

Since the level of fixed investment is costly for industries, they always search for ways to maintain it; however, financing constraints prevent the realization of this goal. A panel of over 134 stock firms over the period 2005-2011 was used to study the linkages between financing constraints and investment in fixed and working capital. To this end we have analyzed the relation between tangible fixed assets, investment, cash flow, tangible fixed assets, working capital and fixed investment. In this studies we changes variables and hypotheses. The results obtained indicate that an active management of working capital may help firms alleviate the effects of financing constraints on fixed investment [9].

Published in	International Journal of Business and Economics Research (Volume 2, Issue 6)
DOI	10.11648/j.ijber.20130206.12
Page(s)	130-133
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2013. Published by Science Publishing Group

Keywords

Working Capital Management, Investment, Cash Flow, Tangible Fixed Assets, Fixed Investment [9]

References

[1]	Sai, D., Alessandra, G., John, K., 2012. Investment and financing constraints in china, Journal of banking $ Finance 18, 1-18.
[2]	Allen, F., Qian,J., Qian, M., 2005. Law, finance,and economic growth in China, Journal of Financial Economics 77, 57–116.
[3]	Ayyagari, M., Demirgüç-Kunt, A., Maksimovic, V., 2010, Formal versus informal Finance: evidence from China.Review of Financial Studies 23, 3048–3097.
[4]	Chen, H., Chen, S., 2012, Investment – cash flow sensitivity cannot be a good Measure of financial constraints: evidence from time-series. Journal of Financial Economics 103, 393–410.
[5]	Guariglia, A., Liu, X., Song, L., 2011, internal finance and growth: microeconometric Evidence on Chinese firms, Journal of Development Economics 96 (1), 79–94.
[6]	Bernanke, B., Gurkanyan, R., 2001. Is Growth Exogenous? "Taking Mankiw, Romer, and Weil Seriously, National Bureau of Economic Research Annual, MIT Press, and Cambridge, Massachusetts".
[7]	Bond, S., Schiantarelli, F., 2010, Capital accumulation and growth: a new look at Empirical evidence, Journal of Applied Econometrics 25, 1073–1099.
[8]	Ding, S., Knight, J., 2011, why has China grown so fast? "The role of physical and human capital formation, Oxford Bulletin of Economics and Statistics 73, 141–174".
[9]	Etemadi, H., Baghiyan, F; (2013), Investment and Financing Constraints in Iran, International Journal of Economics, Finance and Management Sciences (IJEFM) pp.252-257.

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Fatemeh Baghiyan. (2013). Working Capital Management, Investment and Financing Constraints in Companies Listed on the Tehran, Iran Stock Exchange. International Journal of Business and Economics Research, 2(6), 130-133. https://doi.org/10.11648/j.ijber.20130206.12

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ACS Style

Fatemeh Baghiyan. Working Capital Management, Investment and Financing Constraints in Companies Listed on the Tehran, Iran Stock Exchange. Int. J. Bus. Econ. Res. 2013, 2(6), 130-133. doi: 10.11648/j.ijber.20130206.12

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AMA Style

Fatemeh Baghiyan. Working Capital Management, Investment and Financing Constraints in Companies Listed on the Tehran, Iran Stock Exchange. Int J Bus Econ Res. 2013;2(6):130-133. doi: 10.11648/j.ijber.20130206.12

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@article{10.11648/j.ijber.20130206.12,
  author = {Fatemeh Baghiyan},
  title = {Working Capital Management, Investment and Financing Constraints in Companies Listed on the Tehran, Iran Stock Exchange},
  journal = {International Journal of Business and Economics Research},
  volume = {2},
  number = {6},
  pages = {130-133},
  doi = {10.11648/j.ijber.20130206.12},
  url = {https://doi.org/10.11648/j.ijber.20130206.12},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijber.20130206.12},
  abstract = {Since the level of fixed investment is costly for industries, they always search for ways to maintain it; however, financing constraints prevent the realization of this goal. A panel of over 134 stock firms over the period 2005-2011 was used to study the linkages between financing constraints and investment in fixed and working capital. To this end we have analyzed the relation between tangible fixed assets, investment, cash flow, tangible fixed assets, working capital and fixed investment. In this studies we changes variables and hypotheses. The results obtained indicate that an active management of working capital may help firms alleviate the effects of financing constraints on fixed investment [9].},
 year = {2013}
}

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TY  - JOUR
T1  - Working Capital Management, Investment and Financing Constraints in Companies Listed on the Tehran, Iran Stock Exchange
AU  - Fatemeh Baghiyan
Y1  - 2013/10/20
PY  - 2013
N1  - https://doi.org/10.11648/j.ijber.20130206.12
DO  - 10.11648/j.ijber.20130206.12
T2  - International Journal of Business and Economics Research
JF  - International Journal of Business and Economics Research
JO  - International Journal of Business and Economics Research
SP  - 130
EP  - 133
PB  - Science Publishing Group
SN  - 2328-756X
UR  - https://doi.org/10.11648/j.ijber.20130206.12
AB  - Since the level of fixed investment is costly for industries, they always search for ways to maintain it; however, financing constraints prevent the realization of this goal. A panel of over 134 stock firms over the period 2005-2011 was used to study the linkages between financing constraints and investment in fixed and working capital. To this end we have analyzed the relation between tangible fixed assets, investment, cash flow, tangible fixed assets, working capital and fixed investment. In this studies we changes variables and hypotheses. The results obtained indicate that an active management of working capital may help firms alleviate the effects of financing constraints on fixed investment [9].
VL  - 2
IS  - 6
ER  -

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Author Information

Fatemeh Baghiyan

Nuclear Science and Technology Research Institute, Plasma Physics and Nuclear Fusion Research School, Tehran, Iran

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APA Style

Fatemeh Baghiyan. (2013). Working Capital Management, Investment and Financing Constraints in Companies Listed on the Tehran, Iran Stock Exchange. International Journal of Business and Economics Research, 2(6), 130-133. https://doi.org/10.11648/j.ijber.20130206.12

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ACS Style

Fatemeh Baghiyan. Working Capital Management, Investment and Financing Constraints in Companies Listed on the Tehran, Iran Stock Exchange. Int. J. Bus. Econ. Res. 2013, 2(6), 130-133. doi: 10.11648/j.ijber.20130206.12

Copy | Download

AMA Style

Fatemeh Baghiyan. Working Capital Management, Investment and Financing Constraints in Companies Listed on the Tehran, Iran Stock Exchange. Int J Bus Econ Res. 2013;2(6):130-133. doi: 10.11648/j.ijber.20130206.12

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@article{10.11648/j.ijber.20130206.12,
  author = {Fatemeh Baghiyan},
  title = {Working Capital Management, Investment and Financing Constraints in Companies Listed on the Tehran, Iran Stock Exchange},
  journal = {International Journal of Business and Economics Research},
  volume = {2},
  number = {6},
  pages = {130-133},
  doi = {10.11648/j.ijber.20130206.12},
  url = {https://doi.org/10.11648/j.ijber.20130206.12},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijber.20130206.12},
  abstract = {Since the level of fixed investment is costly for industries, they always search for ways to maintain it; however, financing constraints prevent the realization of this goal. A panel of over 134 stock firms over the period 2005-2011 was used to study the linkages between financing constraints and investment in fixed and working capital. To this end we have analyzed the relation between tangible fixed assets, investment, cash flow, tangible fixed assets, working capital and fixed investment. In this studies we changes variables and hypotheses. The results obtained indicate that an active management of working capital may help firms alleviate the effects of financing constraints on fixed investment [9].},
 year = {2013}
}

Copy | Download

TY  - JOUR
T1  - Working Capital Management, Investment and Financing Constraints in Companies Listed on the Tehran, Iran Stock Exchange
AU  - Fatemeh Baghiyan
Y1  - 2013/10/20
PY  - 2013
N1  - https://doi.org/10.11648/j.ijber.20130206.12
DO  - 10.11648/j.ijber.20130206.12
T2  - International Journal of Business and Economics Research
JF  - International Journal of Business and Economics Research
JO  - International Journal of Business and Economics Research
SP  - 130
EP  - 133
PB  - Science Publishing Group
SN  - 2328-756X
UR  - https://doi.org/10.11648/j.ijber.20130206.12
AB  - Since the level of fixed investment is costly for industries, they always search for ways to maintain it; however, financing constraints prevent the realization of this goal. A panel of over 134 stock firms over the period 2005-2011 was used to study the linkages between financing constraints and investment in fixed and working capital. To this end we have analyzed the relation between tangible fixed assets, investment, cash flow, tangible fixed assets, working capital and fixed investment. In this studies we changes variables and hypotheses. The results obtained indicate that an active management of working capital may help firms alleviate the effects of financing constraints on fixed investment [9].
VL  - 2
IS  - 6
ER  -

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