文章基本信息

标题：Ownership Structure, Capital Structure, and Firm Survival
本地全文：下载
作者：Mehdi Rasouli Ghahroudi ; Yasuo Hoshino ; Ehsan Fakhraei 等
期刊名称：International Journal of Economics and Finance
印刷版ISSN：1916-971X
电子版ISSN：1916-9728
出版年度：2019
卷号：11
期号：11
页码：19-29
DOI：10.5539/ijef.v11n11p19
语种：English
出版社：Canadian Center of Science and Education
摘要：This study investigates the influence of ownership structure and capital structure on the survival of firms on Iran's stock market from 2005 to 2015. Firm survival is measured in terms of the exit of the firm “i” in year “t” from among 484 firms listed in the Tehran Stock Exchange. We have used a binary logistic regression method to test the hypotheses. The results reveal a significant inverse relationship between capital structure and firm survival and between major ownership and firm survival on the stock market, as well as a significant direct relationship between institutional ownership and firm survival. Thus, firms with a higher ratio of debt to assets have a higher probability of survival. However, those with a higher ratio of institutional ownership are less likely to survive.
关键词：capital structure; institutional ownership; major ownership; survival; stock market