文章基本信息

标题：A study on the effects of subsidies on market value: Evidence from Petrochemical and steel industries
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作者：Batool Norouzi ; Mohsen Hamidian
期刊名称：Management Science Letters
印刷版ISSN：1923-9335
电子版ISSN：1923-9343
出版年度：2015
卷号：5
期号：4
页码：387-392
DOI：10.5267/j.msl.2015.2.006
出版社：Growing Science
摘要：Iran’s 4th development plan has enrolled the federal government to increase energy prices and remove any subsidies paid to energy sector in an attempt to increase productivity and provide better social welfare. It is, therefore, important to investigate the effects of the law on different industries and the subsequent effects on economic growth. This study investigates the impacts of subsidies on the market value of listed companies in Tehran Stock Exchange in Petrochemical and Steel industries. The study selects two firms, Esfahan's Mobarakeh Steel Company and Fanavaran Petrochemical Co. using Auto Regressive Distributed Lags (ARDL) over the period 2008-2013. The results have indicated that there was a meaningful relationships between removal of subsidies and market value of the firms.
关键词：Tehran Stock Exchange; Subsidy removal; Petrochemical industry; Steel industry