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Paper Information

Journal:   FINANCIAL ACCOUNTING   WINTER 2011 , Volume 2 , Number 8; Page(s) 39 To 59.
 
Paper: 

ANALYSIS OF THE IMPACT OF OPERATING CASH FLOW SHOCKS ON THE ASSETS AND CAPITAL STRUCTURE OF THE LISTED COMPANIES IN TSE

 
 
Author(s):  AGHAIE MOHAMMADALI, JAMALI GHOLAMREZA, AHMADI HASAN
 
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Abstract: 

This paper investigates the effect of changes of operating cash flow-due to severe shocks which are not systematically identified (cash flow shock)-on the asset and capital structure of manufacturing companies listed in Tehran stock exchange.
This issue is tested through the conversion of major components forming cash flow statement into a simple mathematical equation (cash flow equation) and extracting the multiple regression models of the equation.
Based on a sample consisting of 306 years-company, from manufacturing companies listed in Tehran stock exchange between the years 1386 and 1388, the findings show that: there is a significant relationship between operating cash flow (due to cash flow shock) and changes of asset and capital structure. Furthermore, research results indicate that companies in the short-term increase saving (increase in held cash) and decrease external financing (borrowing of reduce or selling shares of capital) and in long term increase investment and external financing. In fact, how to allocate cash of companies indicates reaction (behavior) of companies to cash flow shocks.

 
Keyword(s): CASH FLOW SHOCK, CASH FLOW SENSITIVITY, CASH FLOW EQUATION, TEHRAN STOCK EXCHANGE
 
 
References: 
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Citations: 
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APA: Copy

AGHAIE, M., & JAMALI, G., & AHMADI, H. (2011). ANALYSIS OF THE IMPACT OF OPERATING CASH FLOW SHOCKS ON THE ASSETS AND CAPITAL STRUCTURE OF THE LISTED COMPANIES IN TSE. FINANCIAL ACCOUNTING, 2(8), 39-59. https://www.sid.ir/en/journal/ViewPaper.aspx?id=201087



Vancouver: Copy

AGHAIE MOHAMMADALI, JAMALI GHOLAMREZA, AHMADI HASAN. ANALYSIS OF THE IMPACT OF OPERATING CASH FLOW SHOCKS ON THE ASSETS AND CAPITAL STRUCTURE OF THE LISTED COMPANIES IN TSE. FINANCIAL ACCOUNTING. 2011 [cited 2021October16];2(8):39-59. Available from: https://www.sid.ir/en/journal/ViewPaper.aspx?id=201087



IEEE: Copy

AGHAIE, M., JAMALI, G., AHMADI, H., 2011. ANALYSIS OF THE IMPACT OF OPERATING CASH FLOW SHOCKS ON THE ASSETS AND CAPITAL STRUCTURE OF THE LISTED COMPANIES IN TSE. FINANCIAL ACCOUNTING, [online] 2(8), pp.39-59. Available: https://www.sid.ir/en/journal/ViewPaper.aspx?id=201087.



 
 
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