Volume 2, Issue 2, Summer 2019, Page 7 - 20
Author(s) :
Fazel Mohammadi Noodeh 1 , Saeed Shahriyari *2
1 Islamic Azad University, Lahijan Branch, Iran
2 Kar Institute of Higher Education, Qazvin, Iran

Abstract :
The purpose of this study is to investigate the effect of family ownership on financing constraints and efficiency of companies in Tehran Stock Exchange companies. To investigate the present issue, 110 companies listed on the Tehran Stock Exchange during a five years’ period during 2013 to 2017 were surveyed using the combined data method (550 observation). The results of the significance test of coefficients based on fitted regression equations show that family ownership has a positive and significant effect on corporate financing constraints. On the other hand, family ownership has a negative and significant relationship with corporate performance.

Keywords :
Family ownership, Ownership structure, Financial constraints, Investment sensitivity.

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Receive Date
16 Jul 2019
Revise Date
24 Jul 2019
Accept Date
29 Jul 2019