چکیده:
Capital structure is one of the most important topics in any company. Choose an appropriate
capital structure is one of the important issues in determining the value of each company and
this structure is composition of financing the company. Debts and equity are structural
components of capital. Type of debt used in the company will be effective on the company's
risk ratio .Some of the companies have used the current debts in financing and financial risk
of them will be increased naturally and some are more willing to Non-Current debts. In this
study, we investigate the effect of operating cash flow on time structure of debts in listed
companies in Tehran Stock Exchange within 2006 to 2013 .The number of observations in
this research are 98 companies. Research data have been collected using informational
banks of Stock Exchange and companies and the hypotheses have been tested using OLS
method. Given the results of study, there is a significant relationship between operating cash
flow and time maturity of debts
خلاصه ماشینی:
Research hypotheses Main hypothesis: There is a significant relationship between company's operating cash flow and time structure of debts.
Descriptive Statistics UCT Journal of Management and Accounting Studies Table 1: Descriptive statistics of the explanatory variables of research Description Ratio current to the non-current debt y Operation cycle X1 The ratio of cash flow to total assets X2 Company size X4 Company lifetime X5 Mean 11.
UCT Journal of Management and Accounting Studies Table 4: results of third sub-hypothesis testing based on the model (4) Variables Coefficients Value T-statistic Significant level operating cycle () 0.
Hypothesis test result According to third sub-hypothesis, the effect of operating cash flow is more on the time structure of debt for companies with bigger size.
UCT Journal of Management and Accounting Studies H1: the effect of operating cash flow on the time structure of debt is more for companies with higher lifetime Table (5): F Limer test results (width consistency of width from origins of Companies) Null hypothesis Relationship Research F statistic Degree of freedom P Value Test result width from origins of all sections are equal with each other Model 5 7.
UCT Journal of Management and Accounting Studies Hypothesis test result According to forth sub-hypothesis, the effect of operating cash flow on the time structure of debt is more for companies with higher lifetime.
7- According to sub-hypothesis (2-2), the effect of operating cash flow on the time structure of debts is more in companies with higher lifetime.