Accounting and Auditing Research

Accounting and Auditing Research

The effect of ownership structure, financing method based on equity and time horizon of institutional investors on the Financial Performance of companies listed in Tehran Stock Exchange

Document Type : Original Article

Authors
Department of Accounting, Electronics Unit, Islamic Azad University, Tehran, Iran
10.22034/iaar.2025.501855.1813
Abstract
Organizations rely on financial performance evaluation to provide feedback to managers regarding the achievement of strategic goals. One of the functional aspects of organizations, which has traditionally been highly regarded, is their financial aspect. Since earning profit is considered the main goal of many companies, financial performance and its measurement are very important. The main purpose of the current research is to investigate the effect of financing based on equity, ownership structure and time horizon of institutional investors on the performance of companies listed on the Tehran Stock Exchange. In this research, short-term institutional ownership, long-term institutional ownership, government ownership, managerial ownership, concentration of ownership and financing through equity as independent variables; Financial performance as a dependent variable and company size variables, independence of the board of directors, operating cash ratio, company growth and accruals ratio are also considered as control variables. The statistical population of the research is the companies admitted to the Tehran Stock Exchange, and the statistical sample of the research includes 795 companies during the period from 1397 to 1401. The research method is descriptive correlation with applied approach and the method of data analysis is through multiple regression test. The results of the research showed that government ownership and concentration of ownership have an inverse and significant effect on the company's financial performance. Also, the effect of short-term institutional ownership, long-term institutional ownership, managerial ownership and financing through equity on the company's financial performance is direct and significant.
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Articles in Press, Accepted Manuscript
Available Online from 22 December 2025