The Impact of Financial Constraints and Liquidity on the Stock Returns of Companies Listed in Tehran Stock Exchange

Abstract

The purpose of this study was to investigate the The Impact of Financial Limitation and Liquidity on the Stock Returns of Companies Listed in Tehran Stock Exchange. Financial constraints and stock liquidity as independent variable and stock returns are considered as independent variable and company size and return on assets as an intervention variable. The companies listed on the Tehran Stock Exchange during the period 2012-2017 are the statistical population of this research. On a sampling basis, systematic elimination of 650 companies has been determined as a statistical sample. In general, the test results of the research hypothesis show that: lower financial constraints have led to an increase in the stock returns of the companies admitted to the Tehran Stock Exchange due to the company's return on assets and also the liquidity of the stock returns of the companies accepted In Tehran Stock Exchange, according to the variables of intervention, company size and asset returns, is increased.