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The Comparison of the Ownership Structure at Different Level of the Financial Collapse in Listed Firms of Tehran Stock Exchange

Author

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  • Saeid Jabbarzadeh Kangarlouei
  • Morteza Motavassel

Abstract

The main objective of this study is to compare ownership structure of different levels of collapse in listed companies of Tehran Stock Exchange (TSE). Study variables are the ownership structure that includes governmental ownership, private ownership (corporate ownership and individual ownership) and the different levels of collapse including latency stage, the stage of cash deficits and commercial and financial insolvency and complete collapse. Altman model (Z´- Score) is used to predict the collapse of firm and Chi-Square test is used to test the research hypothesis. The study is the applied research and statistical population of study includes 96 collapse firms that are active in the TSE (subject to Business Law Article 141). Given the availability of financial information of distressed companies in 7 years between 2004-2010 years, a sample of 81 members was selected. The results show that the ownership structure of collapsed firms is independent from their different levels of collapse.

Suggested Citation

  • Saeid Jabbarzadeh Kangarlouei & Morteza Motavassel, 2012. "The Comparison of the Ownership Structure at Different Level of the Financial Collapse in Listed Firms of Tehran Stock Exchange," Information Management and Business Review, AMH International, vol. 4(1), pages 49-55.
    • Handle: RePEc:rnd:arimbr:v:4:y:2012:i:1:p:49-55
    DOI: 10.22610/imbr.v4i1.963
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    References listed on IDEAS

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    1. Hussein Tarraf, 2011. "The Role Of Corporate Governance In The Events Leading Up To The Global Financial Crisis: Analysis Of Aggressive Risk-Taking," Global Journal of Business Research, The Institute for Business and Finance Research, vol. 5(4), pages 93-105.
    2. Andreas Charitou & Neophytos Lambertides & Lenos Trigeorgis, 2007. "Earnings Behaviour of Financially Distressed Firms: The Role of Institutional Ownership," Abacus, Accounting Foundation, University of Sydney, vol. 43(3), pages 271-296, September.
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