The impact of business group affiliation on investment efficiency: The mediating role of product market competition
Subject Areas : Economic
Ali Jafari
1
,
Ali Amirabdollahy
2
1 - Department of Acconting, Bon.C., Islamic Azad University, Bonab, Iran
2 - Department of Acconting, Bon.C., Islamic Azad University, Bonab, Iran.
Keywords: Business group affiliation, Investment Efficiency, Product market competition .,
Abstract :
The aim of this study is to investigate the effect of business group affiliation on corporate investment efficiency, considering the mediating role of product market competition. This research is applied in terms of purpose, descriptive-correlational in terms of method, and quantitative research in terms of the nature of the data. Historical data was used to examine possible causal relationships between variables, so this research is post-event. The research population includes all companies listed on the Tehran Stock Exchange for the period 2017 to 2024. Using systematic screening sampling, 130 companies were selected as the research sample. To collect data and information, two methods, library and field, were used. By using the library method and referring to library resources including books, reputable journals, academic theses, and searching electronic databases, appropriate theoretical foundations and background were provided for the research. Then, using the field method, the required data was collected by referring to the official websites of the Tehran Stock Exchange and the new Rahavard Novin software. The research hypotheses were tested through a multivariate linear regression model and combined data using Eviews software. The results of the study show business group affiliation has a negative and significant effect on the firm's investment efficiency. Also, product market competition has a mediating effect on the relationship between business group affiliation and firm investment efficiency.
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