aAssociate Professor, Department of Accounting, Mashhad Branch, Islamic Azad University, Mashhad, Iran
bM.A. Student of Accounting, Department of Accounting, Mashhad Branch, Islamic Azad University, Mashhad, Iran
Online published on 4 February, 2015.
Institutions and enterprises particularly active in the industry, for their existence and continuing activities of production and activities development, need giant capital and subsequently need financing. In this study, we review relationship between financing, cash flow and financial constraints in manufacturing firms listed in Tehran stock exchange. For this purpose, data of 111 firms listed in Tehran Stock Exchange during periods of 2008 to 2013 were analysed using linear regression. The results indicated that external financing and domestic funds collection (net cash flow) has negative relationship and this expected relationship, for firms with financial constraints is stronger.
External source, cash flow, financial constraints, Tehran Stock Exchange
