نوسانات جریان وجوه‌نقد و کارایی سرمایه‌گذاری در نیروی کار شرکت‌های پذیرفته شده در بورس اوراق بهادار تهران

نوع مقاله : مقاله پژوهشی

نویسندگان

1 دانشجوی دکتری حسابداری دانشگاه بین‌المللی امام خمینی (ره)، قزوین

2 دانشیار حسابداری دانشگاه بین‌المللی امام خمینی (ره)، قزوین

3 کارشناسی ارشد رشته حسابداری دانشگاه آزاد اسلامی، قزوین

چکیده

اهمیت نیروی کار به عنوان یک عامل حیاتی تولید در تابع سود یک شرکت غیرقابل انکار است. از نظر اقتصادی سرمایه‌گذاری در نیروی کار برای شرکت‌های پیشرفته که غالبا سرمایه انسانی بالایی دارند، قابل توجه است. زیرا، بر این باور هستند که سرمایه‌گذاری بهینه و کارا در نیروی کار، ریسک‌های ناشی از می‌تواند عدم قطعیت و نوسان را تا حد ممکن کاهش دهد. بنابراین، پژوهش حاضر به بررسی تأثیر نوسانات وجوه‌نقد شرکت بر کارایی سرمایه‌گذاری نیروی کار می‌پردازد. برای نیل به هدف پژوهش، از اطلاعات مالی 161 شرکت پذیرفته شده در بورس اوراق بهادار تهران در دوره زمانی ابتدای سال 1390 تا پایان سال 1400 و برای آزمون فرضیه‌ پژوهش از روش رگرسیون چندمتغیره و داده‌های ترکیبی استفاده شد. یافته‌ها نشان می‌دهد که بین نوسان جریان‌های نقدی و کارایی سرمایه‌گذاری نیروی کار رابطه مثبت و معناداری وجود دارد. همچنین، یافته‌ها در بخش استحکام نتایج نشان داد که رابطه بین نوسانات وجوه‌نقد شرکت بر کارایی سرمایه‌گذاری نیروی کار در شرکت‌های دارای محدودیت مالی پایین‌تر، نسبت به شرکت‌های دارای محدودیت مالی بالاتر، تفاوت معناداری دارد. بنابراین، می‌توان گفت که وجود نوسان در جریان‌های نقدی منجر به افزایش کارایی سرمایه‌گذاری نیروی کار می‌شود.

کلیدواژه‌ها

موضوعات

عنوان مقاله [English]

Cash flow volatility and labor investment efficiency in TSE

نویسندگان [English]

  • yasin Fattahi 1
  • Abbas Ali Daryaei 2
  • Farzad Moradi 3
1 Ph.D. student in accounting, Imam Khomeini International University
2 Associate Professor of Accounting, Imam Khomeini International University, Qazvin
3 MA in Accounting, Islamic Azad University, Qazvin
چکیده [English]

The importance of labor as a vital factor of production in the profit function of a company is undeniable. From an economic point of view, investing in labor force is significant for advanced companies that often have high human capital. Because, they believe that optimal and efficient investment in the labor force can reduce the risks caused by uncertainty and volatility as much as possible. Therefore, the current research examines the effect of the cash flow volatility on labor investment efficiency. To achieve the purpose of the research, the financial information of 161 companies admitted to the Tehran Stock Exchange in the period from the beginning of 2011 to the beginning of 2022, and to test the hypothesis of the research, the multivariable regression method and combined data were used. The findings show that there is a positive and significant relationship between the fluctuation of cash flows and the efficiency of labor investment. Also, the findings in the robustness section of the results showed that this relationship is different in companies with lower financial constraints compared to companies with higher financial constraints. Therefore, it can be said that the existence of fluctuations in cash flows leads to an increase in the efficiency of labor investment.

کلیدواژه‌ها [English]

  • Efficiency of investment in labor force
  • Volatility of cash flows
  • financial constraints

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پژوهش‌های راهبردی بودجه و مالیه
دوره 4، شماره 4 - شماره پیاپی 16
فصلنامه زمستان
دی 1402
صفحه 11-34

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سابقه مقاله

  • تاریخ دریافت: 14 مهر 1402
  • تاریخ بازنگری: 18 آذر 1402
  • تاریخ پذیرش: 21 آذر 1402

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