سرمایه اجتماعی و سررسید بدهی‌ها

نوع مقاله : مقاله پژوهشی

نویسندگان

1 دانشجوی دکتری حسابداری، گروه حسابداری، واحد رشت، دانشگاه آزاد اسلامی، رشت، ایران

2 دانشیار حسابداری، گروه حسابداری، واحد چالوس، دانشگاه آزاد اسلامی، چالوس، ایران

چکیده

هدف: یک مؤلفه اصلی سرمایه اجتماعی، یعنی سطح اعتماد، برای موفقیت اقتصادی در جامعه ضروری است. سرمایه اجتماعی به شرکت‌ها کمک می‌کند تا سطح بدهی و سرمایه متناسب خود را انتخاب نمایند. لذا رفتارهای اقتصادی را به سوی رفاه جمعی سوق می‌دهد. نوع ساختار سررسید بدهی‌ها و دست یابی به سطوح بهینه، همیشه مورد توجه تحلیل‌گران می‌باشد. در ارتباط با سطح بهینه استقراض؛ میزان استقراض کوتاه مدت و بلندمدت در نواحی با سطوح مختلف سرمایه اجتماعی، مدنظر قرار گرفت. با بررسی رابطه سرمایه اجتماعی و سررسید بدهی‌ها، تاثیر میزان اعتماد ایجاد شده از طریق سرمایه اجتماعی در این رابطه مورد بررسی قرار گرفت.
روش: سرمایه اجتماعی در این پژوهش شامل سرمایه اجتماعی کل و هریک از سطوح سه گانه آن: سرمایه اجتماعی در سطح کلان، میانی و خرد می‌باشد. نمونه پژوهش شامل اطلاعات 121 شرکت ( از 23 استان) پذیرفته شده در بورس اوراق بهادار تهران طی سال‌های 1393 الی 1397 می‌باشد.
یافته‌ها: نتایج کلی فرضیه‌ها نشان می‌دهند که سرمایه اجتماعی کل و هریک از سطوح آن، با سررسید بدهی‌های کوتاه مدت و بلندمدت به ترتیب؛ رابطه منفی و مثبت معنادار دارد. به عبارتی، شرکت‌های مستقر در نواحی با سرمایه اجتماعی بالا، نسبت به شرکت‌های مستقر در نواحی با سرمایه اجتماعی پایین، دارای سررسید بدهی‌های کوتاه مدت کمتر و بلندمدت بیشتر در ساختار سرمایه خود می‌باشند. لذا هزینه تامین مالی در این شرکت‌ها به دلیل استقرار در مناطق با سرمایه اجتماعی بالاتر، کمتر می‌باشد.

کلیدواژه‌ها

عنوان مقاله [English]

Social capital and debt maturity

نویسندگان [English]

  • Seyed Saeb Mousavi 1
  • Mohammad Reza Pourali 2
1 Ph.D. Student in Accounting, Department of Accounting, Rasht Branch, Islamic Azad University, Rasht, Iran.
2 Associate Professor of Accounting, Department of Accounting, Chalous Branch, Islamic Azad University, Chalous, Iran.
چکیده [English]

Objective: A key component of social capital, the level of trust, is essential for economic success in society. Social capital helps companies choose the right level of debt and capital. Therefore, it leads economic behaviors towards collective welfare. The type of debt maturity structure and the achievement of optimal levels are always considered by analysts. In connection with the optimal level of borrowing; Short-term and long-term borrowing rates in areas with different levels of social capital were considered. By examining the relationship between social capital and debt maturity, the effect of the amount of trust created through social capital in this regard was examined.
Method: Social capital in this study includes total social capital and each of its three levels: social capital at the macro, intermediate and micro levels. The research sample includes information of 121 companies (From 23 province) listed on the Tehran Stock Exchange during the years 2014 to 2018.
Findings: The general results of the hypotheses show that the total social capital and each of its levels, with the maturity of short-term and long-term debts, respectively; There is a significant negative and positive relationship. In other words, companies located in areas with high social capital have less short-term and longer-term debt maturities in their capital structure than companies located in areas with low social capital. Therefore, the cost of financing in these companies is lower due to their location in areas with higher social capital.

کلیدواژه‌ها [English]

  • Social capital
  • Long-term debt maturity
  • Short-term debt maturity

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