حسابداری سلامت (Mar 2013)
Examining the Effect of Type of Auditing Report on Financing (Borrowing from Bank) Pharmaceutical Products and Material Companies of Tehran Stock Exchange
Abstract
Introduction: The purpose of this paper is to study the effect of type of auditing report on financing active companies of pharmaceutical products and material which belong to Tehran stock exchange through domestic banks. Methods: The facility offered by banks and the auditing report constitute the dependent and independent variables respectively in this study. The companies listed in Tehran stock exchange comprise the population. The sample used in this study consists of 18 active companies of pharmaceutical products and material between 2004 and 2010. This study which is characterized as descriptive correlation uses Logistic Regression for testing the research hypotheses. SPSS version 16 was used for analyzing the research data. Results: The results of the study indicate that the type of auditing report of auditing institution does not exercise considerable influence on the decisions made by banks with regard to offering short-term or long-term facility. The analysis of control variables indicate that financial leverage variables and assets structure have a significant and positive relationship with companies’ short-term financing through state banks. Regarding the short-term financing of the companies through private banks, there is a significant and direct relationship between the size of the company and receiving of loan (or not thereof), and there is a significant but reverse relationship between profitability and financing. Conclusion: Overall, it can be concluded that there is no significant relationship between the type of auditing report and financing of the companies of pharmaceutical products and material.
