M.A. Thesis:

Government Subsidies, Financial Structure and R&D investment

The capital structure consists of a combination of financial resources derived from debts and stocks. Deciding on the composition of a company's capital structure is one of the main tasks of managers. The most important issue in the capital structure is to determine an appropriate ratio for the amount of debts and stocks; Because it directly affects the value of the company's stock in the securities market. By determining the amount of capital required by the company, it is a question of which source to provide the required capital and to what extent. The choice between the amount of debt or capital used in companies depends on various factors, including the influence of capital structure based on internal factors, which is generally done to increase the value of the company. The main purpose of this study is to investigate government support, financial structure and investment in research and development in the Tehran Stock Exchange. This research was conducted for a period of 5 years between 2014 and 2018. Sample data of the studied companies were analyzed by analyzing their availability by classifying them using Excel software and analyzing them using Ives software. The research results showed; That domestic financing and debt financing has a positive relationship with investment in research and development and this significant relationship is also positive. But no correlation was found between equity financing and investment in research and development at the 5% error level. Government support also moderates the relationship between equity financing and debt financing with investment in research and development, but has no effect on the relationship between domestic financing and investment in research and development.

Keywords: Keywords; Government Support - Financial Structure - Investment in Research and Development