M.A. Thesis:

NFP, product market and capital expenditure

Capital expenditure are defined as eExpenditure to maintain, sustain or increase the capacity of production of goods and services leads, and for firms have Future profitability. The main goal of this research is the impact of NonFinancial Performance, and agency expens on capital expenditure listed companies in Tehran Stock Exchange (TSE). Gordon model was used to measure capital expenditure and to carry out the study, the information of 120 active companies in the Stock Exchange was collected and analysed using statistical softwares from 2011 to 2015. The results show that there is a significant relationship between Non-financial performance measures and capital expenditure, and also agency expenses mediates the relationship between Non-financial performance measures and Capital Expenditure.

Keywords: Non-financial performance, capital expenditure, Return on sales, Rate of market share, Product marke