M.A. Thesis:

Free cash flow٫growth opportunity and performance

One of the main motivations for investors to enter the capital markets is to achieve good returns and ultimately increase wealth. The company performance is an important factor in changing the value of the stock market, thereby changing the wealth of shareholders. This study examines the relationship among free cash flow, growth opportunities and company performance. This research was conducted within a period of five years between 1391 and 1395 on companies which are listed on the Stock Exchange. The results of the research In this research, growth opportunity and company size were considered to be the moderator variable and control variable, respectively. The results of the research showed that there is a positive and significant relationship between free cash flow and company performance, and also showed that growth opportunities increase the relationship between free cash flow and company performance. Analyzing the results of the study, it can be argued that the existence of free cash flow leads to more investment opportunities and more growth for the company, creating more value for the company and improving performance.

Keywords: Key words: Free Cash Flow, Company Performance, Growth Opportunity And Company Size