The importance of accounting information in determining the impact of changes in the financial structure on the market value of the company Applied study in a sample of companies listed in the Iraqi market for securities

Abstract

This study is based on the possibility of specifying the accounting information in definition of financing structure in the establishment, which is represented by specifying the change in debit and credit finance to grant several targets.  Such as raise of establishment market value and repayment of financial obligations and providing cash flow, adding to the development of wealth and the optimum use of resources. The financial management also aims to magnify the establishment assets value, and it is relation with the financing structure. A various theories explained the relation between the establishment market value and the financing structure, where many support the existence of such effect and some deny it. Accordingly, this study aims to explain the concept and the importance of the financing structure and its components, discussion of the theories found to explain it, and identifying the criticisms for each, and identifying the changes occurs on the establishment value and financing structure.

            Accordingly, the test was made on the effect of the financing structure on the market value for the Iraqi companies listed in Iraqi stocks market for the period between 2010 and 2015, where this study covered a sample of six companies, where the factors of (connection, deterioration , identification) used to study the relation between the independent variable(the financing structure) and the dependent variable (the market value) measured by the percentage of (Tobin Q) the market value to the gross assets. The study concluded that there is a statistic relation between the change in the financing structure and the establishment value, adding to a similar relation between the change in the financing structure and the market value