Government Spending Fluctuations and Their Effects on Value of Firms | ||
| Iranian Journal of Economic Studies | ||
| دوره 12، شماره 1 - شماره پیاپی 23، آذر 2023، صفحه 199-215 اصل مقاله (713.22 K) | ||
| نوع مقاله: Research Paper | ||
| شناسه دیجیتال (DOI): 10.22099/ijes.2024.49141.1945 | ||
| نویسندگان | ||
| Sajjad Barkhordari* 1؛ Reza Amiri2 | ||
| 1Faculty of Economics, University of Tehran, Tehran, Iran. | ||
| 2Ministry of Economic Affairs and Finance, Tehran, Iran. | ||
| چکیده | ||
| This paper investigates the fluctuations effect in government spending on the value of firms in preferred industries in the TSE. We employed the TVP-FAVAR method and analyzed seasonal data from 2011 to 2018. The findings indicate that the nature and intensity of the impact of government expenditure on value of firm vary across different sectors. This suggests that as circumstances change over time, the effects of fluctuations in government expenditure also evolve, and industries respond differently to these behavioral changes. Specifically, the value of firms in the automotive industry consistently showed a negative response throughout the entire period studied. In contrast, the food and beverage industry, as well as the pharmaceutical materials and products sector, exhibited a positive reaction to changes in government behavior. Furthermore, the impact of government spending on the chemical, plaster, cement, lime, base metals, and products industries fluctuated over time, with both positive and negative effects observed in the short run and long run. We recommend that the government take into account the status and performance of firms when formulating policies. | ||
| کلیدواژهها | ||
| TVP-FAVAR Method؛ Government Spending؛ Value of Firm؛ Fluctuations؛ TSE | ||
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آمار تعداد مشاهده مقاله: 47 تعداد دریافت فایل اصل مقاله: 27 |
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