The Impact of Growth Opportunities and Financial Leverage on Systematic Risk of Listed Companies in Tehran Stock Exchange Izadinia Nasera, Googerdchian Ahmadb, Alisani Ebrahimc aAssociate professor, Accounting, University of Isfahan, Isfahan, Iran bAssistant professor, Economics, University of Isfahan, Isfahan, Iran cM.A., Finance, University of Isfahan, Isfahan, Iran Online published on 27 March, 2014. Abstract Talks about investment and people has a long history. Today, due to the rapid development of capital markets, attention has been given to the public. Two variables have a decisive role in the decision of investors in the area of investment risk and return. So far, many studies are done on the identification of variables affecting these two variables. Researchers face two types of risk, systemic risk is one related to the changes in the market and the other is non-systematic risk. Research carried out within the scope of systemic risk examined the impact of various parameters on these variables. Accordingly, in the present study the impact of accounting variables such as growth opportunities and financial leverage on systematic risk have been studied. In order for this method to remove systematic sample of 80 companies were selected among the listed companies in Tehran Stock Exchange for the period 2003 to 2012. Given the variables and theoretical research, two hypotheses were suggested for research and econometric methods were used to test the hypotheses. Our findings indicate that the growth opportunities and financial leverage effect systematic risk. Top Keywords Risk, Systemic Risk, The Degree of Financial Leverage, Growth Opportunities. Top |