Abstract: Financial flexibility is very important for managers, since in this way they can evaluate investment projects, determine capital budgeting and make needed investment in proper conditions. According to the importance of this topic, the research tries to study the relationship between financial flexibility and investment level in the companies listed on Tehran Stock Exchange. 125 companies were investigated among the companies listed on Tehran Stock Exchange from 2009 to 2014. The result of the hypotheses states that the financial flexibility and investment and there is a significant relationship between tenure.
Keywords: financial flexibility, investment, surplus cash, auditor tenure
Volume 3, Issue 2, 2016