The purpose of this paper is to examine the selected macroeconomic variables from the perspective of moral hazard and financial constraints on the return and capital structure in listed companies in addition to macroeconomic variables, the present study seeks to investi
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The purpose of this paper is to examine the selected macroeconomic variables from the perspective of moral hazard and financial constraints on the return and capital structure in listed companies in addition to macroeconomic variables, the present study seeks to investigate and explain ethical risks and inappropriate choices in the capital market and the role of ethics in reducing it. This research is qualitative / quantitative. A number of stock exchange experts have been selected as sample respondents to the interview questions, and among the issues that determine the direction of this research and interview questions, the literature on selected macroeconomic variables, financial constraints and its effect on returns and capital structure and actors. Companies listed on the Tehran Stock Exchange. To analyze the opinions of experts, first from the grounded theory method to identify indicators, from the fuzzy Delphi method and structural equations to evaluate selected macroeconomic variables, financial constraints and its effect on return and capital structure and capital companies and activists listed on the Tehran Stock Exchange The fuzzy dimtel method was used to prioritize the indicators and monitor the factors, and the structural equations were used to examine the relationships between the variables. In the research, we also intend to show that following ethical principles and developing ethical guidelines and creating a culture for the governance of ethical values can be very effective in reducing the risks of financial markets and creating transparency, reducing the cost of supervision and enforcing laws. Also guarantee. Findings showed that financial constraints affect the severity of the impact of economic output gap on capital structure, stock returns, company size and moral hazard on stock returns.
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