The main purpose of this study is to identify the effect of stock market scheduling theory on the capital structure of companies listed on the Tehran Stock Exchange during the years 1394 to 1398, which in this regard; The company's capital structure (equity ratio) and changes in capital structure (changes in equity ratio) as dependent variables and past market value of the company (market value to book value ratio of the previous year) are independent variables. Company size, profitability, and fixed asset ratio variables are considered as control variables. The statistical sample of the research included 112 companies. The research method is descriptive-correlation with applied approach. The method of collecting information is based on theoretical methods from the library method and in the hypothesis testing section from the method of documenting financial statements. In general, the hypothesis testing method is a multiple correlation and regression method.
According to the market timing theory, companies determine the time of issuance of shares based on the stock price in the market. Management issues stocks when the ratio of market value to corporate stock value is high. The results of the study showed that the company's past values (ratio of market value to book value) have a significant and significant effect on capital structure, changes in capital structure and issuance of shares. In general, the results of the research do not confirm the scheduling theory in Tehran Stock Exchange.