Purpose

This study aims to assess the influence of material internal control weaknesses (ICWs) on investment in intangible assets, capital structure and commercial risk of organizations. Also, it analyses the impact of investment in intangible assets on the presence of material ICWs. This paper expects that ICWs and investment in intangible assets are interactively incorporated.

Design/methodology/approach

The statistical population of this study includes listed firms on the Tehran Stock Exchange during 2012-2017, selected using the systematic elimination method. A total of 588 firms is selected as the final sample of the study. Four hypotheses are developed to meet the study’s objectives and data analysis is carried out using the panel data method in Stata Software.

Findings

Results show that material ICWs have a positive and significant impact on investment in intangible assets and financial leverage. Moreover, this study finds that investment in intangible assets deteriorates the ICWs’ degree. However, the findings show no significant relationship between ICWs and commercial risks of companies.

Originality/value

The current study fills the gap in the literature science; there is no evidence on the subject of the study.

中文翻译：

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无形资产、资本结构和商业风险的重大内部控制弱点

目的

本研究旨在评估重大内部控制弱点 (ICW) 对无形资产投资、资本结构和组织商业风险的影响。此外，它还分析了无形资产投资对重大 ICW 存在的影响。本文期望 ICW 和无形资产投资相互结合。

设计/方法/方法

本研究的统计人群包括 2012-2017 年德黑兰证券交易所上市公司，采用系统剔除法筛选。总共选择了 588 家公司作为研究的最终样本。开发了四个假设来满足研究目标，并使用 Stata 软件中的面板数据方法进行数据分析。

发现

结果表明，重大 ICW 对无形资产投资和财务杠杆具有积极而显着的影响。此外，本研究发现无形资产的投资会恶化ICWs的程度。然而，调查结果显示 ICW 与公司的商业风险之间没有显着关系。

原创性/价值

目前的研究填补了文学科学的空白；没有关于研究主题的证据。