The Effect of Specific Risk in Various Stages of the Life Cycle of Companies Listed on the Tehran Stock Exchange

Table 2

Control variables.

Notation	Description
	The company size variable is used by the natural logarithm of the total assets of company i at the end of fiscal year t.
	Return on assets of company i in period t, which is obtained by dividing the net profit by the total assets of the company.
	The financial leverage variable is calculated from the ratio of total debt to total assets of company i at the end of period t.
	The ratio of market value to the book value of company i in period t.
	The company age is obtained from the difference between the year t and the year of establishment of company i.