Paper Title
The Effect of Different Types of Political Relations on the Investment of Companies Listed on the Tehran Stock Exchange

Abstract
Abstract - The company's political connections increase the company's investments, especially in projects whose net present value is positive and there is investment efficiency; For this purpose, in the present study, the relationship between political relations and company investment has been investigated. To achieve the research goal, 104 companies from all companies listed on the Tehran Stock Exchange for the period 2013 to 2019 were selected and using the combined data approach, research hypotheses were tested. The results show that there is only a significant relationship between the investment of government-affiliated institutions in corporate capital and investment efficiency and there is no significant relationship between the percentage of government ownership in corporate capital and net investment, investment efficiency. Also, there is no significant relationship between the investment of government-affiliated institutions in corporate capital and investment efficiency. The presence of shares of institutional and state-owned companies in companies has reduced net investment and reduced investment efficiency, and also the presence of shares of state-owned companies has no effect on reducing investment efficiency. Keywords - Political Communication, Government Ownership, Investment Efficiency.