bu ali sina university Journal of Applied Economics Studies in Iran 2322-2530 11 41 2022 05 22 Investigating the Effect of Energy Carrier Prices on the Investment of Iranian Industrial Enterprises Investigating the Effect of Energy Carrier Prices on the Investment of Iranian Industrial Enterprises 43 71 4385 10.22084/aes.2022.24723.3327 FA Mojtaba Abbaszadeh M.A. Student of Energy Economics, Department of Economics, Faculty of Business and Economics, Persian Gulf University, Bushehr, Iran. Reza Roshan Associate Professor, Department of Economics, Faculty of Business and Economics, Persian Gulf University, Bushehr, Iran Ebrahim Heidari Associate Professor, Department of Economics, Faculty of Business and Economics, Persian Gulf University, Bushehr, Iran. Journal Article 2021 08 12 In the present paper, a dynamic investment model with combined data related to Iranian industries with double-digit ISIC codes during the years 2009 to 2018 is estimated. The main purpose of this article is to investigate the effect of energy carrier prices and firm size on the level of investment in the industrial sector. For this purpose, a dynamic programming system and Euler equations are used. The results of show that the price of energy carriers has a negative impact on the level of investment of the firm, but its impact is very small. In other words, increasing the value of fuel consumption of firms reduces investment at the firm level. Previous period investment, industry size and industry sales also have a positive effect on firm investment. Also, the coefficient of variable combination of energy carrier prices and firm size is significant and its effect is positive and very small; In other words, it can be said that the positive effect of firm size on the negative effect of energy carrier prices has prevailed and their combined effect on investment in the current period has been positive. This indicates that investment in large industrial enterprises is not more affected by changes in energy carrier prices than small industrial enterprises. Also, investment in the stock market by industrial enterprises has shown its effect by lagged and this effect has been positive. In the present paper, a dynamic investment model with combined data related to Iranian industries with double-digit ISIC codes during the years 2009 to 2018 is estimated. The main purpose of this article is to investigate the effect of energy carrier prices and firm size on the level of investment in the industrial sector. For this purpose, a dynamic programming system and Euler equations are used. The results of show that the price of energy carriers has a negative impact on the level of investment of the firm, but its impact is very small. In other words, increasing the value of fuel consumption of firms reduces investment at the firm level. Previous period investment, industry size and industry sales also have a positive effect on firm investment. Also, the coefficient of variable combination of energy carrier prices and firm size is significant and its effect is positive and very small; In other words, it can be said that the positive effect of firm size on the negative effect of energy carrier prices has prevailed and their combined effect on investment in the current period has been positive. This indicates that investment in large industrial enterprises is not more affected by changes in energy carrier prices than small industrial enterprises. Also, investment in the stock market by industrial enterprises has shown its effect by lagged and this effect has been positive. https://aes.basu.ac.ir/article_4385_65f148c815a4ebfaf8eb150460ba94fc.pdf