The Research Department of Economics and Management of Tadbir Nikan Business, Marketing, and Finance Open 3092-6238 2 Serial Number 11 2025 09 01 The Impact of Inflation and Exchange Rate on the Firm Value of Petrochemical Companies Listed on the Tehran Stock Exchange The Impact of Inflation and Exchange Rate on the Firm Value of Petrochemical Companies Listed on the Tehran Stock Exchange 1 8 10.61838/bmfopen.195 EN Journal Article 2025 03 24 <p>The petrochemical industry, as a key sector of Iran's economy, is influenced by macroeconomic variables, the identification of which is of significant importance. Accordingly, this study investigates the relationship between firm value and the variables of exchange rate and inflation by employing panel data regression models and systematic sampling of 15 petrochemical companies listed on the Tehran Stock Exchange during the period from 2018 to 2023. The findings indicate a positive and significant relationship between the firm value of petrochemical companies and both the exchange rate and inflation. Specifically, the increase in the exchange rate enhances the value of these companies by affecting foreign currency revenues and the central role of exports. Furthermore, the positive and significant effect of inflation on firm value can be attributed to the mechanism of product price adjustments and the increase in nominal revenues. These results underscore the necessity of considering macroeconomic variables in the valuation of petrochemical companies and in the decision-making processes of investors and policymakers.</p> https://www.bmfopen.com/index.php/bmfopen/article/download/195/199