“…Various studies have addressed the issue of profitability and identifying the factors affecting it. Company's life (Rietveld and schipper, 1995), corporate governance (Bernotas, 2005), company's growth (Lin and Rowe, 2006), company's size (Cinca et al, 2005), advertisement costs (Esther, 2006), research and development costs (Verbeek and Debackere, 2006), type of industry (Acquaah and Chi, 2007), staffs' satisfaction (Yee et al, 2008), quality management (Pignanelli and Csillag, 2008), the level of staff's training and experience (Chiliya and Roberts-Lombard, 2012), working capital management (Ukaegbu, 2014), human capital reporting (Ghadiri Moghaddam et al, 2013), capital structure (Rahimian et al, 2013), economic indices (Ahmad Poor and Ebrahim Poor, 2012), growth (Khajavi et al, 2014), etc., are among effective factors on profitability that have been investigated in international studies. But in this study the effect of location on company's profitability is investigated for the first time.…”