The Effect of Corporate Governance Components on Dividend and Financing Policies
سال انتشار: 1394
نوع سند: مقاله ژورنالی
زبان: انگلیسی
مشاهده: 354
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شناسه ملی سند علمی:
JR_UJMAS-3-2_003
تاریخ نمایه سازی: 15 آذر 1394
چکیده مقاله:
The Purpose of This Study is to Investigate the Impact of Characteristics of Corporate Governance on Financing and Dividends Policies. In Firms Listed in Tehran Stock Exchange. to Measure the Characteristics of Corporate Governance, There Components of the Ratio of Non executive Directors, Shareholder Ownership Concentration, and Board of Directors` Size Have Been used, Also in This Study , the Index of Quantifying the Policies of Financial and Dividends Ratio, Respectively to Test Nine Hypotheses of the Study .Data on 115 Firms Listed in Tehran Stock Exchange Have BeenAnalyzed as a Sample By pooled Data Analysis for time period 1386_1389. In Order Estimate Appropriate Models of hypothesis Testing in Pooled (Panel) Data, Chaw and Houseman tests Were Used. RESUTS of the Study ,on the Whole Indicate That Hypotheses One ,two ,and Six are Confirmed at%99 Confidence Level, and Also , hypotheses There, Seven, and Nine are Rejected. In Other Words, Non Executive Directors Ratio, Shareholder Ownership Concentration, and Board of Directors Size Had a Significant Relationship With Dividend Policy. The Ratio of Non Executive Directors and Shareholder Ownership Concentration Also Had a Significant Relationship With Financing Policy
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نویسندگان
Elahe Avazzadeh
M.A Financial Management University student, Yazd University