جستجوی مقالات مرتبط با کلیدواژه "اعضای غیرموظف هیئت مدیره" در نشریات گروه "علوم انسانی"

This study attempts to investigate the impacts of several corporate governance mechanisms on two alternative proxies for agency costs, namely the ratio of total sales to total assets (asset turnover) and the ratio of selling, general and administrative expenses to total sales (SG&A). Agency costs, non-executive directors on the board, and institutional investors are dependent variables. The analysis is conducted by a cross-sectional regression approach. Findings of the research are different in regard to measuring scales of agency costs. There is significant relationship between non-executive directors and agency costs, in regard to asset turnover as a measuring scale, but this is not a significant relationship for institutional investors. By using the ratio of operational expenses to sales as measuring scale of agency costs, there is not also significant relationship between non-executive directors and agency costs, but this is significant relationship for institutional investors. In regard to combination of reverse ratio of asset turnover and ratio of operational expenses to sales as measuring scales of agency costs, there is significant relationship between non-executive directors and institutional investors with agency costs.

Dividend issue has long been regarded by financial and accounting researchers. There are many reasons for paying or not-paying dividend. Accurate detection and identification of factors affecting the dividend policy can be useful for corporate managers and shareholders. Thus، the purpose of present study is to determine the relationship between selected variables and dividend policy in companies listed on Tehran stock Exchange. This study seeks to provide a new view on the importance، quality and quantity of dividend policy. It also reviews the effect of board of directors، return on assets، free cash flows per share، asset structure، business risk، firm size، growth opportunities and debt level on the dividend ratio and probability of dividend payout. The study’s sample consisted of 101 firms listed on Tehran Stock Exchange (TSE) from 2004 to 2009. The statistical method of analysis incorporates tobit regression model and logit regression model for panel data. The findings revealed that between regarded factors، firm size، growth opportunities and debt level have significant effects on the dividend ratio and probability of dividend payout and other regarded variables do not have significant effect on dividend ratio and probability of dividend pay out.

In this study, we examine the relation between management earnings forecast errors with corporate governance structure of listed companies in Tehran Bourse. We should mention that corporate governance structure which are studied here are: The percent ownership of board members, the number of board members, the number of non-executive board members and Growth opportunity. The numbers of statistic community are 363companies in Tehran Bourse which due to the limitation of this study we select just 146 companies from these statistic communities during 1383-1387. For preparation the literature and the history of this survey we use the information from Financial Statement, Tadbir pardaz soft ware, Bourse library and Tehran Bourse archives. For testing hypothesis we use Pearson coefficient of correlation and multi variable Regression model. The result shows that there are positive relations between the percent ownership of board members, the number of board members and the number of non-executive board members with accuracy of management earnings forecast, while there is a negative relation between Growth opportunities with accuracy of management earnings forecast. Testing hypotheses show that all of the survey hypotheses are confirmed.

The basic philosophy behind creating a corporate leadership system is representation issues or the conflict of interests between the directors and shareholders. A number of mechanisms have been considered in the financial literature to reduce the problems of representation; one of the outstanding mechanisms is the corporate leadership system. This paper studies the relationship between some board characteristics, as one of the mechanisms of the corporate leadership, and the corporate capital structures. Therefore, 90 corporations accepted in Tehran Stock Exchange within 2002-2008 were selected as statistical sample. This research studies the size of board of directors, managing director’s dual responsibility, the percentage of board’s out-of-duty directors as ‘independent variables’ and debt ratio (capital structure criterion) as ‘dependent variable’. A multi-variable regression model was fitted using compositional data with the aim of testing the hypothesis. The results show that debt amount is increased in the corporations in which the functions of board chairman and managing director are not separated as well as in the corporations with less number of board members. There is no significant relationship between out-of-duty directors ratio and capital structure.