جستجوی مقالات مرتبط با کلیدواژه "ownership structure" در نشریات گروه "مالی"

In this research, a new model for explaining the relationship between corporate governance and ownership structure with innovation is presented. This research, by deleting individual variables and adding new variables and determining the importance of the Delphi group, is located and They were selected for use in the model after two steps. The research was correlational and the statistical population of the study included companies listed in Tehran Stock Exchange, and the sample was screened and after the removal of Pert observations by 104 Tehran Stock Exchange companies during the period of 2011-2018. In this study, the variables of corporate governance and ownership structure are considered as independent variables. And using qualitative and quantitative combination data, multivariate regression and software spss version 20 and Eviese 7 their relationship with company innovation as dependent variable has been investigated. The results show that among the variables of corporate governance and ownership structure, ownership concentration, state ownership, and institutional ownership reduce innovation. However, the variables of the proportion of non-executive members and remuneration of the board improve the status of innovation in bourse companies. According to this model, other corporate governance variables did not have a significant effect on innovation.

Due to the increased competition among organizations and their need to adapt to legal and environmental changes, tax avoidance has attracted growing attention at the organization level. From a social point of view, corporate tax avoidance prevents the financing of projects that are necessary for society. Therefore, tax avoidance leads to severe damages for the society. This issue has caused tax avoidance to become one of the main concerns of governments. Due to the importance of tax avoidance, many research has been conducted to explore the factors affecting it. However, the role of managers in the amount of tax avoidance has been neglected in the previous research. In particular, previous studies have not analyzed mediating variables such as corporate social responsibility which has a significant impact on the motives and decision-making. The concept of corporate social responsibility has become a central paradigm in the field of corporate governance in recent decades. Our study examines the direct and indirect relationship between institutional ownership and corporate tax avoidance using corporate social responsibility as a mediating variable.

Financial structure of companies affects value of assets, stock prices and value of companies through cost of capital and net profit. The importance of this issue has stimulated opportunistic tendencies of managers to use these opportunities and apply fraudulent behaviors to guide financing structure of companies in order to protect interests of certain groups. Also, intervention of some internal and external factors limits or enhances the possibility of taking advantage of such opportunities. The purpose of this study is to explain the role and importance of some of these factors such as managers' distrust, audit quality and political communication in the process of influencing fraudulent behaviors on capital and corporate ownership structure to control the effective factors in this field. The statistical population of companies listed on the Tehran Stock Exchange and period is 2011-2021. The statistical sample of the research includes152companies and the hypotheses are tested using multivariate linear regression model and data analysis by panel method. Findings have shown that in addition to a significant positive relationship between occurrence of fraud with capital and ownership structure, the effects of moderation quality of auditing is negative and the interfering effect of Managers’ Overconfidence is increasingly on the positive relationship. Political relations do not have any moderating effects on the relationship between fraud with financial and ownership structure of companies.The results of this study emphasize the importance of audit quality and Managers’ Overconfidence and their control to manage effects of fraudulent misconduct on financing methods and capital structure of companies.

Pyramidal and network ownership structures, which give ultimate owners greater control rights over companies than cash flow rights, are prevalent in the Iranian stock market. Given the complex shareholding networks and significant changes in the ownership structures of large Iranian firms over the past two decades, this study aims to examine the relationship between ownership structure and company performance. Four measures are used to analyze ownership structure: cash flow right of the largest shareholder, wedge between control right and cash flow right of the largest shareholder, difference in cash flow rights of the two largest shareholders, and type of ownership. The study investigates their relationship with the performance and stock returns of 261 listed companies during the period of 2015 to 2020. The results indicate a positive and significant association between the cash flow right of the largest shareholder and firm performance, but only when the largest shareholder owns at least 15% of the company's shares. For firms with only one owner and less than 50% in control rights, there is no significant correlation between the cash flow right of the largest shareholder and performance. The study also reveals that ownership by insurance companies has a positive correlation with firm performance, while quasi-governmental ownerships have a negative correlation with performance.

Recent research shows that the greater the financial inclusion (financial inclusiveness), the more it leads to economic growth and financial development. For this reason, in the current era, one of the goals and objectives of policymakers, especially monetary policymakers, is the development of financial inclusion in banks, which has been discussed and emphasized a lot. However, this research also aims to examine the relationship between financial inclusion (FI) disclosure and banks' performance, emphasizing the moderating role of market competition and ownership structure. Applied research method and its data were extracted by library method. To investigate the main goal of the research, three hypotheses were formulated. The spatial scope of the research is all accepted banks in the capital market of Tehran and the temporal scope is from 1391 to 1399. The number of the research sample was 15 banks, which was determined through screening or systematic exclusion. In order to analyze the data, Eviuse software was used through multiple linear regression. The results show that disclosure of financial inclusion has a positive and significant effect on the performance of banks and market competition can play a moderating role in the relationship between these two variables. Also, the results showed that government ownership has no significant effect on the relationship between financial inclusion disclosure and bank performance.

The most important feature of joint stock companies is the separation of ownership from management and therefore the role of independent audit mechanisms on the activities of managers, in line with good corporate governance. Net profit is also influential in the decision making of users of financial statements and therefore is a potential activity for managers of profit management practices. The relationship between earnings management and audit quality is also theoretically significant. The present study investigates the simultaneous interactions between ownership structure, audit quality and profit management. In this regard, three types of real, managerial and institutional ownership in the ownership structure, the quality of independent auditing as a supervisory mechanism and real profit management in the form of three separate three-equation systems using three- and two-step least squares methods in It has been studied among 167 companies between 1392-1392. The results show that with increasing the percentage of all three types of ownership, the probability of profit management decreases and the occurrence of profit management leads to a decrease in each of the three types of ownership. Also, audit quality and ownership structures have had a significant positive effect on each other simultaneously and reciprocally. Finally, profit management and audit quality have a simultaneous negative interaction with each other and increasing each leads to reducing the other variable.

Stock liquidity is one of the main factors that affect firm value, which can be due to the behavior of major shareholders and the composition of the ownership structure of the company. this is the main motivation for this study. The research hypotheses were tested based on a statistical sample consisting of 125 companies during a 7-year period from 2014 to 2020 using multiple regression models. The results of hypothesis testing showed that there is a significant nonlinear (U-shaped) relationship between stock liquidity and corporate value. In other words, at the basic levels of liquidity (before the threshold point of 2.194), there is a negative and significant relationship between liquidity and the value of companies. However, at levels above the baseline level of liquidity, there is a positive and significant relationship between liquidity and the value of companies. Also, stocks with higher institutional owners, higher real owners, and shares of the largest shareholder should have a relatively lower level of liquidity (before the threshold point of 3.176 for institutional owners, 3.662 for real owners, and 2.988 for the largest shareholder) to trade to increase the value of the company.

This study aimed to explain the effect of adjusting information productivity and return on investment on ownership structure and strategy change with stock price volatility in Tehran Stock Exchange.In this study, the hypotheses were tested using multivariate linear regression model and econometric models.The results indicate that optimization of the property structure and the additional returns resulting from the use of acceleration and reversal strategies will have a positive and direct impact on stock price fluctuations. Increasing information efficiency (total return on a daily basis) will reduce variables related to ownership structure and stock price fluctuations, whereas the type of investment will not affect the relationship. Also, despite the unexpected effect that the surplus of strategy change will have on stock price fluctuations, information efficiency and investment returns will not be affected by this relationship.

The effect of information disclosure procedures and policies on the cost of equity capital is one of the important issues which always is considered by regulators, entities and financial and accounting researchers. This relation is affected by various contextual characteristics (e.g. ownership structures, legislating system, economy and so on). The aim of this research is to examine the effect of ownership dispersion on the relation between voluntary disclosure and cost of equity capital. In doing so, the number of 610 firms of TSE listed Company were selected via systematic screening method. Data for variables were collected from several databases, such as CODAL, Central Bank, TSE-Client 2 software, and Statistical Centre of Iran. These data were analysed by the regressions model. The evidence shows that voluntary disclosure, ownership dispersion, and their interaction have significantly negative relations with the cost of equity capital. These findings indicate that an increase in voluntary disclosure and ownership dispersion causes a decrease in cost of equity capital. In addition, ownership structure intensifies the negative effect of voluntary disclosure on the cost of equity capital.

In this research, the relationship between corporate risk taking and ownership structure is investigated. Corporate risk taking measured by the variance of ROA and ownership structure is proxied by the level of the Major shareholder owner-ship. In this regard the data of 113 Companies listed on Tehran Stock Exchange in a period from 2010 to 2015 examined. Using Regression analysis-Fixed effects method. The result indicates that, there is a significant negative relationship be-tween major shareholder ownership and risk taking; it means if major share-holder ownership increases then corporate risk taking decreases. The findings also show that being a member of business groups and the legal environment improvement have no effect on the relationship between major shareholder owner-ship and risk taking.

The present study examines the impact of corporate growth and ownership structure on the relationship between the quality of information disclosure and the external financing of companies accepted in Tehran Stock Exchange. The statistical population of the research is the companies accepted in the Tehran Stock Exchange and the research period between 2010 and 2016. Screening method was used for statistical sampling. The research method used is a descriptive post-operative method. For analyzing data, the data panel method and the hypothesis test have been used by multiple regression method. The results of the research hypothesis test indicate that the quality of information disclosure has a positive and significant effect on financing through the sale of shares and financing by obtaining a loan.Also, according to the results, the company's growth variable has a positive and significant effect on the relationship between the quality of information disclosure and external financing. According to the research findings, the institutional ownership variable has a positive and significant effect on the relationship between the quality of information disclosure and external financing , and the variable ownership concentration has a positive and meaningful effect on the relationship between the quality of information disclosure and external financing meaningful.

Banks, like other businesses, have always been trying to maximize their profits. In this regard, banks are working in a variety of ways to maximize their profits to a steady level of profit. The factors that are referred to as internal variables are mainly in the hands of banks; and banks, by choosing an optimal amount of these variables, seek to raise their profitability. Some of these factors are outside the control of banks, including macroeconomic variables. Accordingly, in this research, it has been tried to examine the effect of business cycles and the role that banks' ownership structure in these cycles can have on their profitability. For this purpose, using econometric analysis of panel data gathered during the years 2006-2017, the effect of the profitability of 18 domestic banks on business cycles has been investigated. The results show that the profitability of the whole sample has not been affected the business cycles during the period considered. But when using the ownership structure as a dummy variable, the effect of business cycles on the profitability of government banks from other banks results in the cyclicality of the profitability of these banks in the business cycle.

The conflict of interest between firm's stockholders and managers is a noteworthy concern in corporate finance discussions todays. The purpose of the present research is to investigate the effect of corporate governance criteria on performance of holding companies and subsidiaries in Tehran Stock Exchange. The study can be categorized as applied research regarding objective and descriptive and correlation research concerning research method. The study considers corporate governance criteria and market value added as research variables. Research sample contains holding companies and their subsidiaries in Tehran Stock Exchange which are selected via some criteria, including 27 holding companies and 89 subsidiaries over 2008 to 2015. For testing the research hypotheses, panel data analysis and multiple regression models are employed. The results indicate that board composition and ownership structure of holding companies significantly affect companie's performance. Moreover, holding companies performance has a significant effect on subsidiaries performance.

The purpose of this study is to investigate the big shareholders’ perspective on block divestiture of shares in business financing through propensity score matching method in Tehran stock exchange. The statistical population of this study includes all of listed companies in Tehran stock exchange. 102 companies were examined from 2003 to 2012 and their data was collected through website of Tehran stock exchange and software of Novin Rahavard. In order to test the hypotheses، Logistic regression and matching based on the attitude score methods were used. The results of this study revealed that attitudes of big shareholders toward divestiture influence business policies negatively. As a result، shareholders seek to eliminate obstacles of appropriate divestiture opportunities.

With forming Agency relationship، there is relation between the conflict between Managers and Shareholders and the managers can behave like opportunities and make decisions that are toward based on their benefits and interest and in contrast of the shareholder’s interest. The companies that are member of Stock Exchange، have different structure and in recent years، corporate governance of Harvey Company influenced upon its structure. This research was performed for studying the effect of structure of corporate Governance upon their performance in Tehran Stock Exchange، for this research، 70 active Companies in Tehran Stock Exchange at time period (2004-2010) and panel data was used. The results showed that there is not meaningful relation between ownership concentration and firm financial performance for stock exchange companies and the relation is as not hump – shaped and there is positive relation between Institutional investors and firm financial performance. JEL: G32،G34

Privatization advocates believe that transfer to private sector increases firm’s performance and value، business environment، and therefore economic growth and welfare improves. In this research، by using the 70 accepted firms in the Tehran Stock Exchange for the period of 2005 to 2009، we investigate the effect of firm’s ownership structure on their value by applying Generalized Method of Moments (GMM) and Generalized Least Squares (EGLS) methods of estimations. Ownership structure is divided into four categories including: state ownership، corporate ownership، institutional ownership and individual ownership. We use Tobin’s Q ratio as the value criterion. Kao cointegration test results confirm Long-run relationship among variables under investigation. Estimated results also show positive and significant effect of institutional and corporate ownership and don’t confirm the effect of individual ownership on firm’s value and confirm efficient monitoring hypothesis.

The role of people for managing company also this subject is very important. This research goal is determine significant between stock risk (price volatility) at popular statistic.
Research finding show that, there is significant relation between study variables so first & third hypothesis certified but second hypothesis reject.

The purpose of this paper is to analyze the effect of ownership structure on performance of listed companies in Tehran Stock Exchange (TSE). In this paper, ownership structure is considered as independent variable and TobinQ as a financial performance criterion of companies is considered as dependent variable. Data is gathered from 93 listed companies during 2004 to 2008. Data structure is panel and analysis has been done using Ordinary Least Squared (OLS) with fixed effect and Generalized Least Squared (GLS) with fixed effect. The results, using OLS show that, there is no relation between ownership structure and company’s performance, but using GLS, we have found negative linear relation between ownership percentage of shareholder with greater than 5 percent and company’s performance.