The relationship between duality, change in members, managerial ownership and Agency costs in companies listed in Tehran Stock Exchange

This paper investigates the relationship between the board size, non-bounded board members and agency costs in companies listed in Tehran Stock Exchange. A sample of 77 companies during 1384 to 1389 in the total level and the level of industries were examined. In this research, asset utilization ratio and expense ratio as dependent variables are used as proxy of agency costs and board size, non-bounded board members are Independent variables. Linear regression has been applied to test the research hypothesis at α= 5%.The results indicate no significant relationship between board size, non-bounded board members and agency costs