Investigating the Effects of Corporate Governance Practices on Performance of Listed Companies related to Defense Section and Presenting Practical Suggestions

This research investigates the relationship between corporate governance and firm performance in listed companies belong to Iran's defense section. Corporate governance factors in this research includes board size, executive/non-executive directors, CEO tenure, ownership structure and auditing report. Sample of this research includes 8 companies for a period of 5 years between 1389-1393. This research will employ panel data models and Stata software in order to estimate and analyze the results. Outcomes of this research show that: Random effect model used to find the optimal accepted model. Board size, executive/non-executive directors, CEO tenure and ownership structure have meaningful and positive effect on firm performance. But auditing report is not meaningful. The model has high illustrative power and there is no effect of auto-correlation and heteroskedustesity.