Investigating the effect of optional accruals on dividend policy of companies listed on the Tehran Stock Exchange

The dividend policy is one of the most important discussions in the financial literature because dividend represents the major cash payments of companies and one of the most important choices and decisions facing managers. The main purpose of this study is to investigate the effect of voluntary accruals on dividend policy of companies listed in Tehran Stock Exchange. The dividend homeostasis was examined. The purpose of this research is descriptive and applied. In this study, Dechow et al. (1995) model was used to measure voluntary accruals. Also, the ratio of dividend to net profit after tax was used to measure dividend policy. In this study, 101 companies listed in Tehran Stock Exchange during 2011-2018 were selected as statistical sample by systematic elimination method. The research hypotheses were analyzed by using linear regression models using Eviews 10 and Excel 2010 software. The results showed that optional accruals had a positive and significant effect on dividend policy. But the moderating role of financial leverage was not significantly correlated between voluntary accruals and dividend policy.