Effect of corporate governance and characteristics of the board of directors of the company's operational liquidity

Based on the theory of representation, in this research, the effect of corporate governance and the characteristics of the board of directors on the operational liquidity of the company was investigated. According to representation theory, the effectiveness of corporate governance and the characteristics of the board of directors increase financial and operational transparency, which will reduce the undesirable choice. In companies with corporate governance and board of directors, due to the reduction of undesirable choice problems, traders will provide more stock liquidity. The features of the facilities and corporate governance mechanisms include the size of the faculty, the ratio of non-conforming members, the number of board meetings, the financial knowledge of the board members, the duality of the director's responsibility, the influence of the director, focusing ownership and institutional ownership. To test the research hypotheses, two methods of combined and cross-sectional data were used by using 89 accepted information on Tehran Stock Exchange in 1399 - 1394. The findings of the research show that there is a negative relationship between the size of the facility, the ratio of non-demonstrating members in the combination of the faculty, the number of faculty members, the financial knowledge of the members of the facilities, focusing the ownership and institutional ownership with the operational liquidity of the company, and between the dichotomy of the director of the director, the positive relationship with the company's operational liquidity. There is.