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Title: Effect of Corporate Governance on Dividend Policies in Listed Firms in Tehran Stock Exchange(TSE)

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Title:
Effect of Corporate Governance on Dividend Policies in Listed Firms in Tehran Stock Exchange(TSE)
Author Name:
Hamid Birjandi, Somayeh Akhavan Darabi, Masoud Birjandi
Abstract:
According to the representation literature, paying monetary interest to shareholders in one hand follows by free monetary currents reduction and reduction of investment probability in non-optimum investment projections and in the other hand incensement of continuum supervision on managers by capital market. Therefore, interest paying policy is considered as one of the benefits opposition reduction factors. So, in this research effect of corporate governance (steering system) on divided policies in listed firms in Tehran Stock Exchange (TSE) is studied. Population of this research are all of the listed firms in Tehran Stock Exchange. According to the population limitations 71 firms during 2007-2011 were studied. Research method is correlation method and research methodology is post events type (using last information). In order to study mentioned variables multi regression using compound data in constant effects method was used. Results of this research show that corporate governance mechanisms in the base of possession structure includes possession percent of managers shares, institutional possession and board of directors structure includes percent of non-bound members and presence of one of the non-bound members in directorship of board of directors have not significant effect on proportion of monetary interest payment of studying firms.
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