International Academic Journal of Economics

  • ISSN 2454-2474

The impact of corporate governance on the relationship between investment opportunities and Dividend policy division

Monireh Faramarzi and Hajar Amini

Abstract: In this study examined the impact of corporate governance mechanisms on the relationship between the investment opportunities and sharing the policy adopted by the companies in the Stock Exchange Tehran during the same period between the 2012 - 2005 . For this research 109 accepted the number of companies in the Stock Exchange in Tehran period. To test the research hypotheses regression analysis / Fusion hybrid. The size of the company’s profitability and financial leverage control variables. Corporate governance mechanisms, including the size of the board of directors, board of directors of independence and the percentage of institutional ownership. the findings of research shows that the total companies , the impact on the level of investment opportunities on the policy of profit sharing , positive and significant effect of independence and the board and institutional % owned by on the relationship between the investment opportunities and politics , sharing the negative and significant . Results indicate that the other positive effect profitability and financial leverage as well as the negative impact on the policy of divide profits.

Keywords: corporate governance, the investment opportunities, the policy of profit sharing, the size of the board of directors, board independence, and owned by institutional and exchange firms.

Page: 10-23

Volume 1, Issue 1, 2014