The main aim of this paper is to study the relationship between future profits and free cash flows with dividends policy of companies listed on Tehran Stock Exchange during 2001 to 2011. In this research earnings per share of the next year, earnings per share of the two next years and free cash flows have been considered as independent variables and retained earnings to equity ratio, earnings per share in the current year, size of the company and investment opportunities have been considered as controlled variables to see their effect on dividends policy of companies.
The results obtained from analysis of 125 companies during 2002 to 2012, at the confidence level of 95%, indicate that there is a positive and significant relationship between earnings per share of the next year, earnings per share of the two next years and free cash flows with dividends ratio (dividends policy) of the companies listed on Tehran Stock Exchange.
Heidarpour, F., & Kazempour, M. (2015). The Relationship Between Future Profits and Free Cash Flows with Dividends Policy. Accounting and Auditing Research, 7(26), 58-73. doi: 10.22034/iaar.2015.103906
MLA
Farzaneh Heidarpour; Masoud Kazempour. "The Relationship Between Future Profits and Free Cash Flows with Dividends Policy". Accounting and Auditing Research, 7, 26, 2015, 58-73. doi: 10.22034/iaar.2015.103906
HARVARD
Heidarpour, F., Kazempour, M. (2015). 'The Relationship Between Future Profits and Free Cash Flows with Dividends Policy', Accounting and Auditing Research, 7(26), pp. 58-73. doi: 10.22034/iaar.2015.103906
VANCOUVER
Heidarpour, F., Kazempour, M. The Relationship Between Future Profits and Free Cash Flows with Dividends Policy. Accounting and Auditing Research, 2015; 7(26): 58-73. doi: 10.22034/iaar.2015.103906
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