Investigating the relationship between ownership structure and corporate governance with productivity

Document Type : Original Article

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Abstract

The purpose of this research is to investigate the relationship between ownership structure and corporate governance with productivity for companies accepted in Tehran Stock Exchange. To achieve the purpose of the research, the sample consists 123 companies listed in Tehran Stock Exchange and the research required data during the period 2003-2012 are collected based on the data of the sample companies. This research in terms of purpose is a functional research and uses correlation approach. Also in terms of time it is an event research. Statistical analysis of data is done by “Eviews” statistical software at the %95 confidence level and for testing hypotheses, panel data statistical approach and multiple regression model are used. Based on the results of testing hypotheses, the relationship between productivity with majority shareholder ownership and CEO duality is positive and significant. Also this relationship with majority shareholders and debt ratio is negative and significant. While according to research findings there is no relationship between productivity and institutional shareholders ownership, ownership concentration, independence of the board and the time of CEO tenure on the board.

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