TY  - JOUR
T1  - Investigating the Effect of Corporate Sovereignty Mechanisms on the
Stock Returns of Listed Companies of Tehran Stock Exchange
AU - Samimi, Saeed AU - Oskuee, Seyyed Ali Paitakhti 
JO  - International Business Management
VL  - 10
IS  - 29
SP  - 6638
EP  - 6644
PY  - 2016
DA  - 2001/08/19
SN  - 1993-5250
DO  - ibm.2016.6638.6644
UR  - https://makhillpublications.co/view-article.php?doi=ibm.2016.6638.6644
KW  - Audit quality
KW  -institutional ownership
KW  -managing director duality of responsibility
KW  -non-executive members of the board of directors
KW  -stock return
AB  - Facilitating domestic and foreign investment and the expected stock returns of shareholders are
issues that are typically important for all stakeholders of the company. The alignment of the interests of
stakeholders and managers of companies can be achieved by reducing the problems of the agency. The
decrease of these problems increases the shareholder’s interest in trading on the capital markets and results
in the increase of stock liquidity and expected return of shareholders. This study aims to explore some of the
corporate governance mechanisms on the stock returns of listed companies in Tehran Stock Exchange. The
explored governance mechanisms of the study included non-executive members of the board of directors, the
duality of responsibility of the managing director, ownership of institutional shareholders and audit quality.
To this end, 93 companies were chosen through the systematic elimination from 2007-2014 which were analyzed
using panel data regression analysis. The results of the study indicated that institutional ownership and auditor
specialization in industry had an effect on the stock return. In addition, independence of the board of directors,
managing director responsibilities and the size of audit institution had no effect on the stock return.
ER  -