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Investigating the relationship between corporate governance and product market competition on the capital structure of companies listed on the Tehran Stock Exchange
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Majid Ataee1   , Reza Abdolahnezhad2 , Ahmad Nategh golestan3 |
1- Department of Accounting, Research Sciences Branch, Islamic Azad University, Tehran, Iran. (Corresponding author) , majidataee1402@gmail.com
2- Department of Accounting, Kashmar Branch, Islamic Azad University, Kashmar, Iran.
3- Department of Management and Accounting, Mashhad Branch, Islamic Azad University, Mashhad, Iran. |
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Abstract: (9 Views) |
Today, protecting public interests, respecting shareholder rights, promoting information transparency, and requiring companies to fulfill social responsibilities are among the most important ideals that have been considered by various regulatory and executive authorities for more than a decade. Achieving these ideals requires the existence of sound regulations and appropriate executive mechanisms, the most important of which are the corporate governance system and competition in the product market. In this regard, in order to test the hypotheses using data from the financial statements of companies listed on the Stock Exchange, 85 companies were selected as a statistical sample for the period between 2008 and 2014, and using SPSS16 software and a multivariate linear regression model, the relationship between corporate governance and competition in the product market on the capital structure of companies listed on the Tehran Stock Exchange was examined.
The results of the study indicate that the relationship between corporate governance (percentage of non-executive directors, institutional ownership, and the presence of an internal auditor) and competition in the product market with capital structure is not statistically significant. Also, the relationship between managerial ownership, return on equity and company size with capital structure is significant and direct, and its relationship with return on assets is significant and inverse.
Keywords: Capital structure, corporate governance, product market competition and managerial ownership |
Article number: 5 |
| Keywords: Capital structure, corporate governance, product market competition and managerial ownership |
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Full-Text [PDF 640 kb]
(6 Downloads)
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Article type: Research |
Subject:
Special
Received: 2025/06/21 | Accepted: 2025/08/10 | Published: 2026/05/31
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