مشخصات پژوهش

صفحه نخست /Examining the Effect of ...
عنوان
Examining the Effect of Institutional Ownership Concentration and Independence of Board Members on Preventing Financial Crisis
نوع پژوهش مقاله چاپ‌شده
کلیدواژه‌ها
Institutional Ownership Concentration, Independence of Board members, Financial Crisis
چکیده
The purpose of this study is to determine the effect of Institutional ownership concentration and board independence on preventing Financial Crisis in listed companies in Tehran Stock Exchange. The statistical sample in this research consists of 97 listed companies in Tehran Stock Exchange. The pair matching sampling was used and the study was conducted between 2006 and 2013. Altman Model, combinatory data panel, and multiple regressions were used to test the hypotheses of the research. Research findings show that independence of board has positive and significant effect on preventing financial crisis. Independent members of board help to decrease financial crisis due to their monitoring performance as independent members. Without such a monitoring role, independent members of board may abuse their position. Thus, independent members of board with specialty, independence, and necessary legal powers are taken into consideration as a potential and capable mechanism of corporate governance. Although this mechanism can decreases financial crisis, the Institutional ownership concentration has led to increase in financial crisis.
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