1
Assistant Professor of Allameh Tabatabai University
2
M.A. Islamic Azad University Bushehr
Abstract
The main objective of this study is to investigate the relationship between free cash flow, dividend payments and some factors of corporate governance, including board size, board independence, CEO duality and institutional ownership with agency costs. In order to do this, due to the limitations, 95 companies listed in Tehran Stock Exchange during 1388 to 1392 (457 years-company) were selected. Statistical hypothesis testing using multiple linear regressions by generalized least squares (GLS) and was performed with panel data. For Dependent variable (agency cost) the assets turnover ratio as a measure of the quality of asset management is used. The results of this study show a significant relationship between free cash flow, dividend payments, CEO duality and institutional ownership with agency cost but a significant relationship between board size and board independence with agency cost was not found.
Sedighi, R. and poorbehi, R. (2014). Explaining Some of the Factors Affecting the Agency Costs, with an Emphasis on Asset Turnover Ratio. New Researches on Accounting, 2(5), 69-80.
MLA
Sedighi, R. , and poorbehi, R. . "Explaining Some of the Factors Affecting the Agency Costs, with an Emphasis on Asset Turnover Ratio", New Researches on Accounting, 2, 5, 2014, 69-80.
HARVARD
Sedighi, R., poorbehi, R. (2014). 'Explaining Some of the Factors Affecting the Agency Costs, with an Emphasis on Asset Turnover Ratio', New Researches on Accounting, 2(5), pp. 69-80.
CHICAGO
R. Sedighi and R. poorbehi, "Explaining Some of the Factors Affecting the Agency Costs, with an Emphasis on Asset Turnover Ratio," New Researches on Accounting, 2 5 (2014): 69-80,
VANCOUVER
Sedighi, R., poorbehi, R. Explaining Some of the Factors Affecting the Agency Costs, with an Emphasis on Asset Turnover Ratio. New Researches on Accounting, 2014; 2(5): 69-80.