بررسي مكانيزم هاي حاكميت شركتي بر ارزش سهام و درآمد پيش بيني شده در شركت هاي پذيرفته شده در بورس اوراق بهادار

Investigation of Corporate Governance Mechanisms on Stock Value and Forecasted Earnings in Companies Listed on the Stock Exchang

تنش بين حقوق فرد و سازمانها از مشكلات بنيادي جوامع بوده است . در سرتا سر جهان بازارهاي مالي و شركتهاي قدرتمند سهامي به نحو چشمگيري رشد ميكنند . در برابر اين رشد، بايد ابزارهاي قانوني و نظارتي هدفمند ، براي مسئوليت پذيري و پاسخگويي شركتها وجود داشته باشد.نظام حاكميت شركتي در اين چهارچوب طراحي و واكنشي به مساله نمايندگي و به جدايي مالكيت از مديريت يا به عبارتي معمولتر، جدايي مالكيت از كنترل شركتها منتهي ، و خود ناشي از دو علت عمده كه اول اين كه هر يك از مشاركت كنندگان، اهداف و ترجيحات متفاوتي دارند و دوم اينكه كه هر كدام اطلاعات كاملي در مورد اقدامات، دانش و ترجيحات ديگري ندارند.بديهي است اين تفكيك، با فرض ساز وكارهاي موثر اجرايي حاكميت شركتي، اين امكان بالقوه را به وجود مي آورد كه مديران تصميماتي را اتخاذ نمايند كه در راستاي منافع خود و عكس منافع سهامداران باشد.

Tensions between the rights of individuals and organizations have been fundamental problems in societies. Financial markets and powerful corporations are growing dramatically around the world. In the face of this growth, there must be targeted legal and regulatory tools for corporate accountability. Corporate governance is designed in the same framework. Corporate governance system is a reaction to the issue of representation and to the separation of ownership from management or, more commonly, the separation of ownership from control of companies, and is itself the result of two main causes; First, each participant has different goals and preferences. Second, each does not have complete information about the other's actions, knowledge, and preferences. Obviously, this separation, assuming effective executive mechanisms of corporate governance, creates the potential for managers to make decisions that are in line with their own interests and the opposite of the interests of shareholders. Gradually, as the authority to exercise direct sovereignty over the owners diminishes, control is transferred to other groups, such as boards and directors. It can be said that any change in the implementation of the governance structure has a great impact on the change of leadership and their performance. The relationship between corporate governance and corporate performance is an important issue in financial matters. Corporate governance aims to strengthen the atmosphere of transparency, honesty and accountability in the management of the organization. Evaluating the performance of corporate governance and examining its mechanisms is very important and has a great impact on economic decisions of companies.