بررسي رابطه بين تركيب هيات مديره به عنوان يكي از معيارهاي راهبري شركتي، با عملكرد شركت هاي پذيرفته شده در بورس اوراق بهادار تهران

The Role of Board of Director Composition as a Corporate Governance Index in Iranian Firm Performance

This research investigates the role of some corporate governance indices on firm performance in Iranian Firm. In this paper, we use board independence and board leadership as corporate governance indices and ROA, ROE, and EPS as firm performance surrogates. Data from Tehran Stock Exchange (TSE) companies for the 2002-2006 financial years were used to test this hypothesis. We find no relation between leadership structure and Iranian firmsʹ performance. Likewise, board independence does not promote Iranian firmsʹ performance. Besides, both leadership structure and board independence together do not impact the performance of Iranian firms. Our examinations show the duality problem in 76 percent of sample firms. And, about 60 percent of directors on the board are non-executive.