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Analysing the mediating effect of Dividend Policy on the relationship between Internal Corporate Governance Mechanism and Free Cash Flow
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Seyedmohammad Moshashaei *    1, Marziye Jafari ezoj1 |
| 1- Shafagh university |
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Abstract: (3747 Views) |
| Corporate governance is a set of methods, policies, and legal principles designed to mitigate agency problems arising from the separation of ownership and control within a company, corporate governance is a tool for balancing shareholders and managers, reducing the probability of agency problems. The purpose of this study is to analyze the mediating effect of dividend policy on the relationship between internal corporate governance mechanism and free cash flow. The statistical population of this research includes all companies listed in Tehran Stock Exchange during the period 2013-2018.For this purpose, 164 companies listed in Tehran Stock Exchange were selected. Regression was used to test the hypotheses and data were analyzed using SPSS and Eviews software. The results shows that board size has a positive and significant effect on free cash flow, but board independence and managerial ownership have no significant effect on free cash flow. Also, the mediation effect of dividend policy on the relationship between internal corporate governance mechanism (board size, board independence and managerial ownership) and free cash flow was not confirmed. |
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| Keywords: Free Cash Flow, Internal Corporate Governance mechanism, Dividend Policy. |
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Full-Text [PDF 939 kb]
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Type of Study: Research |
Subject:
Special
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