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بررسی رابطه بین مالکیت مدیریتی، اهرم مالی و سیاست تقسیم سود شرکتهای دارویی پذیرفته شده در بورس اوراق بهادار تهران با استفاده از معادلات همزمان | ||
حسابداری سلامت | ||
مقاله 4، دوره 4، شماره 2 - شماره پیاپی 12، تیر 1394، صفحه 60-86 اصل مقاله (368.32 K) | ||
نوع مقاله: مقاله پژوهشی | ||
شناسه دیجیتال (DOI): 10.30476/jha.2015.17116 | ||
نویسندگان | ||
وحید تقیزاده خانقاه* 1؛ دکتر یونس بادآور نهندی2 | ||
1دانشجوی دکتری حسابداری دانشگاه آزاد اسلامی واحد تبریز | ||
2استادیار حسابداری دانشگاه آزاد اسلامی واحد تبریز | ||
چکیده | ||
مقدمه: مطابق با نظریه نمایندگی افزایش مالکیت مدیریتی به همسویی تصمیمهای مدیریت با منافع سهامداران کمک میکند و رفتارهای فرصتطلبانه مدیران را محدود میکند اما رفتارهای مدیران ممکن است به میزان سود تقسیمی و اهرم مالی نیز بستگی داشته باشد. از این رو، مطالعه حاضر، بر آن است تا رابطه بین مالکیت مدیریتی، اهرم مالی و سیاست تقسیم سود را برای شرکتهای دارویی پذیرفتهشده در بورس اوراق بهادار تهران با استفاده از روش معادلات همزمان مورد بررسی قرار دهد. روش پژوهش: پژوهش حاضر، کاربردی با رویکرد پسرویدادی و طرح آن از نوع شبهتجربی است. برای دستیابی به هدفهای پژوهش، تعداد 20 شرکت دارویی به روش شبهتجربی در بازه زمانی 1391-1383 انتخاب شد. در این پژوهش از روش معادلات همزمان حداقل مربعات سه مرحلهای، دادههای ترکیبی و نرمافزار Eviews نسخه 7 برای آزمون فرضیههای پژوهش استفاده شده است. یافتهها: بین اهرم مالی و مالکیت مدیریتی شرکتها و همچنین، بین سیاست تقسیم سود و مالکیت مدیریتی شرکتها و نیز، بین سیاست تقسیم سود و اهرم مالی شرکتها رابطه متقابل منفی وجود دارد. نتیجهگیری: نتایج پژوهش نشان میدهد که بین مالکیت مدیریتی، اهرم مالی و سیاست تقسیم سود شرکتها رابطه متقابل منفی و معنادار وجود دارد. بنابراین، کاهش (افزایش) هر یک از آنها افزایش (کاهش) دو متغیر دیگر را به دنبال خواهد داشت. همچنین، مالکیت مدیریتی و سیاست تقسیم سود شرکتها روشهای جایگزین برای کاهش هزینههای جریانهای نقد آزاد محسوب میشود و نتایج پژوهش حاضر با نظریه نمایندگی سازگار است. | ||
کلیدواژهها | ||
اهرم مالی؛ سیاست تقسیم سود؛ مالکیت مدیریتی؛ نظریه علامتدهی؛ نظریه نمایندگی | ||
مراجع | ||
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