M.H. Botshekan; M. Rahbari Kharazi
Volume 6, Issue 22 , July 2008, , Pages 1-21
Abstract
The objective of this research is to determine the extent to which shareholders' rights are observed. To this end, a questionnaire of 26 questions was designed according to the second OECD principle of corporate governance and was distributed among the university professors, directors and CEOs of investment ...
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The objective of this research is to determine the extent to which shareholders' rights are observed. To this end, a questionnaire of 26 questions was designed according to the second OECD principle of corporate governance and was distributed among the university professors, directors and CEOs of investment companies, qualified auditors and financial experts. 108 completed questionnaires were collected and analyzed using binominal test, T student, and Friedman test for ranking. The tests showed that shareholders' rights are not observed in Tehran Stock Exchange listed companies. Subsequently, using Friedman test, the extent to which the 7 elements of shareholders rights under the present circumstances, the order of importance of these elements in view of the participants in the survey, as divided by the 4 groups of participants are determined.
Hamid Khaleghi Moghaddam; Alireza Khalegh
Volume 6, Issue 21 , April 2008, , Pages 31-60
Abstract
In this research study, we have used the Transparency and Disclosure scores set by Standard & Poors for evaluation and trend analysis of transparency of the companies listed in Tehran Stock Exchange. We have also examined the correlation of transparency scores with some factors such as: size of the ...
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In this research study, we have used the Transparency and Disclosure scores set by Standard & Poors for evaluation and trend analysis of transparency of the companies listed in Tehran Stock Exchange. We have also examined the correlation of transparency scores with some factors such as: size of the companies, leverage ratios, profitability, ownership structure, and number of independent board members. This research study indicates that the Corporate Transparency score was 28 percent in the year 2001 and increased to 32 percent in 2007. Comparison of this result with the studies performed abroad by Standard & Poors reveals the weak position of Iran in Corporate Transparency among other Asian countries, Europeans and also Latin Americans. In addition, we found a positive correlation between the Corporate Transparency and size of the companies but there was no correlation with the other factors mentioned above. Based on the results of this study, we are of the opinion that at present, the companies have no motivation for increasing the Corporate Transparency.
