Document Type : Research Paper
Authors
Abstract
Abstract: The main objective of this study is to investigate the effect of the life cycle of the company's on dividend policy of the company which is accepted on the Tehran Stock Exchange. In this study, the ratio of dividends to the earnings per share and dividends to the company size are considered as the dependent variables and life cycle of the company is considered as independent variable. At first a statistical sample is separated by using variables, sales growth, age, and capital expenditure of the company's growth, maturity and decline then hypotheses of the study have been tested by using ANOVA and LSD tests. Analyses of 435 years - the company during the years 1386 to 1390 show that the company's dividend policy at different stages of the life cycle (growth, maturity and decline) differ. The results indicate that the average ratio of dividends to market value of equity of the sample firm's growth, maturity and decline vary. Accordingly, it is recommended to financial analysts to concern life cycle as a key factor when evaluating the current and future performance and financial structure of the company. for doing accurate analysis of financial condition and anticipated interest payments decisions, it is better to determine the company's life cycle.
Keywords
عایدات حسابداری و جریان وجوه نقد در فرایند چرخه عمر شررکت "، مجلره دانشرور رفترا ، ر
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در شرکت های پذیرفته شده در بورس اوراق بهادار تهران، مجله توسعه و سررمای ، ه ش 2، پراییز
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سود شرکت های پذیرفته شده در سازمان بورس اوراق بهادار تهران. فصرلنامه تحقیقرات مرال ، ی
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– ۵۱ شرکت" بررسی های حسابداری و حسابرس ، ی ۷۱ ، صص. ۱۹
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