Document Type : Research Paper
Abstract
, in this research the effect of mentioned principle on the value of company has been investigated as a performance dimension among 117 initial released corporations during time interval of 2003-2013 in the Tehran stock exchange.
In order to collect the data to conduct research, the software of Nevin Rehaward, audited financial statements and the hope letters of registered companies inserted in these sites of www.rdis.ir, www.tse.tmc and Kodal, and the SPSS software have been used to analyze the data.
Finally, the research results indicate that opposite to the discussed theories, there is no significant relation between principle of corporate sovereignty including the establishing an audit committee, separating the role of managing director from the director of managing board and the size of managing board with the value (performance) of initial release company. It seems that, the competition in the environment of Tehran stock exchange is not in enough amount and the structure of audit committees have mainly problems that is under supervision of those managers and the authorities written in the charter of audit committees is practically inapplicable. This perspective should be investigated until more satisfaction could be achieved to the posed claims, and could help in the success of initial release companies especially for privatization of governmental corporations.
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