age, corporate governance, and capital structure choices in companies admitted to Tehran Stock Exchange

Recognition the behavior and decisions of corporate finance is very complex and difficult because it overlooks the various factors and variables of these decisions. The composition of the sources in which corporate investments are funded by them is called the capital structure. The purpose of this research is to investigate the effect of firm's age on the relationship between corporate governance and capital structure accepted in Tehran Stock Exchange. For this purpose, a sample of 166 companies admitted to Tehran Stock Exchange for the period from 2010 to 2017 was investigated. In order to measure the firm's age from the time of the initial establishment to the present time, it has been used to calculate the corporate governance of the influential factors, including the separation of the post from the head of the board of directors, the ratio of non-executive members of the board, the amount of shares owned by institutional investors, The company, the degree of state influence and ownership, the type of auditor, and, ultimately, the model of the Modigliani and Miller model is used to calculate the company's capital structure. The hypothesis test was analyzed using multivariate regression analysis. The results show that companies with good corporate governance qualities also choose optimal capital structure but there is no significant relationship between corporate age and the relationship between corporate governance and capital structure