Sticky Dividend: Explaining the Comprehensive Measurement Model and Its Impact on Corporate Governance Mechanisms

The purpose of the present study is to provide models for measuring the dividend bonding phenomenon and its impact on corporate governance mechanisms and life cycles.

In order to achieve the purpose of the study, 119 companies were selected from among the listed companies at Tehran Stock Exchange during 2011-2017 and analyzed by multiple regression method.

The results showed that there is a dividend bonding phenomenon among sample companies. It is also more severe in mature companies than in growth or decline. In addition, the presence of institutional owners and non-executive directors reduces this phenomenon. While the duality of CEO responsibility did not have a significant impact on it.

The findings of the study showed that being or not managing directors has an important role in dividend policy, but the presence of non-executive directors who have good independence and are able to deal with the CEO seriously and the presence of institutional owners The General Assembly has a constructive role in improving dividend policy.

the present study, while examining the phenomenon of dividend adhesion and its impact on corporate governance mechanisms over the lifecycle of companies, has attempted to explain the model of dividend adhesion phenomena that can be addressed by existing data. To increase knowledge. To help shareholders understand the relationship between net profit and dividend.