Explaining the impact of corporate governance mechanisms on dividend policy in Tehran Stock Exchange

This article describes the impact of corporate governance mechanisms on dividend policy in Tehran Stock Exchange. The research method was descriptive-practical and in terms of purpose it was analytical and in terms of process and method of data collection and analysis were included in quantitative research. The statistical population of the study was all companies listed in Tehran Stock Exchange and the statistical sample consisted of 110 companies listed in Tehran Stock Exchange. The research data was collected through the financial statements and annual audited corporate documents and annual reports of the stock exchange over the 5-year period 2013 to 2018 .Multivariate regression was used to test the research hypotheses. The results showed that: 1) The separation of the CEO from the board of directors has an impact on the dividend policy of the Tehran Stock Exchange.2) The proportion of non-executive directors did not have a significant effect on dividend policy in the Tehran Stock Exchange. 3) The average shares of the board of directors influence the dividend policy of the Tehran Stock Exchange. 4) State ownership variable affect firm's dividend policy in Tehran Stock Exchange. 5) The stock of the largest shareholder of the company influences the dividend policy of the Tehran Stock Exchange. 6) The shares of the second largest shareholder of the company had no significant effect on dividend policy on the Tehran Stock Exchange. 7) The amount of floating shares in the market influences the dividend policy of the Tehran Stock Exchange.