Develop the principles of corporate governance for the Iran capital market

Document Type : Original Article

Authors

1 Assistant Prof, Department of Finance and Banking, Allameh Tabataba'i University, Tehran, Iran

2 Assistant Prof, Department of Finance and Banking, Allameh Tabataba'i University, Tehran, Iran.

3 Associate Prof, Department of Finance and Banking, Allameh Tabataba'i University, Tehran, Iran.

4 PhD. Candidate, Department of Finance and Banking, Allameh Tabataba'i University, Tehran, Iran.

Abstract

This research provides a model for the principles of corporate governance for the Iran capital market. After reviewing the theoretical literature on the principles of corporate governance in the world and the principles of corporate governance on the New York Stock Exchange, the London Stock Exchange and the Malaysian Stock Exchange and considering the social, economic, political and cultural conditions of Iran, a conceptual model and the research questionnaire were developed. Accordingly, the board of directors and its effectiveness, accountability, board committees and the presentation of a comprehensive company report and communication with stakeholders were selected as the principles of corporate governance. The research questionnaire was surveyed by 30 experts and its results were analyzed using triangular fuzzy delphi method and the final principles were extracted. The results of the research show that the corporate governance guidelines developed by the Iranian Stock Exchange and Securities Organization are not able to fully meet the needs of users and the components agreed upon in the present study should be used.

Keywords

References

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