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Open Access Article
1 - Investigating the relationship among information asymmetry, dividend policy and ownership structure
Mohammadreza Khabazkar Foomani Ahmad SarlakThe purpose of a financial manager in dividend policy is to maximize the wealth of its owners while providing adequate funds for the company. In this research, the aim is to determine the relationship between information asymmetry, dividend policies and ownership struct MoreThe purpose of a financial manager in dividend policy is to maximize the wealth of its owners while providing adequate funds for the company. In this research, the aim is to determine the relationship between information asymmetry, dividend policies and ownership structure. After designing information asymmetry evaluation indicators, the transaction information has been collected from the Stock Exchange in the five year period of 2011-2015. A statistical sample of 155 companies was selected using a systematic elimination method, which was a total of 775 years-firm. In this research, linear regression and correlation were used to analyze the hypotheses of the research. What can be said in the summing-up and conclusion of the general test of research hypotheses is that the company with a higher information asymmetry is less likely to pay dividends, as well as government-affiliated companies with higher information asymmetry pay more dividends compared to non-governmental corporations. Finally, the results indicated that structural reform in order to increase the transparency of information leads to a positive moderating effect on the relationship between information asymmetry and dividend policies Manuscript profile -
Open Access Article
2 - The Analysis of the Existence of the Hypothesis of Adverse Selection on the Relationship between Off-balance Sheet Items and the Bank's Risk
Ahmad Sarlak Fatemeh JohariBalance sheet itself does not specify and show all the activities that a bank pays. Because banks can do many swap contracts and obligations, exchange, and commitments Outside of the balance sheet. To such activities and exchange that will not appear on the balance shee MoreBalance sheet itself does not specify and show all the activities that a bank pays. Because banks can do many swap contracts and obligations, exchange, and commitments Outside of the balance sheet. To such activities and exchange that will not appear on the balance sheet, are saying off-balance sheet activities. These items are usually reported in the notes to the attached financial statements. One of the reasons for conducting the activities of off-balance sheet by the banks is the interest rate risk coverage. However, the use of these tools for risk management leads to multiple different sorts of risk and that the overall judgment about the outcome of the risk management of the off-of-balance sheet activities has met with ambiguity. The present research has examined the relationship between risk and the items of off-balance sheet under the hypothesis of Adverse selection with the use of the Iran's nine commercial bank data. The results show that this hypothesis isn’t able to respond off- balance sheet activities behaviour in Iran Manuscript profile
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