Analysis of the relationship between Corporate Governance and Economic Value Added (EVA) in Tehran Stock Exchange

Subject Areas : Management Accounting

محمد رضا اولی ¹ ( مسئول مکاتبات )
مهدی قائمی اصل ² ( ندارد )
سعیده امین زادگان ³ ( ندارد )
الناز عظیمی ⁴ ( ندارد )

Received: 2013-02-11 Accepted : 2013-06-22 Published : 2014-06-15

Keywords: economic value added, Corporate Governance Mechanism, Institutional&#x0D, &#x0D, Shareholder Ow, Panel Data Model&#x0D, &#x0D, 1,

Abstract :

The present study is based on experimental of the relationship between corporategovernance and economic value added With a sample of n = 122 firms listed in Tehran StockExchange during the period 1388 to 1385.The present study is descriptive - analytical studybased on panel data. In analyzing the data stepwise and multiple regression methods wereused and to estimate regression fixed effects, random effects and ordinary least squaresmethods were used. The results indicate that among the five elements of corporate governanceonly institutional investor ownership variable have significant and positive impacts oneconomic value added. Moreover, causality of this variable with economic value added isconfirmed by Granger causality test. Iran Khodro investment in mining and metals andSaipa, respectively, have the highest impact on corporate governance on economic valueadded.