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        1 - The effect of the characteristics of the board of directors on the value creation of production companies of the Tehran Stock Exchange
        mahsa saremi nia Habibollah Nakhaei drzhajiha@gmail.com hajiha
        Abstract The purpose of this study is to investigate the effect of board characteristics with emphasis on criteria based on value creation for investors in companies listed on the Tehran Stock Exchange. In this study, the criteria of board ownership, board independence More
        Abstract The purpose of this study is to investigate the effect of board characteristics with emphasis on criteria based on value creation for investors in companies listed on the Tehran Stock Exchange. In this study, the criteria of board ownership, board independence and board size were used to assess the characteristics of the board. In terms of classification, research based on purpose is of applied type and research method is quantitative. In order to test the research hypotheses, the audited financial statements of companies and reporting the changes of 148 companies listed on the Tehran Stock Exchange during the period 2013 to 2020 were used and the required data were extracted and using the analysis method. Multivariate regression and F-Leimer, Hausmann, Bruch-Godfrey and Bruch-Pagen tests were evaluated using R software. The results of testing the hypotheses showed that between the characteristics of the board that were evaluated using the criteria of board ownership, board independence and board size with the financial performance of companies using criteria based on value creation It was found that there is a positive and significant relationship. As a result, due to the significant effect of the characteristics of the board of directors on the performance of companies, the need to pay attention to the characteristics of the board of directors is of great importance. Therefore, according to the research findings, the importance of more effective board supervision over the activities of managers is confirmed, and as a result, it should be based on the criteria of board ownership, board independence and board size, which can improve companies' performance and cause Increase the efficiency and effectiveness of board decisions in the company and increase the value of the company and create value for investors.   Manuscript profile