Structure of Board of Directors and Company’s Performance

摘要

The formation of shareholders or a board of directors’ structure is considered one of the important issues of corporate governance that impact on the motivation of managers. We shall consider that the impact of a board of directors’ ownership structure on the performance and productivity of corporate governance is a multidimensional and complicated issue. For this reason, we can expect all kinds of conflicts and contradictions of interests among people and groups, including conflicts of interest among owners and managers, shareholders and creditors, real and legal shareholders, internal and external shareholders etc. In this regard, there is extensive research about the impact of a board of directors’ ownership and managers on the performance and the value of a company within different countries and researchers have achieved different results and conflicts. Regarding a lot of research in this field, this research by using a descriptive-analytical method has studied the impact of a board of directors’ structure and features on the performance of corporate governance within companies listed on the Tehran stock exchange. The results indicate that there is a positive and significant relationship between CEO duality and a company’s performance, also there is no significant relationship between a board of directors’ adherence and a company’s performance.