Ownership Structure and dividend Smoothing (Experimental Evidence: Tehran Stock Exchange)

Abstract

This study examines the effect of ownership structure on dividend smoothing in listed companies in Tehran Stock Exchange. This research is an practical research. By applying multiple linear regressions and a sample of 107 firms in the period from 2007 to 2019, the effect of dependent structure and ownership concentration on dividend smoothing was tested. In this research, descriptive statistics including tables and charts, central tendencies, dispersion, distributions for describing the sample, and combined regression method were used to analyze the data related to the research aspects. Indeed the Excel software was used to extract the data and the Eviews software was used to perform statistical tests. Findings show that dependent structure and concentration of ownership increases the dividend smoothing. Based on the above findings, dividend policy of companies operating in the Iranian stock market can be considered as a uniform policy, which is conservative and to the satisfaction of shareholders.

Keywords

• investor protection
• capitalized development costs
• audit fees