The Study Factors Influencing Corporate Dividend Policy of Financial and Non-Financial Firms on Companies Listed In Tehran Stock Exchange

Abstract

This study investigates factors influencing corporate dividend policy of financial and non-financial firms on companies listed in tehran stock exchange. For this purpose, dividends payable as a variable dividend policy alternatives were considered. Empirically the research data is collected from 70 firms in the Tehran Security Exchange (TSE) during 2009-2013 using the RA software and the site of the Tehran Stock Exchange were collected. Multiple regressions technique is used for examining the stated hypotheses. The results indicate that the variable size and liquidity of the company has a significant positive impact on the dividend is payable. Therefore, it can be argued that increasing the size and liquidity of the company paying the dividends by companies to increase.

Keywords: dividend policy, dividends payable, liquidity, firm size, financial leverage