Investigate of the Relationship Independent Directors,Ownership Concentration,Institutional Ownership,Auditor Type and Free Floating Shares with Firm Value in Tehran Stock Exchange

Abstract

the present study seeks to examine the Relationship independent directors, ownership concentration, institutional ownership, auditor type and free floating shares with firm value  in companies listed at Tehran Stock Exchange. Independent variables used in this study are consisted of the comprises  independent directors, ownership concentration, institutional ownership, auditor type and free floating shares.Corporate value is our dependent variable measured by Tobin-Q index. Also,control variables such as firm size, leverage, and growth opportunity are used. The study is an applied research with correlative, post-event methodology. Population of the study includes 200 companies listed at Tehran Stock Exchange during 2006 to 2014 using screening method. Normal least squares regression model is used for testing hypotheses. The research results show that in Throughout the entire Companies, Concentration of ownership and institutional ownership Positive and significant correlations and Free floating shares Negative and significant correlations have with firm vlue and independent directors and auditor type No correlation with the with firm vlue.

Key words: independent directors, ownership concentration, institutional ownership, auditor type , free floating shares , firm value