The Survey of Relationship between Institutional Shareholders Percentage of Governmental Sector as One of Ownership Structure Criteria by Profit Smoothing in Accepted Companies in Tehran Stock Exchange

Abstract

Ownership structure in Iran is centralized and governmental ownership is more despite European and American zones that their ownership is usually separated. The purpose of this research is the relationship between ownership structures of governmental sector by profit smoothing in accepted companies in Tehran Stock Exchange in five-year period from 2008 to 2012 and it answers to this question whether there is significant relationship between institutional shareholders of governmental sector and profit smoothing or not? Accordingly, ownership percentage of governmental institutional shareholders as independent variable and profit smoothing as dependent variable are recognized. In this research statistical sample is including 75 companies that are used for hypotheses test of correlation coefficient by SPSS Software; the results of research show that there is a significant relationship between institutional shareholders of governmental sector and profit smoothing.

Keywords: Ownership structure, governmental institutional shareholders, profit smoothing.