Providing the optimal model of total productivity based on improving the combination of ownership and supervisory efficiency of independent managers
Subject Areas : Accountingamir lalisarabi 1 , Naser Barkhordar 2 , Ghasem Zarei 3
1 - Department of Public Management, Payame Noor, Tehran, Iran University,
2 - Department of Public Management, Payame Noor, Tehran, Iran
3 - Department of Management, University of Mohaghegh Ardabili , Ardabil, Iran
Keywords: ", productivity", , ", composition of ownership, ", ", supervisory efficiency of independent managers", , ", Tehran Stock Exchange", .,
Abstract :
The aim of the current research was to present an optimal model for total productivity based on the combination of ownership and supervisory efficiency of independent managers of companies listed on the Tehran Stock Exchange. This research was a causal-post-event description in terms of its practical purpose and the method used. In order to analyze the data using the panel data method and to test the hypotheses, multiple linear regression tests were used in a sample consisting of 80 selected companies admitted to the Tehran Stock Exchange in the period of 1393-1400.The results of the estimation of the research models showed that when the variable rate of return on equity is considered as a productivity index, the composition of ownership has a significant negative effect on productivity, so that the greater the concentration of ownership in the institutional and major shareholders of the company. is, it causes a significant decrease in the productivity of companies, but the increase in the number of non-commissioned members compared to the total number of board members as an indicator of the supervisory efficiency of independent directors does not have a significant effect on productivity. The effects of financial leverage and company size on the productivity of companies were evaluated as negative and positive,. When the variable of the ratio of book value to market value is considered as a productivity index, ownership composition has a negative effect on productivity, the effect of increasing the supervisory efficiency of independent managers on productivity was evaluated significantly.
