تأثیر مالکیت، کنترل و مدیر عامل خانوادگی بر سیاست‌های تقسیم سود

نوع مقاله : مقاله پژوهشی

نویسندگان

1 دانشجوی دکتری حسابداری، واحد نجف آباد، دانشگاه آزاد اسلامی، نجف آباد، ایران

2 کارشناس ارشد حسابداری، واحد علوم تحقیقات دانشگاه آزاد اسلامی، اهواز

3 کارشناس ارشد حسابداری، دانشگاه اصفهان، ایران

چکیده

شرکت‌های خانوادگی، با ویژگی‌های مختلف در سراسر کشورها در کسب و کار جهانی نقش دارند. از طرفی با افزایش برتری کسب و کارهای خانوادگی در اقتصاد جهانی، پژوهش و مطالعه در رابطه با شرکت­های خانوادگی در دهه­ی اخیر مورد توجه زیاد پژوهشگران قرار گرفته است و جنبه‌های مختلف شرکت­های خانوادگی و سیاست‌های سازمانی شرکت­های خانوادگی مورد مطالعـه قرار گرفتـه است. مطالعه حاضر از میان جنبه‌های مختلف شرکت­های خانوادگی مالکیت خانوادگی، کنترل خانوادگی و مدیر عامل خانوادگی را انتخاب و به ارزیابی تأثیر آن‌ها بر سیاست تقسیم سود پرداخته است. از این رو 54 شرکت از بین شرکت­های پذیرفته شده در بورس اوراق بهادار تهران که نفوذ قابل ملاحظه­ای بر شرکت داشته و کنترل آنها توسط اعضای یک خانواده بوده طی بازه زمانی 1384 تا 1395 با استفاده از روش حذف نظام‌مند انتخاب گردید. شواهد پژوهش حاکی از آن است که هر چه مالکیت اعضای یک یا دو خانواده در شرکت افزایش یابد میزان سود تقسیمی روند نزولی دارد. همچنین هر چه کنترل اعضای یک یا دو خانواده بر شرکت افزایش یابد و این اشخاص حداقل 50% سهام آن شرکت را تحت تملک خود داشته باشند، میزان سود تقسیمی کاهش یافته و به سمت صفر میل می‌کند، اما نمی‌توان گفت اگر مدیر عامل از اعضای یک خانواده مالک یکی از شرکت‌های پذیرفته شده در بورس اوراق بهادار تهران باشد، میزان سود پرداختی کاهش می‌یابد.

کلیدواژه‌ها

موضوعات


عنوان مقاله [English]

The Effect of Ownership, Control and CEO of the Family on Dividend Policy

نویسندگان [English]

  • vahid bekhradi nasab 1
  • HESAM RAHMANI 2
  • fatemeh zholanezhad 3
1 Isfahan University of Technology
2 auditory institution
3 Graduate Master of Accountancy
چکیده [English]

Family companies, with different characteristics in global businesses play important role. On the other hand, increase the superiority of the family businesses in the global economy, research and study in family ownership, has attracted more attention of researcher and different characteristics of family ownership and organizational policies of family companies has been studied. The present study has focused on family ownership, family control and CEO of the family among different characteristics of family companies and has studied the effect of these factors on dividend policy. 44 companies among the companies registered on the Tehran Stock Exchange that is controlled by members of a family during the period from 2000-2017 were chosen. Findings show that whatever the ownership of one or two family members in the company increase, dividend of company decrease. Also, the control of one or two family members on the company increase, and these people have owned at least 50% stock in the company, the amount of dividend decrease.

کلیدواژه‌ها [English]

  • CEO of the family
  • Dividend policy
  • Family control
  • Family ownership
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