Investigation the relationship between CEO Duality and Financial Performance: The role of Institutional Investors

چکیده مقاله

The control of the firm’s performance is one of the most important characteristics of corporate governance. The main purpose of this research is investigation the relationship between CEO duality and financial performance focusing on the role of institutional investors. This research consists of three hypotheses which examined using multivariate regression model based on panel data and the tests for equality of means between series. The research samples include 220 firms listed in Tehran Securities & Exchange over the period 2011 - 2015. The evidences showed that the mean value of financial performance is less in firms which have CEO duality rather than firms which have separation of duty; but there is not any significant difference between them. However, there is a significant and negative relationship between CEO duality and financial performance

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