خلاصة:
The aim of the present research is to investigate the impact of the stages of maturity, decline, and growth of a company and the CEO's tenure on internal control weakness in companies listed on the Tehran Stock Exchange between the years 1391 and 1397. Using the systematic elimination method, a total of 165 companies (1155 company-years) were selected as the sample. In this research, multivariate regression and EViews 10 software were used to implement and test the hypotheses. The results of this research show that there is a significant positive relationship between the company growth stage and internal control weakness. There is a significant negative relationship between the company maturity stage and internal control weakness. There is a significant negative relationship between the company decline stage and internal control weakness. In companies that are in the growth stage, there is a significant negative relationship between the CEO's tenure and internal control weakness. In companies that are in the maturity stage, there is a significant positive relationship between the CEO's tenure and internal control weakness. In companies that are in the decline stage, there is a significant positive relationship between the CEO's tenure and internal control weakness.
ملخص الجهاز:
The results of this research show that there is a significant positive relationship between the growth stage of the company and internal control weakness.
Keywords: Growth, Maturity, Decline, CEO Tenure, Internal Control Weakness Introduction: According to the life cycle theory, companies have specific indicators and behaviors in different stages of the life cycle from a financial and economic perspective, meaning that the financial and economic characteristics of a company are influenced by the stage of the life cycle in which it is located.
In this research, the classification of companies into growth, maturity, and decline stages was performed using four elements: sales growth, capital expenditures, dividend payout ratio, and company age, following the method of Anthony and Ramesh and according to the methodology of Park and Chen, and the turnover rate was used as the liquidity criterion.
First, the companies in the statistical sample were classified into the growth, maturity, and decline stages; then, the liquidity level of companies in each category was examined; and finally, to test the hypotheses of this research, a test comparing central indices of more than two independent populations had to be used.
When dividing the company life cycle into five stages: introduction, growth, maturity, decline, and stagnation, the impact of internal control on company performance varies across different stages.
Growth, maturity, decline stages (LCS): To test the hypotheses in this research, we incorporate the company's position in the life cycle stages as a dummy variable in the model.
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