چکیده:
The aim of the present research is to examine the relationship between corporate governance mechanisms and inventory management efficiency in companies listed on the Tehran Stock Exchange. Ownership structure variables (corporate ownership, managerial ownership, institutional ownership, and ownership concentration) and board composition (board size, percentage of non-executive board members, and CEO duality) were used as measures of corporate governance, and the average ratio of inventory to sales was used as a measure of inventory management efficiency. The statistical population of this research includes 75 companies listed on the Tehran Stock Exchange in the period from 1384 to 1390. Multiple linear regression statistical analysis was used to test the research hypotheses. The research findings show that there is a direct and significant relationship between corporate ownership, managerial ownership, and institutional ownership with inventory management efficiency, but no significant relationship was observed between ownership concentration and inventory management efficiency. Additionally, the relationship between board size variables and inventory management efficiency is direct and significant, while the relationship between CEO duality and the percentage of non-executive board members with the companies' inventory management efficiency is inverse and significant.
خلاصه ماشینی:
Their research results show that among various corporate governance mechanisms, including the number of board members, the number and adequacy of non-executive directors, the separation of the CEO's duties from the chairman of the board or his membership on the board, ownership structure, and the existence of internal auditing, there is no significant relationship with earnings management.
Abbreviations of variables used in the research models Variable Name Abbreviation Variable Name Abbreviation Institutional Ownership IO CEO Duality RAC Managerial Ownership MO Inventory Management Efficiency INVEN Corporate Ownership FO Company Growth GROWTH Ownership Concentration OC Company Size SIZE Board Size BS Leverage Ratio LEV Percentage of Non-Executive Board Members PBND Profitability EBITD Research Findings Investigation of Multicollinearity Problem When multicollinearity exists among the independent variables in the studied data, regression results cannot be relied upon, and multivariate linear regression cannot be used.
Regression test results for the first sub-hypothesis INVENi,t= α0+IOi,t+ GROWTHi,t+ SIZEi,t+ LEVi,t+ EBITDi,t Estimated Value Standardized Coefficient t-statistic Significance Level F-statistic Significance Level R2adj Durbin-Watson Statistic Constant -2/395*106 - -10/206 - IO 13571 0/083 2/503 0/013 GROWTH 7245 0/014 0/422 0/00 81/72 / /441 1/639 SIZE 170818 0/375 9/417 0/00 5 000 0 LEV 551451 0/208 6/087 0/00 EBITD 0/446 0/368 9/204 0/0003 Second Sub-Hypothesis: There is a significant relationship between corporate ownership and the inventory management efficiency of companies.
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