Corporate Governan
Corporate
Governance and Predicting Bankruptcy of Firms Using Survival Analysis (Case
Study of Companies Listed in Tehran Stock Exchange)
Maryam Mokarami *, Zeinab
Motefares **
* Master of Accounting,
Persian Gulf International, Educational Brunch-Islamic Azad University-
Khorramshahr –Iran. E-mail: Maryam [email protected]
** Master of Accounting,
Persian Gulf International, Educational Brunch-Islamic Azad
University-Khorramshahr-Iran
Abstract: The
purpose of This Study is to Provide Evidence Associated With Corporate
Governance Role From the PRESPECTIVE That Whether Internal Mechanisms Are
Effective on Bankruptcy of Firms or not. There fore, a Sample Consisted of 76
Listed Companies in Tehran Stock Exchange Over a Nine_ year Period (1380_1388)
Was Select and Investigated. For Hypothesis Testing, Cox Regression Have Been
Used. Criteria Used for Corporate Governance are : Size of Board of Directors,
Percentage of non Executive Directors,Chief Executive Officer (CEO) Change, and
Major Ownership. Control Variables of the Study are : Firm`s Size,
Profitability, Interest Coverage Ratio, Liquidity,Financial Risk,and
Operational Rick. Results indicates a significant Relationship Between CEO Change
and Bankruptcy, However a Significant Relationship Was Not Seen Between
Percentage of non Executive Directors, Size of Board Of Directors, Major
Ownership and Bankruptcy. Corporate Governance and Predicting
Bankruptcy of Firms Using Survival Analysis (Case Study of Companies Listed in
Tehran Stock Exchange) Life Sci J 2013;10(1):1089-1095]
(ISSN:1097-8135).http://www.lifesciencesite.com.
KEYWORDS: Corporate Governance, Bankruptcy, Survival Analysis, Longitudinal Data, Tehran Stock Exchange.
