aDepartment of Management, Rasht branch, Islamic Azad University, Iran
bM.A., Business Management, Rasht branch, Islamic Azad University, Rasht, Iran
Online published on 20 February, 2014.
The present paper aims to investigate the relationship between liquidity and corporate governance in accepted companies in Tehran Stock Exchange. For this, a main hypothesis and three models are conducted which test the significance of any relationship between liquidity and corporate governance using three liquidity measures. Besides panel data is used to test research hypothesis. The research population is composed of 161 companies over the period of 2008 to 2011. Results of hypothesis analysis indicate that the main hypothesis is confirmed in the second model. Hence, there is a significant relationship between liquidity and corporate governance.
Liquidity, Amihud liquidity index, proportion of zero-return days, corporate governance, disclosure
