Evaluating the Relationship between Ownership Structure and Dividend Policy of Listed Companies in Tehran Stock Exchange

Ownership structure in the firms is one of the most affecting factors on the gain dividing policy. Showing the effect of difference in the exchange firm's ownership structures on their gain dividing to investors and managers is the main importance of this research. Effect of ownership structure on gain dividing policy is assessed in valuable papers exchange for 6 continuous years. Relationship of independent variables included: government ownership, management ownership, corporation ownership and dependent variables (gain dividing policy) is tried using four multi variables linear regression model including: complete adjustment model, partial adjustment model, Vad model and gain process model. Results showed relationship between government ownership and management ownership had significant positive relationship with gain dividing policy, while there is no relationship between the corporation ownership and gain dividing policy. Generally the relationship between the ownership structure and gain dividing policy was confirmed.