Review of corporate governance and payment policies for approved companies on the Tehran Stock Exchange

The main purpose of corporations is to maximize shareholder wealth. One of the main factors affecting a shareholder's wealth is the company's dividend policy. For this reason, a company's dividend policy has been identified as one of the most important financial issues; therefore, this study investigates corporate governance and payment policies for listed companies on the Tehran Stock Exchange. The population of the study comprised 551 companies based on sampling and a systematic elimination of 73 companies. This study is applied in purpose and is descriptive and correlational in nature. In this study, data analysis has been conducted using SPSS 8 EVIEWS. The results span from 2009 to 2013 and indicate that there is a significant negative relationship between dividend policy and shareholders' rights as well as timeliness and being familiar with the auditor.