M.A. Thesis:

the effect cash holding and credit risk on dividend policy

The main purpose of this study, "survey of Effect of holdings cash level and Credit risk on the dividend policy of accepted companies in Tehran Stock Exchange during the period 1389 to 1393," which in this context, holdings cash level and Commercial credit as independent variables and politics of policy of corporate profits divided are as the dependent variable. Firm size, financial leverage, systemic risk and growth opportunities are the control variables. The populations are 132 firms. The method of this research is correlation description with practical approach and the methods of data collection in theoretical basis part are library method and in the hypothesis testing is mining document of financial statements. In general, the statistical method used in this study is correlational and multiple regression. According to the first hypothesis results of holdings cash level research have not significant adverse impact on dividend policy? Also according to the second hypothesis result of credit risk research on dividend profit policy of companies is significant adverse impact. The related results to the control variables showed that financial leverage variable and systemic risk are significant adverse impact on dividend policy and firm size and growth opportunities variables are significant direct impact on dividend policy.

Keywords: holdings cash level, cash, Commercial credit, dividend profit policy, systemic risk, company size