M.A. Thesis:

Corporate Board Characteristics, Managerial Entrenchment and Diversification

The purpose of this research is to investigate the role of board and over investment (management management in investment) in explaining the diversification of companies in listed companies in Tehran Stock Exchange. In this regard, 146 companies were collected and extracted according to sampling constraints in the years 2012 to 2016. The data were analyzed using central criteria and scattering. In order to calculate the diversity of the company, two of the criteria of business diversification and geographical diversification are used, and in companies that both of these criteria are more than middle, the amount of corporate variation is equal to one, and in other companies zero is considered. In the inferential statistics section we have used the logistic regression model analysis based on the type of measure of the variability of the company's variation. According to Hasmere Lamshw test, the efficiency of the fitted model is within acceptable limits and the estimation of regression coefficients in the first, second and third hypotheses of the study showed that the effect of board size, the board's independence as the board's characteristics on corporate diversity has a significant effect And the duplication of the CEO has no significant effect on the diversity of the company; in the fourth hypothesis of the research, it was found that excessive investment has a reciprocal and significant effect on corporate diversity..

Keywords: Board Features, Excess Investment, Investment Management Leadership, Business diversification, Geogr