M.A. Thesis:

R&D, Corporate governance and market value

Today research and development spending is considered as one of the important criteria in promoting the market value of the company. Therefore, the purpose of this research is to investigate the impact of R & D expenditures and corporate governance on the value of companies admitted to the Tehran Stock Exchange. In this regard, a sample of 134 individuals from the community for a period of 6 years from 89 to 94 years were randomly selected and tested using the simultaneous equations of the research hypotheses. Research findings showed that corporate governance criteria including CEO dichotomy, board independence and board size are ineffective in research and development, but there is a linear relationship between R & D expenditures and market value. Based on theoretical foundations, corporate governance criteria through increasing R & D spending can have a positive impact on the value of the company. But according to the test, this logic has not been confirmed. In other words, corporate governance standards do not change the cost of research and development, and hence the market value of companies is not.

Keywords: