University of Isfahan Journal of Asset Management and Financing 2383-1189 4 1 2016 05 21 The Impact of Corporate Governance System on the Unit Index of Working Capital Management Efficiency for the Companies Listed in Tehran Stock Exchange The Impact of Corporate Governance System on the Unit Index of Working Capital Management Efficiency for the Companies Listed in Tehran Stock Exchange 69 86 20633 10.22108/amf.2016.20633 FA Mohsen Dastgir Azad University Mozhgan Jalali Jalal Abadi Azad University of Najafabad Ahmad Googerdchian Isfahan University Journal Article 2016 11 21 This study investigates the effect of corporate governance mechanisms on working capital management efficiency. In this research, the variables of corporate governance mechanism consist of the percentage of institutional shareholders, CEO duality, board size, board independence and audit quality. The proxy variable for working capital management efficiency is the "working capital management efficiency index". In this respect, the data of 136 companies listed in Tehran Stock Exchange during 1386 to 1390 were studied. Multiple-regression models using pooling data are used to test the hypotheses. Findings indicate that institutional shareholders and CEO duality have positive effects on the efficiency of working capital management, but the board size, board independence and audit quality appear to have no significant effect on the efficiency of working capital management. This study investigates the effect of corporate governance mechanisms on working capital management efficiency. In this research, the variables of corporate governance mechanism consist of the percentage of institutional shareholders, CEO duality, board size, board independence and audit quality. The proxy variable for working capital management efficiency is the "working capital management efficiency index". In this respect, the data of 136 companies listed in Tehran Stock Exchange during 1386 to 1390 were studied. Multiple-regression models using pooling data are used to test the hypotheses. Findings indicate that institutional shareholders and CEO duality have positive effects on the efficiency of working capital management, but the board size, board independence and audit quality appear to have no significant effect on the efficiency of working capital management. https://amf.ui.ac.ir/article_20633_477d2df37ac3cd72f053755f626c4d65.pdf