Purpose

This study aims to investigate the effect of the dynamics and potential of the board of directors on investment efficiency and the comparability of financial information in companies listed on the Tehran Stock Exchange.

Design/methodology/approach

The number of observations for this study includes 1,218 observations from companies listed on the Tehran Stock Exchange during 2014–2020. The authors used econometric statistical methods such as multiple linear regression, the Chow and Hausman test and the Kendall correlation coefficient using Eviews software to conduct the research. To measure the board’s effectiveness, two variables are used, including board dynamics and potential.

Findings

The results showed a positive and significant relationship between dynamics, board potential and investment efficiency. Also, no significant relationship was observed between the board dynamics and the comparability of financial information. Finally, a positive and significant relationship exists between the board’s potential and the comparability of financial information.

Originality/value

The importance of this research is the use of board proxies, including the dynamics and potential of the board. In addition, other variables of board characteristics, such as size, independence, ownership and gender, and the relationship between these variables with investment efficiency and comparability of financial information, have been examined in this study.

中文翻译：

---

董事会有效性对公司长期成功和财务信息可比性的影响

目的

本研究旨在调查德黑兰证券交易所上市公司董事会的动态和潜力对投资效率和财务信息可比性的影响。

设计/方法论/途径

本研究的观察数量包括 2014 年至 2020 年德黑兰证券交易所上市公司的 1,218 个观察。作者利用Eviews软件，采用多元线性回归、Chow和Hausman检验以及Kendall相关系数等计量经济学统计方法进行研究。为了衡量董事会的有效性，使用了两个变量，包括董事会动态和潜力。

发现

结果表明，动态、董事会潜力和投资效率之间存在显着的正相关关系。此外，董事会动态与财务信息的可比性之间没有观察到显着关系。最后，董事会的潜力与财务信息的可比性之间存在着积极且显着的关系。

原创性/价值

这项研究的重要性在于董事会代理的使用，包括董事会的动态和潜力。此外，本研究还探讨了董事会特征的其他变量，例如规模、独立性、所有权和性别，以及这些变量与投资效率和财务信息可比性之间的关系。