This study deals with one of the most important and most difficult
decisions made by the administration of any company, and which
is reflected in the distribution of profits to shareholders. The aim
of this study is to identify the policies of the
distribution of profits
and their types, highlight the factors affecting these policies, and
show the influence of these factors on the market price of
company shares.
The study aimed to test the impact of application the principles of corporate
governance relating to administrative ownership for listed companies on Damascus
Securities Exchange, The study sample included of 24 companies spread over five sectors
banking, insurance, industry, agriculture and services during the period from 2009 to 2014,
and used multiple regression to test hypotheses. The Variables studied included market
value as measured by Tobin's Q-dependent variable and all of the ownership of CEO,
board size, ownership of the Board of Directors, the independence of the Board of
Directors as independent variables and the size of the company and the proportion of debt
and the type of sectors a secondary variables. The most significant results of the study that
listed companies in Damascus Securities Exchange abide by the rules of governance,
particularly relating to administrative ownership of them. Affecting the increased market
value of the companies, which encourages investors to invest in them.
