Document Type : Case Study


1 Deputy of Education ,Tax Applied Sciences University, Mashhad, Iran

2 Director General of Tax Organization, Mashhad, Iran

3 Invited Lecturer, Tax Applied Sciences University, Mashhad, Iran


One of the main tools to extend and make deeper the capital market is promoting the level of market analysis. Without extensive and comprehensive research and analysis on the capital markets, we cannot expect to grow capital market's position in the national economy. A brief review of developments in stock companies, as a key element of the market capitalization of the economy, indicates that gap analysis has been existed on this market. But promising steps have been taken towards the use of standard indicators and methodologies for analyzing our capital markets through recent years. However, it is still common that we are far from the analyzing the capital market and we have lots of works to do on this field. In this study we investigated the relationship between conservatism and some characteristics of the board of directors (as the main strategy of the company) in order to motivate and increase the level of investments. To achieve this goal, 53 companies which are the subcategories of Mofid brokerage firm were selected for a period of 6 years (from 1385 to 1391).


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