Abdol Ali Shahani - Department of Financial Management, Kherad Institute of Higher Education, Bushehr, Iran
Hasan Ahmadi - Department of Financial Management, Kherad Institute of Higher Education, Bushehr, Iran

The effect of the characteristics of the board of directors in choosing the debt financing model of the company by evidence from the Tehran Stock Exchange was investigated in this study. The statistical population in this study included all companies active on Tehran Stock Exchange. The method of the present research was applied in terms of purpose  and the results can be useful for managers, shareholders, investors, researchers and developers of standards. This research was descriptive exploratory in terms of data  analysis and field one in terms of data collection. A statistical sample of ۱۴۶ companies for an ۸-year period (۲۰۱۱-۲۰۱۸) was selected from Tehran Stock Exchange. Findings  showed that the significance level of the independent variable (characteristics of the board) at the specified confidence level was significantly related to choosing the debt financing mode of the company; Since the significance level of the independent variable (characteristics of the board) was less than the specified error level.

Board Characteristics, Debt Financing, Tehran Stock Exchange