salimeh ariannezhad - Graduate Student, Accounting Group, Accounting Unit, Wahedan Shirabour Islamic Azad University, Neyshabour, Iran
behzad kardan - Assistant Professor, Ferdowsi University of Mashhad, Department of Accounting, Mashhad, Ferdowsi University of Mashhad, Iran
mohammad karimi - Instructor of Free University of Neyshabur Accounts Department of Wazamour Shiraz Islamic Azad University, Neishabour, Iran

Corporate governance is the set of control mechanisms within the firm and outside the firm an appropriate balance between equity required and optional on the one hand and on the other s board. Poor corporate governance can lead to an increased risk of financial crisis in the firm. The perpose this study is investigation of effect of the corporate governance structure on the financial distress of listed firms in Tehran Stock Exchange.In this regard, a sample of ۶۸ firms listed on the Tehran Stock Exchange during ۲۰۱۱ to ۲۰۱۶ were extracted. The hypotheses were tested using logit regression. The results showed that the independence of the board will reduce the likelihood of financial crisis, but major shareholders, duality CEO and ownership of property between the board there was no significant relationship with the occurrence of the financial crisis. The findings also showed that by increasing the amount of financial leverage increases the likelihood of financial crisis. In addition, the relationship between firm size was a significant negative correlation with the occurrence of the financial crisis. However, the relationship between the size of audit firm and the probability of the financial crisis were not significant

Corporate Governance, Financial Distress, Altman Model.