The aim of this study was to investigate the effect of internal factors of the company on the Tobin's Q ration and the value of companies admitted in Tehran Securities Exchange Stock Exchange with the approach of structural equation modeling. In this study the effect of corporate governance, capital structure and profit sharing policy as internal variables on corporate value was investigated. This research is practical in terms of goal. Statistical population of the present study is the companies accepted in the Tehran Stock Exchange between 2012 to 2016. Among them, 161 companies were selected as sample through systematic elimination. After finding to fit the acceptable model of ‏ measurement and structure of the research, the results showed that internal variables have a positive effect on the Tobin's Q ratio. Among the internal variables, the return-sharing policy has the most impact on the Tobin's Q ratio. The Tobin's Q ratio can mediate the relationship between local variables and the corporate value.

{"references": ["Balatbat, M., Taylor, S. L, and Walter, T. S. (2004). Corporate governance, insider ownership, and operating performance of Australian initial public offerings. Accounting and Finance Journal, 44 : 299-328.", "Fama, E. F. and Jensen, M. C. (1983). Separation of Ownership and Control. Journal of Law and Economics, 16: 301-325.", "Gonzalez, V. M. (2013). Leverage and corporate performance: International evidence, International Review of Economics and Finance, Vol. 25, pp. 169- 184.", "Javadi, N. and Fattahi (2017), Investigating the effect of managers reward on capital structure and financial performance of companies accepted in Tehran Stock Exchange. Strategic Management Magazine. Fourth year number four. PP 69-94.", "Mirzaie, H.; Khataie, M.; and Ghanbari, Y. (2013). \"Investigating the Relationship between Business Riskand Financial Risk with the Performance of Pharmaceutical Companies Listed on the Tehran Stock Exchange\", Journal of Health Accounting, Vol. 2, No. 2, pp. 77-91."]}