عنوان مقاله [English]
Treasury stock is one of the financial strategies of management to achieve the goals of organization. The purpose of this paper is to review treasury stock, the prohibited trading of common stock in Iran, which could have many benefits for both parts of transactions according to the results of empirical studies. Since the formation of the Tehran Stock Exchange in 1967, the executives of listed firms such as the National Iranian Oil Company were allowed to use its right to redeem their shares, but after the passage of amendment of the commercial law in 1969, treasury stock was banned. However, not only treasury stock can be used in many stock exchanges worldwide, but also the volume and number of treasury stock trading and its monetary value is increasing very significantly each year. Based on the importance of treasury stock, the this paper reviews various aspects of treasury shares to introduce its consequences and discuss the effects of non-utilization of treasury stock on listed firms in Tehran Stock Exchange. To this end, we reviewed finance literature and scientific studies conducted in treasury stock and compared commercial laws in different countries.