The purpose of this paper is to investigate the relationship between Board composition and financial leverage of a company in which there is political connection. In this way, multilateral model of Topsis method and weighted multi-criteria model entropy index method is used to measure their political connection. In order to examine the research hypotheses, Regressions model and to estimate the models, Eviews software is applied. In this research, generally 109 companies are considered as samples about which all information is gained through analysis of stock data of Tehran's negotiable instruments organization during an eleven-year period (2001-2012). Findings of this research reveal there is no relationship between Board composition and financial leverage in companies with a great deal of political connection. In addition, there is no relationship between Board composition and financial leverage about companies in which there is little political connection. In fact, the results display that being political does not influence on the relationship between Board composition and financial leverage.
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