The Impact of Good Corporate Governance on the Relationship between Financial Performance and Sustainability of Companies Listed in Tehran Stock Exchange
Subject Areas : International Journal of Finance, Accounting and Economics Studies
abbas
yazdani
1
(MA of Student, Department of Accounting, Faculty of Management and Economic, Science and Research Branch, Islamic Azad University, Tehran, Iran)
mansoureh
aligholi
2
(Associate Professor, Department of Business Management, Centeral Tehran branch, Islamic Azad University, Tehran, Iran)
keyvan
lolaei
3
(Department of Business Management, Mahallat branch, Islamic Azad University, Mahallat, Iran)
Keywords: Good Corporate Governance, Financial Performance, Corporate Sustainability, Tehran Stock Exchange,
Abstract :
The purpose of this study was to investigate the effect of good corporate governance on the relationship between financial performance and sustainability of listed companies in Tehran Stock Exchange. The local scope of this research was the companies listed in the Tehran Stock Exchange. This research is an applied type, It can be extended to the future and it’s a kind of post-event researches. The hypotheses were tested through the results of econometric models and multivariate regression. Fisher test was used to determine the significance of the regression model. In order to investigate the significance of the coefficient of independent variables in each model, T-Student test at 95% confidence level was used. EXCEL and EVIWES software have been used for this purpose. The Durbin-Watson test was also used to investigate the lack of Autocorrelation Problem between the residual sentences. Based on systematic elimination method, 107 companies were selected as statistical sample. The results of the research hypotheses showed that there is a significant relationship between financial performance and sustainability of listed companies in Tehran Stock Exchange, and board size affects the relationship between financial performance and the sustainability of listed companies in Tehran Stock Exchange. Also, institutional investors influence the relationship between financial performance and the sustainability of listed companies in Tehran Stock Exchange.