Examining the relationship between the characteristics and expertise of the board of directors and sustainability performance in companies listed on the Tehran stock exchange

Subject Areas : Corporate Finance

Saeed  Pakdelan ¹ (Department of Accounting, Shandiz Institute Of Higher Education, Mashhad, Iran.)
Alireza  Azarberahman ² (Department of Accounting, Shandiz Institute Of Higher Education, Mashhad, Iran.)
Saleh  Rafiee ³ (Department of Accounting, Shandiz Institute Of Higher Education, Mashhad, Iran.)

Received: 2022-11-07 Accepted : 2023-03-14 Published : 2023-03-21

Keywords: Managerial Ownership, Sustainability performance, dual role of the CEO, independence of the board of directors,

Abstract :

Purpose: The corporate sustainability performance discourse has created an increasing motivation for companies to improve their competitive advantage. The present study seeks to investigate and test the relationship between board of directors' expertise and characteristics with sustainable performance in companies listed on the Tehran Stock Exchange.methodology: Among the characteristics of the board of directors, the characteristics of the dual role of the CEO, managerial ownership and independence of the board of directors were investigated. The statistical population of the research includes 63 companies admitted to the Tehran Stock Exchange during the period from 2012 to 2019. To test the hypotheses of the research, the data was analyzed using the multiple linear regression method and using Eviewse10 and Excel software.Findings: The results of the research show that there is a positive and significant relationship between managerial ownership, the dual role of the CEO, and the independence of the board of directors with sustainability performance. In fact, the level of sustainable performance is higher in companies with managerial ownership and CEO duality, independent board of directors.Originality / Value: Based on the findings of the current research, financial market activists should pay more attention to sustainability activities and their full disclosure in financial statements, and investors should also pay more attention to the analysis of They should consider the characteristics of the board of directors and audit committee for investment.

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