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        1 - Examining the relationship between the characteristics and expertise of the board of directors and sustainability performance in companies listed on the Tehran stock exchange
        Saeed Pakdelan Alireza Azarberahman Saleh Rafiee
        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 characterist More
        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. Manuscript profile
      • Open Access Article

        2 - Investigating the Relationship between herding Behavior Bias and Value of Companies in the Chemical Products Industry of Tehran Stock Exchange
        saeed pakdelan Mohammed Hussain vadeei Alireza Azarbrahman Samira Salim
        Financial markets play a vital role in macroeconomics and sustainability. Therefore, considering this role in macroeconomics, it seems necessary to study the behavior of managers and investors regarding the tendency to imitate the actions of others and the formation of More
        Financial markets play a vital role in macroeconomics and sustainability. Therefore, considering this role in macroeconomics, it seems necessary to study the behavior of managers and investors regarding the tendency to imitate the actions of others and the formation of mass behavior and the impact of this behavior on the value of companies. The main purpose of this study is to investigate the bias of corporate mass behavior with the value of the company at the company, industry and the entire research community, which can help to develop behavioral financial issues. For this purpose, the behavioral bias of managers and investors was examined from the perspective of mass production at the company and industry levels and its effect on the value of the company was analyzed. To test the hypotheses, a sample of 44 companies active in the chemical products industry for the years 1391 to 1397 was selected and correlation and multivariate regression tests were used. The experimental results of this study indicate the existence of bias in the mass behavior of managers and investors at the industry level. The results showed that stock prices have a significant mass behavior at the company level. It was also confirmed that investor behavior bias can affect the value of the company. Finally, it was confirmed that the behavior of managers has a significant effect on the value of the company. Manuscript profile