An Investigation of the Relationship between Profitability and Company Reputations on Corporate Social Responsibility Disclosure in Iran

Subject Areas : Financial Economics

محبوبه  خان احمدی ¹ (گروه حسابداری، ، واحد اصفهان(خوراسگان)،دانشگاه آزاد اسلامی اصفهان، ایران)
محسن  دستگیر ² (گروه حسابداری، واحد اصفهان(خوراسگان)، دانشگاه آزاد اسلامی، اصفهان، ایران)
سعید  علی احمدی ³ (گروه حسابداری، ، واحد اصفهان (خوراسگان)، دانشگاه آزاد اسلامی اصفهان، ایران)

Received: 2021-04-06 Accepted : 2021-06-11 Published : 2021-08-23

Keywords: M39, M14, JEL Classification: M59,

Abstract :

This article aims to investigate the relationship between profitability and corporate reputation to explain the determinants of corporate social responsibility disclosure in Iran. This research has been conducted on companies listed on the Tehran Stock Exchange and based on the information of 127 companies for 2009-2018. In this paper, a multiple regression model in the form of panel data and fixed effects method has been used. The results showed that the company's profitability is a determining factor in disclosing corporate social responsibility in Iran. According to these findings, more profitable companies employed in the capital had better disclosure of social responsibility. The results showed that the company's reputation had not been a determining factor in disclosing corporate social responsibility in Iran. Well-known companies have received the benefits of performing and broadcasting social activities to the desired extent and have reached perfection in this area. Therefore, they do not see the need to disclose current activities.

References:

• بادآور نهندی.یونس، رسول برادران حسن زاده و سعید محمود زاده باغبانی. بررسی رابطه بین برخی مکانیزم های نظام راهبری شرکت ها و محافظه کاری در گزارشگری مالی.فصلنامه تحقیقات حسابداری و حسابرسی، شماره 9،  ص 130(1390)


• پورزمانی، زهرا، 1385، " حاکمیت شرکتی و پیش بینی ورشکستگی شرکت ها " ، رساله دکتری ، دانشگاه آزاد اسلامی واحد علوم وتحقیقات.


• خسرونژاد. ح، 1388،"رابطه نسبت بدهی ها واندازه شرکت با مدیریت سود" ،پایان نامه کارشناسی ارشد ، دانشگاه علامه طباطبایی.


• سیدی، علی ، 1386، " بررسی رابطه بین مشخصه های هیأت مدیره با مدیریت سود در شرکت های پذیرفته شده در بورس اوراق بهادار تهران " ، پایان نامه کارشناسی ارشد، دانشگاه تهران.


• سینایی، حسنعلی و رشیدی زاد، فاطمه(1388)؛ بررسی ارتباط بین تغییرات سهم بازار با ارزشگذاری عایدات و فرصتهای رشد آتی شرکتها.بررسیهای حسابداری و حسابرسی. دانشگاه تهران، شماره 59.


• عربصالحی، مهدی، رزیتا مویدفر و سجاد کریمی(1391). تاثیر ریسک محیط، استراتژی شرکت و ساختار سرمایه بر عملکرد شرکتهای پذیرفته شده در بورس اوراق بهادار تهران. مجله پژوهشهای حسابداری مالی. جلد 4 شماره 3. ص 47-70.


• قاسمی، قاسم (‌1384)؛ " مقایسه دقت پیش بینی سود توسط مدیریت با سری زمانی باکس – جنکیز "‌ پایان نامه کارشناسی ارشد . دانشکده حسابداری و مدیریت دانشگاه علامه طباطبایی


• مشایخ، شهناز و مریم اسماعیلی(1385) ، بررسی رابطه بین کیفیت سود و برخی از جنبه های اصول راهبری در شرکتهای پذیرفته شده در بورس تهران ، بررسی های حسابداری و حسابرسی، شماره45


• مولایی ایل ذوله، علی، نوراله زاده، نوروز، جعفری، سیده محبوبه، دارابی، رویا. (1399). بررسی رابطة مسئولیت اجتماعی شرکت و پاداش مدیران با گزارشگری متهورانه مالیاتی. اقتصاد مالی.128-101،(52)14


• ناظمی، بهروز، شریفی رنانی، حسین، دایی کریم زاده، سعید. (1399). تاثیر نرخ ارز بر عملکرد سودآوری شرکتهای بیمه (رویکردPanelVAR) اقتصاد مالی. 156-132، (53)14.


• نعمتی، علی، باغانی، علی، امام وردی، قدرت اله، دارابی، رویا، نور اله زاده، نوروز. (1398). بررسی اثر ساختار سرمایه‌ بر سودآوری شرکت‌های کشورهای جنوب شرق آسیا (بر اساس رویکرد رگرسیون پنل آستانه‌ای. اقتصاد مالی. 94-73، (46)13.


• نوروش، ایرج و علی ابراهیمی کردلر(1384) ، بررسی و تبیین رابطه ترکیب سهامداران با تقارن اطلاعات و سودمندی معیارهای حسابداری عملکرد، بررسی های حسابداری و حسابرسی، شماره 42


• نمازی، محمد و شهلا ابراهیمی(1391). بررسی ارتباط بین ساختار رقابتی بازار محصول و بازده سهام. پژوهش های حسابداری مالی. سال دوم. شماره 3


• نوروش و حسینی 1388 "بررسی رابطه بین کیفیت افشا (قابلیت اتکا و بموقع بودن) و مدیریت سود" مجله بررسیهای حسابرسی و حسابداری، شماره 55.


• نوروش، ایرج و غلامرضا کرمی(1384). حسابداری میانه 1. تهران، انتشارات کتاب نو


• مولایی ایل ذوله، علی، نوراله زاده، نوروز، جعفری، سیده محبوبه، دارابی، رویا. (1399). بررسی رابطة مسئولیت اجتماعی شرکت و پاداش مدیران با گزارشگری متهورانه مالیاتی. اقتصاد مالی، 128-101 . 14(52).


• Abu, B.A., & Ameer, R. (2011).Readability of corporate social responsibility communica-tion in Malaysia.Corporate Social Responsibility and Environmental Management,18(1), 50–60


• Álvarez Etxeberria, I.; Aldaz Odriozola, M. The social reputation of European companies: Does anti-corruptiondisclosure affect stakeholders’ perceptions?Corporate Soc. Responsib. Enviro. Manag.2018,25, 713–721.


• Aras, G., Aybars, A., & Kutlu, O. (2010).Managing corporate performance: Investigatingthe relationship between corporate social responsibility andfinancial performance inemerging markets.International Journal of Productivity and Performance Management,59(3), 229–254.


• Barzegar, The Power of God and Side Diving, Mohammad, (2015). A Study of the Relationship between the Level of Social Responsibility Disclosure and Profit Sharing Policy in Companies Listed on the Tehran Stock Exchange, Journal of Accounting, Year 7, No. 21, pp. 481-455


• Bebbington, J., Larrinaga-Gonzalez, C., & Moneva, A. J. (2008). Corporate social responsibility reporting and reputation risk management. Accounting, Auditing & Accountability Journal, 21(3), 337–362.


• Clarkson, P., Li, Y., Richardson, G., Vasvari, F., (2008). ”Revisiting the Relation Between Environmental Performance and Environmental Disclosure: an Empirical Analysis”, Acc. Organ. Soc. 33, PP. 303–327


• Cowen, S., Ferreri, F., & Parker, L. D. (1987). The impact of corporate characteristics on social responsibility disclosure: A topology and frequency based analysis. Accounting, Organisations and Society, 12(2), 111–122.


• Crisóstomo, V. L., Freire, F. D. S., & Vasconcellos, F. C. (2011). Corporate social responsibility, firm value and financial performance in Brazil. Social Responsibility Journal, 7(2), 295–309.


• Cormier, D. and Magnan, M. (2003), “Environmental reporting management: a continental Europeanperspective”, Journal of Accounting and Public Policy, Vol. 22 No. 1, pp. 43-62.


• Cormier, D., Magnan, M. and Van Velthoven, B. (2005), “Environmental disclosure quality in largeGerman companies: economic incentives, public pressures or institutional conditions?”,European Accounting Review, Vol. 14 No. 1, pp. 3-39.


• Cormier, D. and Magnan, M. (1999), “Corporate environmental disclosure strategies: determinants,costs, and benefits”, Journal of Accounting, Auditing & Finance, Vol. 14 No. 4, pp. 429-451.


• Dhaliwal, D.S., O.Z. Li, A.H. Tsang, and Y.G. Yang, (2011), ”Voluntary Disclosure and the Cost of Equity Capital: The Initiation of Corporate Social Responsibility”, The Accounting Review 86, PP. 59-100.


• Dhaliwal, D., Li, O., Tsang,A., Yang, Y., (2011), ”Voluntary Nonfinancial Disclosure and the Cost of Equity Capital: the Initiation of Corporate Social Responsibility Reporting”, Acc. Rev, 86 (1), PP. 59–72


• Elliott, W. Brooke , Stephanie M. Grant ,Kristina M. Rennekamp,(2013),” The Unintended Effect of Corporate SocialResponsibility Performance on Investors’Estimates of Fundamental Value”, THE ACCOUNTING REVIEW ,American Accounting Association, Vol. 89, No. 1 DOI: 10.2308/accr-505772014pp. 275–302


• Foroughi, D., Mir Shams Shahshahani M, Pour Hossein, S. (1387). “Managers' Attitudes Towards Disclosure of Social Accounting Information: Companies Listed on the Tehran Stock Exchange”. Accounting and Auditing Reviews, Volume 15, Number 52, Summer 2008, pp. 70-55.


• Gray, R., Javad, M., Power, D.M. and Sinclair, C.D. (2001), “Social and environmental disclosure and corporate characteristics: a research note and extension”, Journal of Business Finance &Accounting, Vol.28 Nos3‐4, pp.327-356.


• Hategan, C.amelia-Daniela, Nicoleta Sirghi2, Ruxandra-Ioana Curea-Pitorac, Vasile-Petru Hategan (2018), Doing Well or Doing Good: The Relationshipbetween Corporate Social Responsibility and Profit inRomanian Companies, Vol 11, Iss. 1, pp. 45-66,


• Hidayat, H. (2011).The Paper Industry in Japan: Its Development and Challenge.


• Hussainey, K., & Salama, A. (2010).The importance of corporate environmental reputa-tion to investors.Journal of Applied Accounting Research,11(3), 229–241

36)   Hyeli (Lina) Kim, Eunju Woo, Muzaffer Uysal, Nakyung Kwon,(2017), The effects of corporate social responsibility (CSR) on employee well-being in the hospitality industry, International Journal of Contemporary Hospitality Management, International Journal of Contemporary Hospitality Management, Vol. 30 No. 3, pp. 1584-1600. https://doi.org/10.1108/IJCHM

• Ismailpour, R. Soltani, Sh. Dostar, m. (2014). "The role of corporate social responsibility in the decision to buy consumers in the saturated market of food companies", Journal of Information Technology Management, Volume 6 - Number 4, pp. 687 - 708.


• Jalili, p. Qaisari, F., (2014), "Study of the relationship between profit quality and social responsibility of companies listed on the Tehran Stock Exchange", Auditing Knowledge in the Fourteenth Winter of 2014, No. 57, pp. 147-170


• kansal, M., & Singh, S. (2012).Measurement of corporate social performance: An Indianperspective.Social Responsibility Journal,8(4), 527–546


• Kansal, M., Joshi, M. and Singh Batra, G. (2014), “Determinants of corporate social responsibility disclosures”, Advances in Accounting, Incorporating Advances in International Accounting,Vol. 30 No. 1, pp. 217-229.


• Khlif, H., & Souissi, M. (2010). The determinants of corporate disclosure: A meta-analysis.International Journal of Accounting and Information Management, 18(3), 198–219.


• Kotonen, U. (2009), “Formal corporate social responsibility reporting in Finnish listed companies”, Journal of Applied Accounting Research, Vol. 10 No. 3, pp. 176-207.

43)   Lujun Su, Scott R. Swanson, Maxwell Hsu, Xiaohong Chen,(2017), How does perceived corporate social responsibility contribute to green consumer behavior of Chinese tourists: A hotel context, International Journal of Contemporary Hospitality Management, Volume 29 Issue 12

• Nasrasfahani, Ali and Faghani, Fatemeh, 2012, A Study of the Relationship between Social Responsibility and Organizational Reputation (Case Study: Iran Khodro Company, Conference on Modern Management Sciences, Gorgan ,,, https://civilica.com/doc/167301


• Marcia Millon Cornetta, Otgontsetseg Erhemjamtsa, Hassan Tehranian Journal of Banking and Finance, Forthcoming,A vailable at SSRN: https://ssrn.com/abstract=2333878 or http://dx.doi.org/10.2139/ssrn.2333878


• Mishra, Dev R,. Sadok El Ghoul. , Omran Guedhami. , Chuk C. Y. Kwok., (2011). Does Corporate Social Responsibility Affect the Cost of Capital?. Journal of Banking & Finance , Vol. 35, Issue 9, pp. 2388-2406.


• Murthy, V., & Abeysekera, I. (2008). Corporate social reporting practices of top Indian software firms. The Australasian Accounting Business & Finance Journal, 2(1), 36–59.


• Porwal, L., & Sharma, N. (1991). Social responsibility disclosures by Indian companies. Chartered Accountants, XXXIX(8), 630–635.


• Purushothaman, M., Tower, G., Hancock, P. and Taplin, R. (2000), “Determinants of corporate social reporting practices of listed Singapore companies”, Pacific Accounting Review, Vol. 12 No. 2,pp. 101-133.


• Oeyono, J., Samy, M., & Bampton, R. (2011). An examination of corporate social responsibility and financial performance: A study of the top 50 Indonesian listed corporations. Journal of Global Responsibility, 2(1), 100–112


• Rahman, S. (2011).Evaluation of definitions: ten dimensions of corporate social respon-sibility.World Review of Business Research,1(1), 166–176.


• Rahman, N. H., Zain, M. M., & Al-Haj, N. H. Y. (2011).CSR disclosures and its determinants:Evidence from Malaysian government link companies.Social Responsibility Journal,7(2), 181–201


• Rahman, S. (2011), “Evaluation of definitions: ten dimensions of corporate social responsibility”, World Review of Business Research, Vol. 1 No. 1, pp. 166-176.


• Rehan M., & IMRAN KHAN, M, KAMRAN KHAN., M, (2018), Effect ofCorporate Social Responsibility onProfitability ofBanks , EUROPEAN ACADEMIC RESEARCH, Vol. VI, Issue 7/ October2018,pp 18


• Roberts, R.W. (1992), “Determinants of corporate social responsibility disclosure: an application of stakeholder theory”, Accounting, Organizations and Society, Vol. 17 No. 6, pp. 595-612.


• Saleh, M., Zulkifli, N., & Muhamad, R. (2010).Corporate social responsibility disclosureand its relation on institutional ownership: Evidence from public listed companiesin Malaysia.Managerial Auditing Journal,25(6), 591–613


• Servaes, H., Tamayo, Ane .(2013).” The Impact of Corporate Social Responsibility on Firm Value: The Role of Customer Awareness” , Management Science, Volume 59, Issue 5, Pages iv-1254


• Shane, P. B., & Spicer, B. H. (1983). Market response to environmental information produced outside the firm. Accounting Review, 521–538.


• Siregar, S., & Bachtiar, Y. (2010). Corporate social reporting: Empirical evidence from Indonesia Stock Exchange. International Journal of Islamic and Middle Eastern Finance and Management, 3(3), 241–252


• Sungbeen Park, Sujin Song, Seoki Lee.(2017), The influence of CEOs’ equity-based compensation on restaurant firms’ CSR initiatives: The moderating role of institutional ownership, International Journal of Contemporary Hospitality Management,International Journal of Contemporary Hospitality Management, vol. 31 no. 9


• Van der Laan Smith, J., Adhikari, A. and Tondkar, R.H. (2005), “Exploring differences in social disclosures internally: A stakeholder perspective”, Journal of Accounting and Public Policy, Vol. 24, pp. 123-151.


• Xiang Zhang , Lei Zhang , Ka Yip Fung , Gade Pandu Rangaiah ,Ka Ming Ng,(2017), Impact of Government Policy and ConsumerPreference on Company Profit and Corporate Social Responsibility, Computers and Chemical Engineering, Volume 118, 4 October 2018, Pages 118-131


• Zhang, K. and Wen, Z. (2008), “Review and challenge of policies of environmental protection and sustainable development in China”, Journal of Environmental Management, Vol. 88,pp. 1249-1261

 

 

 

 

 

 

یادداشت‌ها