Abstract
Institutional investors with a significant shareholding in corporate stocks have a lot of influence in investable companies and can influence the practices of managers. The internal functioning of social responsibility and institutional ownership can lead to i More
Abstract
Institutional investors with a significant shareholding in corporate stocks have a lot of influence in investable companies and can influence the practices of managers. The internal functioning of social responsibility and institutional ownership can lead to improved corporate position, increased efficiency, profitability, value and long-term survival of companies. By disclosing social responsibility, companies can obtain the material and non-material support of institutional investors. The purpose of this study is to investigate the effect of institutional ownership horizon on social responsibility and stock value of companies listed on the Tehran Stock Exchange during the period 2009-2010. Findings show that the long-term institutional ownership horizon has a positive and significant effect on corporate social responsibility and stock value. The results also show that the horizon of short-term institutional ownership has a negative and significant effect on social responsibility and stock value of companies. Therefore, it is important to pay attention to the type of institutional owners in better investment with less risk.
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