The Impact of Corporate Social Responsibility on the Cost of Debt and Access to Debt Financing for Listed Companies on Tehran Stock Exchange

Subject Areas : Journal of Capital Market Analysis

Mostafa Hashemi Tilehnouei ¹ , Zeynab Dadashi ²

1 - Department of Management, East Tehran Branch, Islamic Azad University, Tehran, Iran
2 - Master's Degree in Financial Management, Department of Management, East Tehran Branch, Islamic Azad University, Tehran, Iran

Received: 2021-09-11 Accepted : 2022-01-11 Published : 2021-11-22

Keywords: Corporate Social Responsibility, Cost of Debt, Access to Debt Financing,

Abstract :

The increasing importance in corporate social responsibility and financing required by commercial companies to operate and participate in such issues led the purpose of this study to investigate the impact of corporate social responsibility on the cost of debt and financing through debt. This study is based on the purpose, applied and in terms of data analysis in the field of descriptive studies. The statistical population of this study has been created for all companies listed in the Tehran Stock Exchange Organization in the period 1390-1396, which, after doing restrictions in selecting companies, finally 108 companies were needed as a sample. SPSS and EVIEWS software were used to analyze the data. The results show that corporate social responsibility has a significant effect on the cost of debt and financing through payment. It was recommended that companies make appropriate investments related to the issues needed by the majority of the community and the public.