Investigating the Relationship between Social Responsibility and the Performance of the Companies Listed in Tehran Stock Exchange
Subject Areas : Business Management
Yoones Badavar Nahandi
1
,
Rasool Baradaran Hasanzadeh
2
,
Jila Jalalifar
3
1 - Assistant Professor, Department of Accounting, Tabriz Branch, Islamic Azad University, Tabriz, Iran
2 - Master of Business Administration, Faculty of Literature and Humanities, University of Guilan
3 - Graduate Student, Accounting Department, Tabriz Branch, Islamic Azad University, Tabriz, Iran
Keywords: Corporate Social Responsibility, EVA, MVA, Q-Tobin index, KZ index, ROE, Firms’ performance,
Abstract :
The purpose of this study is to examine the relationship between social responsibility and the performance of the companies listed in Tehran Stock Exchange. EVA, MVA, Q-Tobin index, KZ index, ROA and ROE are considered as performance indicators. The study was carried out from 2006 to 2010. Corporate Social Responsibility (CSR) variable has been scored using a questionnaire, and sample size includes 79 participants. Hypothesis testing has been performed at two steps: the first phase, using the data of 2010 and the second phase, using the mean of the data of 2006-2010. Multiple regression analysis (OLS) and Eviews 7 software have been used to test the hypotheses. The results show that after controlling firm size, leverage and systematic risk, there is a positive relationship between CSR and the firms’ performance.
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Seyed Javadin, S. R., & Moshfeq, M. (2008). The Effect of Staff Performance Evaluation on Performance Improvement in the University of Imam Sadiq (AS). Two Quarterly Journal of Management Thesis, 2, 95-122, (In Persian).
Saedi, S., Khalatbari, J., & Mori Abaadi, Ne. (2010). The Relationship between Quality of Work Life and Organizational Health with Job Satisfaction. Journal of Industrial / Organizational Psychology, 1(4), 55 -64, (In Persian).
Soltani, I. (2008). Self-Assessment and Improvement Tools in Human Resource Management. Isfahan: Arkan Danesh Publishing, (In Persian).
Tsoutsoura, Margarita (2004), Corporate Social Responsibility and Financial Performance, Working Paper, University of California, Haas School of Business, Berkeley, 1392/01/15 http://responsiblebusiness.haas.berkeley.edu/documents/FinalPaperonCSR_PDFII.pdf
Uadiale, Olayinka Marte & Temitope Olamide, Fagbemi (2012), Corporate Social Responsibility and Financial Performance in Developing Economies: The Nigerian Experience, Journal of Economics and Sustainable Development, Vol.3, No.4, pp 44- 54.
Wuncharoen, Chotima (2013),The Relationship between Corporate Social Responsibility and Firm Performance From The Hotel Industry of Kho samui Island, Thailand, Proceeding of 3rd Global Accounting, Finanace and Economics Conference.
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Afiff, Saffana & Samuel, P.D. Anantadjaya (2013), Csr & Performance: Any Evidence from Indonesian LQ45 ?, Review of Integrative Business & Economics Research, Vol 2 (1), pp 85-101
Brine, Matthew, Rebecca, Brown& Greg, Hackett (2007), Corporate Social Responsibility and Financial Performance in the Australian Context, Economic Roundup, Vol.31, no.4, pp 47-58.
Cheng, Beiting, Ioannis, Ioannou & George, Serafeim (2011), Corporate Social Responsibility and Access To Finance, Strategic Management Journal, VOL 34, pp 7-14
Comincioli, Nicola, Laura, Poddi & Sergio, Vergalli (2012), Corporate Social Responsibility and Firm's Performance: a strati graphical Analysis, Publication Note di Lavoro, Available at SSRN:http://ssrn.com/abstract=2132202, 1392/01/15
Garcia-Castro, Roberto, Miguel A., Ariño & Miguel A., Canela (2007), Does Social Performance Really Lead to Financial Performance? Accounting for Endogeneity, Journal of Business Ethics, Volume 92, Issue 1, pp 107-126
Ghasemi, B. (2003). Theories of Organizational Behavior. Tehran: Publishing Board, (In Persian).
Kinsman, Michel D. & Joseph A. Newman (1998), Debt tied to lower firm performance: Finding calls for review of rise in debt use, Graziadio Business Review, vol 1, issue 3.
Mirsapasi, N. (2010). Strategic Management of Human Resources and Labor Relations. Tehran: Mir Publishing, Twenty-ninth Edition, (In Persian).
Mittal, R.K., Neena, Sinha & Archana, Singh (2008), An analysis of linkage between economic value added and corporate social responsibility , Management Decision Vol. 46 No.9, pp 1437-1443. Moghimi, S. M. (2006). Organization and Management of Research Approach. Tehran: Terme Publishing, (In Persian).
Robbins, S. A. (2006). Basics of Organizational Behavior, Translation: Ali Parsaeian and Seyyed Mohammad Arabi. Tehran: Publications Office of Cultural Research , (In Persian).
Seyed Javadin, S. R. (2008). Human Resources Management and Staff Affairs. Tehran: Negah Danesh Publication, (In Persian).
Seyed Javadin, S. R., & Moshfeq, M. (2008). The Effect of Staff Performance Evaluation on Performance Improvement in the University of Imam Sadiq (AS). Two Quarterly Journal of Management Thesis, 2, 95-122, (In Persian).
Saedi, S., Khalatbari, J., & Mori Abaadi, Ne. (2010). The Relationship between Quality of Work Life and Organizational Health with Job Satisfaction. Journal of Industrial / Organizational Psychology, 1(4), 55 -64, (In Persian).
Soltani, I. (2008). Self-Assessment and Improvement Tools in Human Resource Management. Isfahan: Arkan Danesh Publishing, (In Persian).
Tsoutsoura, Margarita (2004), Corporate Social Responsibility and Financial Performance, Working Paper, University of California, Haas School of Business, Berkeley, 1392/01/15 http://responsiblebusiness.haas.berkeley.edu/documents/FinalPaperonCSR_PDFII.pdf
Uadiale, Olayinka Marte & Temitope Olamide, Fagbemi (2012), Corporate Social Responsibility and Financial Performance in Developing Economies: The Nigerian Experience, Journal of Economics and Sustainable Development, Vol.3, No.4, pp 44- 54.
Wuncharoen, Chotima (2013),The Relationship between Corporate Social Responsibility and Firm Performance From The Hotel Industry of Kho samui Island, Thailand, Proceeding of 3rd Global Accounting, Finanace and Economics Conference.