نقش تعدیل‌کننده تنوع جنسیتی هیئت‌مدیره بر رابطه بین شفافیت شرکت و بازده سهام شرکت‌های پذیرفته‌شده در بورس اوراق بهادار تهران
محورهای موضوعی : حسابداریپرنیان جمشیدی 1 , سعید علی احمدی 2
1 - دانشجوی کارشناسی ارشد گروه حسابداری، واحد اصفهان (خوراسگان)، دانشگاه آزاد اسلامی، اصفهان، ایران.
2 - دانشیار گروه حسابداری، واحد اصفهان (خوراسگان)، دانشگاه آزاد اسلامی، اصفهان، ایران. (نویسنده مسئول)
کلید واژه: بازده سهام, شفافیت شرکت, تنوع جنسیتی هیئت‌مدیره,
چکیده مقاله :
مهمترين معیار ارزيابي عملکرد موسسات در حال حاضر نرخ بازده سهام است. اين معیار به تنهايي داراي محتواي اطلاعاتي براي سرمايه‌گذاران بوده و براي ارزيابي عملکرد مورد استفاده قرار مي‌گیرد. شفافیت اطلاعات نیز می¬تواند عملکرد شرکت¬ها را تحت تاثیر قرار داده و باعث تغییرات در بازده آنها شوند. شفافیت اطلاعات مالی، سرمایه¬گذاران و مدیران را در شناسایی و ارزیابی فرصت¬هاي سرمایه¬گذاري یاري می¬کند. براي این منظور اطلاعات باید در دسترس و قابل اتکا باشند تا منابع مالی و انسانی در بخش¬هایی با بیشترین بازده سرمایه¬گذاري شوند و آنچه مورد انتظار است حاصل گردد. لذا هدف این پژوهش بررسی نقش تعدیل‌کننده تنوع جنسیتی هیئت‌مدیره بر رابطه بین شفافیت شرکت و بازده سهام شرکت‌های پذیرفته‌شده در بورس اوراق بهادار تهران است. به منظور دستيابي به اين هدف سه فرضيه تدوين شد. جهت آزمون فرضيه ها نمونه اي متشکل از 130 شرکت پذيرفته شده در بورس اوراق بهادار تهران طي سال¬هاي 1396 تا 1401 انتخاب گرديد و رگرسيون چندگانه مبتني بر داده‌هاي ترکيبي به کار برده شد. نتايج حاصل از پژوهش نشان مي¬دهد که شفافیت شرکت بر بازده سهام تاثیر مثبت دارد. اما تنوع جنسیتی هیئت مدیره بر بازده سهام تاثیر معنادار ندارد. همچنین تنوع جنسیتی هیئت مدیره رابطه بین شفافیت شرکت و بازده سهام را تعدیل نمی¬کند.
The most important criterion for evaluating the performance of institutions at present is the stock return rate. This criterion alone has informational content for investors and is used to evaluate performance. Firm opacity can also affect the performance of companies and cause changes in their efficiency. Firm opacity financial helps investors and managers in identifying and evaluate investment opportunities. For this purpose, information must be available and reliable so that financial and human resources are invested in the sectors with the highest returns and what is expected is achieved. Therefore, the purpose of this research is to examine the moderating role of board gender diversity on the relationship between firm opacity and stock returns of companies listed on the Tehran Stock Exchange. To achieve this goal, three hypotheses were formulated. To test the hypotheses, a sample consisting of 130 companies admitted to the Tehran Stock Exchange during the years 2017 to 2022 was selected and multiple regression based on composite data was used. The results of the research show that firm opacity has a positive effect on stock returns. Board gender diversity does not have a significant effect on stock returns. Also, board gender diversity does not moderate the relationship between firm opacity and stock returns.
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