نوع مقاله : مقالات

نویسندگان

1 دانشگاه گیلان

2 فردوسی مشهد

چکیده

هدف از این پژوهش، بررسی تأثیر اعتمادبه‌نفس بیش‌ازحد مدیران بر مسئولیت اجتماعی شرکت در شرکت‌های پذیرفته‌شده در بورس اوراق بهادار تهران است. در این مطالعه، داده‌های مربوط به 68شرکت به‌صورت ترکیبی و برای دوره زمانی 2009 تا 2013 مورد تجزیه‌وتحلیل قرارگرفته است. همچنین برای گردآوری داده‌های موردنیاز برای آزمون فرضیه‌ها از روش اسناد کاوی استفاده شده است. برای تجزیه‌وتحلیل داده‌های توصیفی از نرم‌افزار اکسل و به‌منظور آزمون فرضیه‌ها از تحلیل رگرسیون چند متغیره، با کمک نرم‌افزار ایویوز7، استفاده شده است. فرضیه اول به بررسی تأثیر اعتمادبه‌نفس بیش‌ازحد مدیریتی بر مسئولیت اجتماعی شرکت پرداخته است. نتایج پژوهش نشان داد در دورۀ زمانی موردبررسی، اعتمادبه‌نفس بیش‌ازحد مدیریتی بر روی مسئولیت اجتماعی شرکت تأثیرگذار است. در فرضیه اصلی دوم نیز شدت تأثیر اعتمادبه‌نفس بیش‌ازحد مدیریتی بر روی دو بعد فنی و نهادی مسئولیت اجتماعی شرکت موردبررسی قرار گرفت و بعد از آزمون فرضیات فرعی اول و دوم و تأیید تأثیر معنی‌دار متغیر مستقل بر روی این دو بعد، نتایج حاصل از این فرضیه نشان داد که تأثیر اعتمادبه‌نفس بیش‌ازحد مدیریتی بر روی بعد فنی و بعد نهادی تفاوت چندانی باهم ندارند. همچنین برای کنترل اثرات سایر عوامل تأثیرگذار بر مدل، متغیرهای کنترلی نظیر اندازه و اهرم مالی و بازده دارایی‌ها در مدل استفاده شده است.

کلیدواژه‌ها

References
Adams, C. A. (2002). Internal organisational factors influencing corporate social and ethical reporting: beyond current theorizing. Accounting, Auditing & Accountability Journal, 15(2): 223–250.
Arabsalehi, M.; Sadeghi, G., & Moinuddin, M. (2013). The Relationship between social responsibility and financial performance of listed companies on tehran stock exchange. Journal of Empirical Research in Accounting, 3(9): 1-20. (in Persian)
ArabSalehi, M., Amiri, H., Kazemi Noori, S. (2014). The effect of top executives' overconfidence on the investment-cash flow sensitivity, Financial Accounting Researches, 20(2): 115-128. (in Persian)
Baker, M.; Ruback, R., & Wurgler, J. (2007). Behavioral corporate finance. handbook of corporate finance: Empirical Corporate Finance, 1:145, 86.
Barnea, A., Rubin, A. (2010). Corporate social responsibility as a conflict between shareholders, Journal of Business Ethics, 97:71-86.
Campbell, T. C.; Gallmeyer, M.; Johnson, S. A.; Rutherford J., & Stanley, B. W. (2011). CEO optimism and forced turnover, Journal of Financial Economics 101: 695-712.
Danko, D.; Jennifer S.; Stephen, R., & Grant, R. (2008). Corporate social responsibility: the united states vs. europe, The Journal of Corporate Accounting & Finance, 19(6). 41-47.
Francis, R., & Armstrong A. (2003). Ethics as a risk management strategy: the australian experience, Journal of Business Ethics, 45(4). 375-385.
Friedman, M. (1962). Capitalism and freedom, University of Chicago Press, Chicago: University of Chicago Press.
Forooqi, D.; Mirshams Shahshani, M., & Hoseini, S. (2007). The Attitude of managers to disclose information on social accounting with listed companies on Tehran stock exchange, Journal of Accounting And Auditing Reviews, 15(52): 55-70. (in Persian)
Gervais, S.; Heaton, J., & Odean, T. (2011). Overconfidence, compensation contracts and capital budgeting, The Journal of Finance, 66(5), 1735-1777.
Godfrey, P. C.; Merrill, C. B., & Hansen, J. M. (2009). The relationship between corporate social responsibility and shareholder value: an empirical test of the risk management hypothesis, Strategic Management Journal, 30: 425-445.
Goel, A. M., & Thakor, V. J. (2008). Overconfidence, CEO selection, and corporate governance, Journal of Finance Forthcoming, (63), 2737−2784.
Goss, A., & Roberts, G. S. (2011). The impact of corporate social responsibility on the cost of bank loans, Journal of Banking and Finance, 35: 1794-1810.
Hackbarth, D. (2008). CEO traits and capital structure decisions, Journal of Financial and Quantitative Analysis, 43(4): 843-881.
Heal, G. (2005). Corporate social responsibility: an economic and financial framework, The Geneva Papers 30, 387-409.
Heaton, J.B. (2002). Managerial optimism and corporate finance, Financial Management, 31: 33–45.
Hirshleifer, D. A.; Teoh, S. H., & Low, A. (2010). Are overconfident ceos better innovators? MPRA working paper 22425.
Huang, W.; Jiang, F.; Liu, Z., & Zhang, M. (2011). Agency cost, top executives' overconfidence, and investment-cash flow sensitivity- evidence from listed companies in China, Pacific-Basin Finance Journal, (19). 261-277.
Jiao, Y. (2010). Stakeholder welfare and firm value, Journal of Banking & Finance, 34: 2549-2561.
Jo, H., & Harjoto, M. A. (2012). The Causal effect of corporate governance on corporate social responsibility, Journal of Business Ethics, 106: 53-72.
Kytle, B., & Ruggie, G. R. (2005). Corporate social responsibility as risk management: a model for multinationals, working paper no. 10. cambridge, ma: john f. kennedy school of government, Harvard University.
Lin, Y. H.; Hu, S. Y., & Chen, M. S. (2005). Managerial optimism and corporate investment: some empirical evidence from Taiwan, Pacific- Basin Finance Journal, 13(5): 523-546.
Maranjury, M., & Alikhani, R. (2014). Disclosure of social responsibility and corporate governance, Journal of Accounting and Auditing Reviews, 21(3): 329-348. (in Persian)
Malmendier, U., & Tate, G. (2005). CEO overconfidence and corporate investment, Journal of Finance, 12: 110-222.
Malmendier, U.; Tate, G., & Yan, J. (2011). Overconfidence and early-life experiences: the effect of managerial traits on corporate financial policies, The Journal of Finance, 66(5): 1687-1733.
Mashayekh, SH., & Behzad Pour, S. (2014). The Effect of managers' overconfidence on dividend policy in the firms listed in Tehran stock market, The Iranian Accounting and Auditing Review, 21(4): 458-504. (in Persian)
Mattingly, J. E., & Berman, S. L. (2006). Measurement of corporate social action: discovering taxonomy in the kinder lydenburg domini ratings data, Business and Society, 45: 20-46.
McCarthy, S.; Oliver, B., & Song, S. (2014). CEO overconfidence and corporate social responsibility, working paper: UQ business school.
McWilliams, A., & Siegel, D. (2000). Corporate social responsibility and financial performance: correlation or misspecification? Strategic Management Journ. 21:603–609.
McWilliams, A., & Siegel, D. (2001). Corporate social responsibility: a theory of the firm perspective, The Academy of Management Review, 26: 117-127.
Servaes, H., & Tamayo, A. (2013). The Impact of corporate social responsibility on firm value: the role of customer awareness, Management Science, 59(5): 1045-1061.
Shafei, R., & Azizi. A, (2013). Study of corporate social responsibility in iranian universities and higher education system (an evaluating model). organizational behavior in education, 2(1): 5-22.
Shefrin, H. (2000). Beyond greed and fear: understanding behavioral finance and the psychology of investing, boston, ma: harvard business school press.
Steurer, R., & Konrad, A. (2009). Business-society relations in central-eastern and western europe: how those who lead in sustainability reporting bridge the gap in corporate social responsibility, Scandinavian Journal of Management; 25: 23-36.
Waddock, S. A., & Graves, S. B. (1997). The Corporate social performance-financial performance link, Strategic Management Journal, 18: 303-319.
Ye, B., & Yuan, J. (2008). Firm value, ceo confidence, and investments, Journal of Leadership Studies, 2(3).
CAPTCHA Image