International Journal of Nonlinear Analysis and Applications

Presenting a model for social responsibility information disclosure with the foundation data theory approach in companies listed on the Tehran Stock Exchange

Document Type : Research Paper

Authors

1 Department of Accounting, Qeshm Branch, Islamic Azad University, Qeshm, Iran

2 Department of Financial Management, Faculty of Management and Economics, Science and Research Branch, Islamic Azad University, Tehran, Iran

3 Department of Financial Management, Qeshm Branch, Islamic Azad University, Qeshm, Iran

Abstract

This study is aimed at presenting a Model for Social Responsibility Information Disclosure through a data theory approach in companies listed on the Tehran Stock Exchange. This research is an exploratory mix (qualitative and quantitative) in terms of applied purpose, and it is of the database type (qualitative stage) and cross-sectional survey (quantitative stage) in terms of research method. The statistical population in the qualitative section includes 12 experts in the field of accounting, auditing, and financial management who are chosen through the snowball sampling method and the quantitative section of 2184 managers and experts of companies mentioned on the Tehran Stock Exchange (petrochemical companies) in 2020. 317 people were selected by simple random sampling using Cochran's formula. In the qualitative part of the exploratory interview and in the quantitative part, the data collection tool was semi-structured and a questionnaire, respectively. Data analysis in the qualitative domain which is based on open, axial, and selective coding, and in the quantitative domain was done through factor analysis and the Friedman test. The results of the qualitative part concerning the Social Responsibility Information Disclosure indicated that the most vital causal conditions which led to the social responsibility disclosure information included 4 components; i.e. economic utilitarianism, legal requirements, political influence, and managerial personality. The most important contextual conditions that led to the social responsibility disclosure of information included the four components, research areas, educational areas, government regulations, and technological factors. On the other hand, the most important intervening conditions which led to the social responsibility disclosure of information contained 6 components; i.e. market factors, media climate, economic-political factors, cultural-social factors, international factors, and environmental factors. Also, the most important strategies that led to the social responsibility disclosure of information included the three components of cultural affairs, social affairs, and the implementation of appropriate government policies. Finally, the most important consequences that led to the social responsibility disclosure information contained the five components: credit sustainability, corporate sustainability, environmental sustainability, sustainability of political influence, and capital growth. In the quantitative part, the results showed that in social responsibility disclosure information, the highest rank is related to the causal factor with an average rank of 4.34 and the lowest average rank is related to the intervening condition with an average rank of 2.50.

Keywords

[1] J.A. Correa-Garc´ıa, M.A. Garc´ıa-Benau and E. Garc´ıa-Meca, Corporate governance and its implications for sustainability reporting quality in Latin American business groups, J. Cleaner Prod. 260 (2020), 121142.
[2] F. Darvishi and R. Fallah, Investigating the effect of corporate governance disclosure on the market risk of companies listed on the Tehran Stock Exchange, First Int. Conf. Manag. Account. Value Creation Approach, 2015.
[3] Q. Falah and M. Qajari, Impact of company characteristics, company size (social responsibility disclosure of selected companies on Tehran Stock Exchange), 3rd Int. Conf. New Res. Manag. Econ. Dev., 2018.
[4] S. Khajavi, The effect of the level of voluntary disclosure on information asymmetry, Master Thesis, Shiraz University, 2014.
[5] G. Kurdistani, S.K. Qaderzadeh and H. Haghighat, Identification and ranking of factors affecting the level of disclosure - social responsibility of companies with a data mining approach, Appl. Res. Financ. Report. 6 (2017), no. 1, 7–46.
[6] A. Lioui and Z. Sharma, Environmental corporate social responsibility and financial performance: Disentangling direct and indirect effects, Ecologic. Econ. 78 (2012), 100–111.
[7] M. Molaei, The effect of voluntary disclosure of information on earnings management in companies listed on the Tehran Stock Exchange, Islamic Azad University, Shahroud Branch, 2017.
[8] M. Mowlawi, The effect of voluntary disclosure of information on earnings management in companies listed on the Tehran Stock Exchange, M.Sc. Thesis, Islamic Azad University, Shahroud Branch 2016.
[9] R. Nayri, M. Muttakin, A. Khan, Subramaniam and N. Somanath, Corporate social responsibility disclosure andfinancial transparency: Evidence from India, Pacific-Basin Finance J. 56 (2019), 330–351.
[10] M. Prasad, T. Mishra and V. Bapat, Corporate social responsibility and environmental sustainability: Evidence from India using energy intensity as an indicator of environmental sustainability, IIMB Manag. Rev. 31 (2019), no. 4, 374–384.
[11] S.K. Qaderzadeh, G. Kurdistani and H. Haghighat, The effect of social responsibility disclosure on accounting, economic and market criteria for corporate performance evaluation, J. Account. Adv. Shiraz Univ. 10 (2018), no. 1, 181–210.
[12] F. Rasoulzadeh and I. Abbasi, Investigating the impact of disclosure of financial information on company value, Third Int. Conf. Manag. Account. Knowledge-Based Econ. Emphasis Resistance Econ., 2017.
[13] H. Shafiei, A. Khodamipour and M. Dastgir, Macroeconomics on social responsibility Companies, Quart. J. Interdiscip. Stud. Human. 15 (2017), no. 1, 133–151.
[14] S. Sheri and E. Amiri, The adequacy of disclosure of related party transactions S, Quart. J. Experiment. Account. Stud. 9 (2011), no. 33, 39–57.
[15] T. Tsalis, A. Nikolaou, F. Konstantakopoulou, Y. Zhang and K.I. Evangelinos, Evaluating the corporate environmental profile by analyzing corporate social responsibility reports, Econ. Anal. Policy 66 (2020), 63–75.
[16] H. Valipour, Q. Talibnia and R. Ahmadi, Investigating the effect of the level of voluntary disclosure on the relevance of the value of accounting information in companies listed on the Tehran Stock Exchange, J. Manag. Account. 7 (2014), no. 21, 71–81.
[17] M. Yeganeh, V. Aghajani and S. Lotfi, The effect of social responsibility disclosure information on the value of participation in companies listed on the Tehran Stock Exchange, Fourth Nat. Conf. Manag. Account. Econ. Emphasis Regional and Global Marketing, Shahid Beheshti University, Permanent Secretariat of the Conference, 2019.
[18] A. Zarei and R. Darabi, The effect of investors’ emotional tendencies on voluntary disclosure in the Iranian capital market volume, Financ. Account. Audit. Res. 2018 (2018), no. 93, 151–191.
International Journal of Nonlinear Analysis and Applications
Volume 14, Issue 1
January 2023
Pages 2787-2798
  • Receive Date: 10 February 2022
  • Revise Date: 29 April 2022
  • Accept Date: 04 May 2022