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Corporate Social Responsibility and Financial Constraints, Emphasizing the Life Cycle and the Moderating Role of Government-affiliated Companies (in Persian)

Author

Listed:
  • Doaei, Meysam

    (Assistant Professor, Department of Financial Management, Branch Esfarayen, Islamic Azad University, Esfarayen, Iran)

  • Rohani, Amin

    (M.A. in Financial Management, Branch Esfarayen, Islamic Azad University, Esfarayen, Iran)

Abstract

This research examines the relationship between corporate social responsibility and financial constraints considering the life cycle and the role of moderating government-affiliated companies in the Tehran Stock Exchange. For this purpose, the data of 141 enterprises were collected for the period 2009-2018 and the life cycle of companies was divided into three categories of growing, mature, and declining companies. Analysis and testing of hypotheses were done by Eviews statistical software. The results of the research show that there is a negative and significant relationship between corporate social responsibility and financial constraints (with a 95% confidence level in the growth stage; with a 90% confidence level in the maturity and decline stages). The results also show that government-affiliated companies had no significant effect on corporate social responsibility and financial constraints. The present study also suggests some research ideas and executive recommendations.

Suggested Citation

  • Doaei, Meysam & Rohani, Amin, 2021. "Corporate Social Responsibility and Financial Constraints, Emphasizing the Life Cycle and the Moderating Role of Government-affiliated Companies (in Persian)," The Journal of Planning and Budgeting (٠صلنامه برنامه ریزی Ùˆ بودجه), Institute for Management and Planning studies, vol. 25(4), pages 147-178, February.
    • Handle: RePEc:auv:jipbud:v:25:y:2021:i:4:p:147-178
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    More about this item

    Keywords

    Stakeholder Theory; Corporate Social Responsibility; Financial Constraints; Life Cycle; Government Affiliates.;
    All these keywords.

    JEL classification:

    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General
    • F65 - International Economics - - Economic Impacts of Globalization - - - Finance
    • G3 - Financial Economics - - Corporate Finance and Governance

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