بررسی رابطه بین افشای زیست‌محیطی و سازوکارهای حاکمیت شرکتی با مربوط‌بودن ارزش و عملکرد

نوع مقاله : مقاله پژوهشی

نویسندگان

1 دانشیار حسابداری دانشگاه آزاد اسلامی واحد تهران مرکزی

2 کارشناس ارشد حسابداری از دانشگاه آزاد اسلامی واحد قشم

چکیده

مقدمه: پژوهش حاضر به بررسی رابطه بین افشای زیست‌محیطی و سازوکارهای حاکمیت شرکتی با مربوط‌بودن ارزش و عملکرد شرکت‌های پذیرفته شده در بورس اوراق بهادار تهران می‌پردازد. از این رو، به استفاده‌کنندگان در اتخاذ تصمیم مناسب برای تخصیص بهینه سرمایه در بازار سرمایه کمک کرده و موجب افزایش شفافیت محیط تصمیم‌گیری می‌شود.
روش پژوهش: روش این پژوهش از نوع همبستگی است. جامعه آماری پژوهش شامل شرکت‌های پذیرفته شده در بورس اوراق بهادار تهران در بازه زمانی 1392-1388 است و نمونه پژوهش با توجه به روش غربالگری و پس از حذف مشاهدات پرت برابر با 137 شرکت است. در این پژوهش افشای زیست‌محیطی و سازوکارهای حاکمیت شرکتی به عنوان متغیرهای مستقل در نظر گرفته شده است و با استفاده از داده‌های ترکیبی، رگرسیون چندمتغیره و نرم‌افزار SPSS نسخه 19 رابطه آن‌ها با مربوط‌بودن ارزش و عملکرد شرکت بررسی شده است.
یافته‌ها: نتایج پژوهش نشان می‌دهد که کیفیت افشای زیست‌محیطی و سازوکارهای حاکمیت شرکتی (شامل درصد مدیران غیرموظف هیأت مدیره، درصد مالکیت اعضای هیأت مدیره و مدیر عامل و درصد مالکیت سهامداران نهادی) با مربوط‌بودن ارزش سهام شرکت‌های بورسی رابطه مستقیم و معناداری دارد. هم‌چنین، کیفیت افشای زیست‌محیطی با عملکرد سهام شرکت‌ها رابطه مستقیم و معناداری دارد.
نتیجه‌گیری: با توجه به اهمیت افشای زیست‌محیطی در حوزه سلامت، نتایج این پژوهش نشان می‌دهد که حتی معیارهای مالی نیز تحت تأثیر افشای زیست‌محیطی قرار دارد و توجه ویژه به این افشاء می‌تواند نیازهای اجتماعی و مالی را هم‌زمان تحت تأثیر مثبت قرار دهد.

کلیدواژه‌ها

عنوان مقاله [English]

Investigating the Relationship between the Environmental Disclosure and the Corporate Governance Mechanisms with the Relevance to Value and Performance

نویسندگان [English]

  • F. Heidarpour 1
  • N. Shahbazi 2
1 Associate Professor, Department of Accounting, Islamic Azad University, Central Tehran Branch
2 M. A. in Accounting, Islamic Azad University, Qeshm Branch
چکیده [English]

Introduction: This research examines the relationship between environmental disclosure and corporate governance with the relevance to value and performance of the companies listed on the Tehran Stock Exchange. So, it helps the users to make a proper decision for optimal capital appropriation in the capital market, and it results in increasing the transparency of the decision-making environment.
Method: The method of this research is correlational. The statistical population of this study contain the companies listed on the Tehran Stock Exchange during 2009-2013, and the sample of the research according to the screening method and after removing the irrelevant observations includes 137 companies. In this research, environmental disclosure and mechanisms of corporate governance have been considered as independent variables, and their relationship with the relevance to value and performance of the company has been examined by using panel data, multiple regression and by SPSS Software Version 19.
Results: The results of the research indicate that the quality of environmental disclosure and mechanisms of corporate governance (including the percentage of non-executive managers of the board of directors, the percentage ownership of members of the board of directors, the chief executive officer, and the percentage of ownership of the institutional shareholders) have a direct and significant relationship with the relevance to value of shares of the Stock Exchange companies. Also, the quality of the environmental disclosure has a direct and significant relationship with the performance of shares of the companies.
Conclusion: Due to the importance of the environmental disclosure in the field of public health, the results of the research show that even financial criteria are under the influence of environmental disclosure, and a special attention to such disclosure will be able to affect both social and financial requirements simultaneously positively.

کلیدواژه‌ها [English]

  • Corporate Governance
  • Performance of the Company
  • the Quality of Environmental Disclosure
  • the Relevance to Value

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