The Effect of Corporate Social Responsibility Performance on Financial Distress over the Life Cycle Using the Directional Distance Function

سال انتشار: 1401
نوع سند: مقاله ژورنالی
زبان: انگلیسی
مشاهده: 222

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شناسه ملی سند علمی:

JR_IJFIFSA-6-3_003

تاریخ نمایه سازی: 1 خرداد 1401

چکیده مقاله:

Rising inflation in recent years has caused financial distress and many problems for companies. Most of these problems are affected by life cycle stages. One way out of these problems is to increase corporate social responsibility (CSR) performance. Therefore, our aim in this study is to investigate the effect of CSR performance on financial distress over the life cycle of the company for a period of ۱۰ years. Data collection was done through the website of the Tehran Stock Exchange and related software for a sample of ۱۱۲ companies during the period ۲۰۰۹ to ۲۰۱۹. The mathematical method (directional distance function) is used to evaluate the CSR performance, and the models of Berger et al., Almida, Campello, and Altman are used to measure financial distress. The research hypotheses are tested using panel data and fixed effects by multivariate regression statistical method. The results show that CSR performance alone does not affect financial distress. The combination of CSR and life cycle in the growth and maturity phases has a significant and negative effect on financial distress. The CSR performance and life cycle together reduce financial distress. The combination of CSR performance and life cycle in the recession phase has a positive and significant effect on financial distress and in the fall phase, does not affect it. Given that companies compete more in the phase of growth and maturity than other phases of the life cycle, they also pay more attention to CSR. Therefore, according to these results, it can be concluded that the life cycle of the company and the CSR performance together, reduce financial distress.

کلیدواژه ها:

corporate social responsibility performance ، Financial Distress ، life cycle

نویسندگان

Hassan Koohi

Ph.D Candidate in Accounting, Aliabad Katoul Branch, Islamic Azad University, Aliabad Katoul, Iran

Majid Ashrafi

Assistant Professor, Department of Accounting, Aliabad Katoul Branch, Islamic Azad University, Aliabad Katoul, Iran.

Ebrahim Abbasi

Prof., Department of Management, Faculty of Social Sciences and Economics, Alzahra University, Tehran, Iran.

Jomadoordi Gorganli Davaji

Assistant Professor, Department of Accounting, Aliabad Katoul Branch, Islamic Azad University, Aliabad Katoul, Iran.

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