Volume 25, Issue 4 (Winter 2021)                   JPBUD 2021, 25(4): 147-178 | Back to browse issues page

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Doaei M, Rohani A. (2021). Corporate Social Responsibility and Financial Constraints, Emphasizing the Life Cycle and the Moderating Role of Government-affiliated Companies. JPBUD. 25(4), 147-178. doi:10.52547/jpbud.25.4.147
URL: http://jpbud.ir/article-1-1949-en.html
Corporate Social Responsibility and Financial Constraints, Emphasizing the Life Cycle and the Moderating Role of Government-affiliated Companies
Meysam Doaei * 1, Amin Rohani2
1- Assistant Professor, Department of Financial Management, Branch Esfarayen, Islamic Azad University, Esfarayen, Iran , doaei@iauesf.ac.ir
2- M.A. in Financial Management, Branch Esfarayen, Islamic Azad University, Esfarayen, Iran
Abstract:   (4634 Views)
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.
Keywords: Stakeholder Theory, Corporate Social Responsibility, Financial Constraints, Life Cycle, Government Affiliates.
Full-Text [PDF 965 kb]   (1069 Downloads)    
Type of Study: Research | Subject: financial economics
Received: Nov 24 2020 | Accepted: Mar 16 2021 | ePublished: Aug 11 2021
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