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Determinants of the Quality of Corporate Social Responsibility Disclosures in Iran’s Stock Market

Safdari, Ali | 2024

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  1. Type of Document: M.Sc. Thesis
  2. Language: Farsi
  3. Document No: 57365 (44)
  4. University: Sharif University of Technology
  5. Department: Management and Economics
  6. Advisor(s): Ebrahimnejad, Ali
  7. Abstract:
  8. This study examines the quality of Corporate Social Responsibility (CSR) disclosure among publicly listed companies in Iran and identifies the factors that influene it. The research sample consists of 546 companies listed on the Tehran Stock Exchange and Iran Fara Bourse, covering the period from February 2023 to January 2024. Data were extracted from audited financial statements and the annual reports of the companies' boards of directors. In the first part of the study, a CSR disclosure quality index comprising 39 factors was developed. The annual reports of the companies were then analyzed to calculate a disclosure score for each company. The average CSR disclosure quality score was 30.57%, with the highest score being 69% and the lowest 3%, the latter achieved by 8 companies. The second part of the study assessed the impact of firm-level financial variables and ownership structure on the CSR disclosure quality using a multiple regression model. The firm-level financial variables included company size (total assets), financial leverage (total debt) and profitability (ROA). The ownership structure variables included institutional ownership, government ownership and majority ownership. The findings indicate that company size, profitability, debt level, and institutional ownership positively and significantly correlate with CSR disclosure quality. Conversely, government ownership and majority ownership have a negative and significant relationship with CSR disclosure quality
  9. Keywords:
  10. Corporate Social Responsibility ; Firm Size ; Profit Ability ; Financial Leverage ; Government Ownership ; Institutional Ownership ; Majority Ownership ; Disclosure Quality

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