The Relationship Between Social Responsibility and Investment-Cash Flow ?Sensitivity ? and the Role of Agency Costs

Abdolhossein Talebi Najafabadi*, Zahra Farhadi and Narjes Kamali Kermani
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Abdolhossein Talebi Najafabadi*: Assistant Prof, Accounting, Faculty of Humanity sciences, University of bojnord, bojnord, Iran
Zahra Farhadi: Assistant Prof, Accounting, Faculty of Humanity sciences, University of bojnord, bojnord, Iran
Narjes Kamali Kermani: Narjes Kamali Kermani

The Journal of Social Sciences Research, 2018, vol. 4, issue 11, 294-302

Abstract: In this study, the relationship between social responsibility and investment-cash flow ?sensitivity ?and the role of agency costs in companies listed on Tehran Stock Exchange were investigated. To this end, 127 companies were examined during the period 2011-2016. The required data in this research was extracted, classified and calculated using Excel software and finally, the hypotheses were tested at a 95% confidence level through Eviews? ?and Stata software. The results obtained from hypothesis testing demonstrated that corporate social responsibility ?negatively moderates investment-cash flow ?sensitivity. Furthermore, no reliable evidence was found in relation to the effectiveness of agency costs in the relationship between social responsibility and investment-cash flow ?sensitivity at a 95% confidence level.

Date: 2018
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