Corporate Social Responsibility and Financial Constraints, Emphasizing the Life Cycle and the Moderating Role of Government-affiliated Companies (in Persian)

Meysam Doaei () and Amin Rohani ()
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Meysam Doaei: Assistant Professor, Department of Financial Management, Branch Esfarayen, Islamic Azad University, Esfarayen, Iran
Amin Rohani: M.A. in Financial Management, Branch Esfarayen, Islamic Azad University, Esfarayen, Iran

The Journal of Planning and Budgeting (٠صلنامه برنامه ریزی و بودجه), 2021, vol. 25, issue 4, 147-178

Abstract: 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. (search for similar items in EconPapers)
JEL-codes: E60 F65 G3 (search for similar items in EconPapers)
Date: 2021
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