Corporate Governance, Investment in Research and Development and Company Performance: A Data Envelopment Analysis Approach Based on Data from a Developing Country

Mohammad-Hossein Setayesh, Gholamreza Rezaei and Mostafa Kazemnezhad
Additional contact information
Mohammad-Hossein Setayesh: Department of Accounting, Shiraz University, Shiraz, Iran,
Gholamreza Rezaei: Department of Accounting, Shiraz University, Shiraz, Iran,
Mostafa Kazemnezhad: Department of Accounting, Shiraz University, Shiraz, Iran

International Journal of Economics and Financial Issues, 2016, vol. 6, issue 3, 1114-1122

Abstract: The aim of this paper is to investigate the role of investment in research and development (R and D) in relationship between corporate governance (CG) and company performance in the Tehran Stock Exchange. In this regard, ownership concentration and debt ratio were used as the criteria for CG. The statistical population included all companies listed in Tehran Stock Exchange, 161 of which were selected as the statistical sample and investigated from 2004 until 2014. The statistical regression analysis of mixed data in the Baron and Kenny model (1986) and hierarchical regression analysis were employed to test the research hypotheses. The results indicated that CG was a factor influencing company performance and R and D activities. The results also indicated that investment in R and D improved company performance. Furthermore, the research evidence showed a minor role for the R and D investment variable in mediating the relationship between CG and company performance, and thus could not play a moderating role in this relationship

Keywords: Ownership Concentration; Debt Ratio; Company Performance; Investment in Research and Development (search for similar items in EconPapers)
JEL-codes: C61 G30 M41 (search for similar items in EconPapers)
Date: 2016
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.econjournals.com/index.php/ijefi/article/download/1957/pdf (application/pdf)
http://www.econjournals.com/index.php/ijefi/article/view/1957/pdf (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eco:journ1:2016-03-38

Access Statistics for this article

International Journal of Economics and Financial Issues is currently edited by Ilhan Ozturk

More articles in International Journal of Economics and Financial Issues from Econjournals
Bibliographic data for series maintained by Ilhan Ozturk ().