企业价值
业务
可持续性报告
会计
持续性
透明度(行为)
公司治理
价值(数学)
证券交易所
独创性
企业社会责任
综合报告
社会企业
营销
公共关系
财务
定性研究
生态学
社会科学
机器学习
社会学
政治学
计算机科学
法学
生物
作者
Arash Arianpoor,Mahdi Salehi,Fereshteh Daroudi
出处
期刊:Social Responsibility Journal
[Emerald (MCB UP)]
日期:2023-04-08
卷期号:19 (10): 1900-1916
被引量:11
标识
DOI:10.1108/srj-09-2022-0374
摘要
Purpose The purpose of this study is to assess the impact of nonfinancial sustainability reporting (NFSR) on enterprise value moderated by the management legitimate authority (MLA) for companies listed on the Tehran Stock Exchange. Design/methodology/approach To this aim, 190 firms were assessed during 2014–2019. This study used Arianpoor and Salehi’s indicators. The scoring method for NFSR, environmental sustainability reporting (ESR), social sustainability reporting (SSR) and governance sustainability reporting (GSR) was based on Zimon et al. Also, the CEO pay slice index was used to calculate the management’s legitimate authority. Tobin’s Q was used as a standard measure for the firm value, providing a suitable means of comparison. Findings The results revealed that NFSR affects enterprise value positively. In addition, ESR and SSR positively affect the enterprise value. However, GSR did not affect the enterprise value. MLA affects the relationship between NFSR/ESR/SSR/GSR and enterprise value, resulting from the effect of MLA on firm-related information quality and transparency. Practical implications Linking NFSR and management’s legitimate authority to firm value will enable managers to lead in helping firms enhance transparency and disclosure, improving their reporting standards and increasing the enterprise value. This, in turn, will ultimately result in better sustainability and governance practices. Social implications The results can help understand that analysts and investors somehow consider discussions related to the NFSR in decisions related to the company’s value, and positive market reactions to these practices’ disclosures can motivate firms to improve value and performance. Originality/value The majority of prior research in this field has focused on developing countries. An international perspective is critical, and this study helps draw a more contextualized picture of sustainability than before. In addition, the present research explored the management’s legitimate authority role, which is considered an innovative aspect.
科研通智能强力驱动
Strongly Powered by AbleSci AI