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بررسی رابطۀ بین مسئولیت‌پذیری اجتماعی و مدیریت سود بانک‌ها با تأکید بر نقش تعدیلی قدرت مدیرعامل

نوع مقاله : مقاله پژوهشی

نویسندگان

1 استادیار حسابداری، گروه حسابداری، دانشکده اقتصاد و کارآفرینی، دانشگاه رازی، کرمانشاه، ایران

2 کارشناسی ارشد حسابداری_ دانشکده اقتصاد و کارآفرینی_ دانشگاه رازی_ کرمانشاه _ایران

3 کارشناسی ارشد حسابداری،دانشکده اقتصاد و کارآفرینی دانشگاه رازی، کرمانشاه، ایران

چکیده

با توجه به تأثیر قدرت مدیرعامل بر عملکرد بانک، مدیران عامل می‌توانند در انجام مسئولیت‌پذیری اجتماعی و در مدیریت سود نقش داشته باشند و در حوزه گزارشگری مالی، باوجود پیامدهای متفاوت اعمال مدیریت سود در بانک‌ها و اثرات آن روی صنایع دیگر و اقتصاد کلان، بانک‌ها بیشتر از سازمان‌های غیرمالی به شیوه‌های مدیریت سود تمایل دارند. علاوه بر این، به دلیل عدم شفافیت و عدم تقارن اطلاعاتی، بانک‌ها ملزم به ارائه بازخورد به جامعه بیش از سایر صنایع هستند. براین اساس، پژوهش حاضر باهدف بررسی تأثیر قدرت مدیرعامل بر رابطۀ بین مسئولیت‌پذیری اجتماعی و مدیریت سود بانک‌ها صورت گرفته است. بدین منظور نمونه پژوهش شامل 16 بانک پذیرفته‌شده در بورس اوراق بهادار تهران و فرابورس ایران در بازه زمانی سال 1395 تا 1400 برای آزمون فرضیه‌های پژوهش مورداستفاده قرار گرفت. یافته‌های حاصل از آزمون فرضیه‌های پژوهش نشان دادند که مسئولیت‌پذیری اجتماعی بر مدیریت سود بانک‌ها تأثیر منفی و معناداری دارند. این بدان معناست که افزایش مسئولیت‌پذیری اجتماعی موجب کاهش عدم تقارن اطلاعاتی و کاهش عدم شفافیت اطلاعات مالی و درنتیجه کاهش مدیریت سود بانک‌ها می‌شوند. همچنین یافته‌های پژوهش نشان دادند، قدرت مدیرعامل در تعدیل رابطۀ مسئولیت‌پذیری اجتماعی و مدیریت سود بانک‌ها نقشی ندارد.

کلیدواژه‌ها

موضوعات

عنوان مقاله [English]

Investigating the Relationship between Social Responsibility and Earnings Management in Banks through Emphasis on the Moderating Role of CEO Power

نویسندگان [English]

  • Saman Mohammadi 1
  • Zahra Oryaie 2
  • Ali Naderi 3

1 Assistant Professor of Accounting, Accounting Department, Faculty of Economics and Entrepreneurship, Razi University, Kermanshah, Iran

2 Master of Accounting, Faculty of Economics and Entrepreneurship, Razi University, Kermanshah, Iran

3 Master of Accounting, Faculty of Economics and Entrepreneurship, Razi University, Kermanshah, Iran

چکیده [English]

Considering the impact of CEO Power on a bank’s performance, CEOs can play a role in social responsibility and earnings management. Given that earnings management in banks can have various effects on other industries and the overall economy, banks tend to practice earnings management more frequently than non-financial organizations. Furthermore, due to a lack of transparency and information asymmetry, banks are required to be more accountable to society than other industries. Therefore, this research aims to investigate the impact of CEO Power on the relationship between social responsibility and earnings management in banks. The research sample comprises 16 banks listed on the Tehran Stock Exchange Market and Iran OTC between 2016 and 2021. These banks were selected to test the research hypothesis. The findings of the study suggest that social responsibility has a significant negative impact on earnings management in banks. This implies that an increase in social responsibility may lead to a decrease in information asymmetry and lack of transparency, resulting in a decrease in earnings management. Furthermore, the findings of the study indicate that CEO power does not play a significant role in moderating the relationship between social responsibility and earnings management in banks.

Introduction

Indeed, engaging banks in social responsibility practices is expected to be beneficial for their stakeholders. In this context, stakeholders are often attracted to banks with a good reputation for social responsibility. Therefore, executives may engage in social responsibility activities to gain support from stakeholders, defend themselves against stakeholder activism, manage their business reputation, or protect their own careers. However, executives may also engage in social responsibility activities to manipulate earnings management and hide their self-interest motivations, which leads to agency problems. These agency problems arise when executives take opportunistic actions such as earnings management to maximize their profits, increasing the bank's agency costs. Given the influence of powerful CEOs on a bank’s performance, powerful CEOs play a role in social responsibility and earnings manipulation. Therefore, CEO power is one of the most important determinants affecting managers’ decisions.
the current research has several important aspects. First, it extends the literature on the effect of commitment to social responsibility activities on firm earnings management, with a specific focus on the banking sector. Second, the research fills a gap in the literature regarding the role of social responsibility in financial reporting. Previous studies have not provided a clear consensus on whether social responsibility commitment has a positive or negative impact on financial reporting quality. Given the diversity of findings reported by previous studies, more research is needed to focus on understanding how social responsibility commitment can affect financial reporting quality, as proxied by earnings management practices.
Does social responsibility affect banks' earnings management? Does CEO power have a significant effect on the relationship between social responsibility and earnings management of banks and strengthen this relationship?

Literature Review

2.1. Corporate social responsibility and earnings management
To understand the link between corporate social responsibility (SR) and earnings management (EM), previous studies have proposed two perspectives: the ethical perspective and the managerial opportunism perspective. The ethical perspective assumes that EM is negatively associated with SR, while the managerial opportunism perspective argues that EM and SR are positively related. This leads us to our first hypothesis:
H1. There is a significant relationship between SR and EM.
2.2. Corporate social responsibility, earnings management and CEO power
Given the influence of powerful CEOs on bank’s performance, powerful CEOs play a significant role in both SR input and earnings manipulation. Therefore, CEO power is considered one of the crucial determinants affecting managerial decisions. Hence, CEO power may have a moderating effect on the relationship between SR and EM. Accordingly, we propose the following hypothesis:
H2. Powerful CEOs moderate the SR–EM relationship.

Methodology

The statistical population of this research consists of banks enlisted in the Tehran Stock Exchange Market and Iran OTC. The data from 16 banks for the period between 2016 to 2021 have been analyzed to test the research hypotheses. The statistical method employed in this study is the regression model of mixed data using panel data approach with a random effects estimation.

Results

The obtained results suggest that social responsibility has a negative and significant effect on bank’s earnings management. In other words, as social responsibility increases, earnings management in banks is expected to decrease. Furthermore, the results show that the significant relationship between social responsibility and earnings management is not maintained when the adjusting variable of the CEO's power is included. In other words, the CEO's power does not have a significant effect on the relationship between social responsibility and earnings management.

Discussion and Conclusion

With an increase in activities related to social responsibility, banks experience a decrease in earnings management. This observation aligns with the ethical perspective and the signaling theory, which suggest that social responsibility can serve as a tool to reduce earnings management. Banks with higher levels of social responsibility not only exhibit greater transparency regarding their social responsibility initiatives and stronger engagement with stakeholders, but they also tend to engage in less earnings management. Additionally, the study found that CEO power does not moderate the relationship between social responsibility and bank earnings management. This finding contradicts the theoretical foundations and the research background, which propose that CEOs may use social responsibility to gain stakeholder support, manage their reputation, and defend against stakeholder activism. Therefore, it is evident that relying solely on CEO power and characteristics may not lead to accurate decision-making in this domain. Shareholders and other financial decision-makers should consider factors beyond CEO power when attempting to moderate the relationship between social responsibility and earnings management.
 
 
 
 

کلیدواژه‌ها [English]

  • CEO Power
  • Social Responsibility
  • Earnings Management
  • Banking Industry
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مطالعات تجربی حسابداری مالی
دوره 20، شماره 77
خرداد 1402
صفحه 183-218
فایل ها
سابقه مقاله
  • تاریخ دریافت: 11 بهمن 1401
  • تاریخ بازنگری: 19 فروردین 1402
  • تاریخ پذیرش: 20 فروردین 1402
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