Document Type : Research Paper
Author
Department of Accounting, Isfahan (Khorasgan) Branch, Islamic Azad University, Isfahan, Iran
Abstract
This study aimed to investigate the effect of corporate social responsibility on building managerial empires by considering the moderating role of financial constraints and CEO overconfidence. The statistical population includes companies listed on the Tehran Stock Exchange and the research sample includes data from 105 companies over a 9-year period from 2014 to 2022, which were selected by systematic exclusion. The data were analyzed using multiple regression models and mixed data methods. The results showed that corporate social responsibility has a negative effect on building managerial empires, and this effect is strengthened under financial constraints and CEO overconfidence. The findings indicate that if the CEO pays attention to corporate social responsibility activities, it is possible to improve the company's financial performance, otherwise, shareholders should control CEOs with a history of building value-destroying empires and increase the level of corporate social responsibility disclosure. This research provides a suitable theoretical framework for understanding the relationship between social responsibility and empire building by managers and shows that including the variables of financial constraints and overconfidence can help stakeholders and shareholders exercise effective oversight over CEO activities.
This study aimed to investigate the effect of corporate social responsibility on building managerial empires by considering the moderating role of financial constraints and CEO overconfidence. The statistical population includes companies listed on the Tehran Stock Exchange and the research sample includes data from 105 companies over a 9-year period from 2014 to 2022, which were selected by systematic exclusion. The data were analyzed using multiple regression models and mixed data methods. The results showed that corporate social responsibility has a negative effect on building managerial empires, and this effect is strengthened under financial constraints and CEO overconfidence. The findings indicate that if the CEO pays attention to corporate social responsibility activities, it is possible to improve the company's financial performance, otherwise, shareholders should control CEOs with a history of building value-destroying empires and increase the level of corporate social responsibility disclosure. This research provides a suitable theoretical framework for understanding the relationship between social responsibility and empire building by managers and shows that including the variables of financial constraints and overconfidence can help stakeholders and shareholders exercise effective oversight over CEO activities.
This study aimed to investigate the effect of corporate social responsibility on building managerial empires by considering the moderating role of financial constraints and CEO overconfidence. The statistical population includes companies listed on the Tehran Stock Exchange and the research sample includes data from 105 companies over a 9-year period from 2014 to 2022, which were selected by systematic exclusion. The data were analyzed using multiple regression models and mixed data methods. The results showed that corporate social responsibility has a negative effect on building managerial empires, and this effect is strengthened under financial constraints and CEO overconfidence. The findings indicate that if the CEO pays attention to corporate social responsibility activities, it is possible to improve the company's financial performance, otherwise, shareholders should control CEOs with a history of building value-destroying empires and increase the level of corporate social responsibility disclosure. This research provides a suitable theoretical framework for understanding the relationship between social responsibility and empire building by managers and shows that including the variables of financial constraints and overconfidence can help stakeholders and shareholders exercise effective oversight over CEO activities.
This study aimed to investigate the effect of corporate social responsibility on building managerial empires by considering the moderating role of financial constraints and CEO overconfidence. The statistical population includes companies listed on the Tehran Stock Exchange and the research sample includes data from 105 companies over a 9-year period from 2014 to 2022, which were selected by systematic exclusion. The data were analyzed using multiple regression models and mixed data methods. The results showed that corporate social responsibility has a negative effect on building managerial empires, and this effect is strengthened under financial constraints and CEO overconfidence. The findings indicate that if the CEO pays attention to corporate social responsibility activities, it is possible to improve the company's financial performance, otherwise, shareholders should control CEOs with a history of building value-destroying empires and increase the level of corporate social responsibility disclosure. This research provides a suitable theoretical framework for understanding the relationship between social responsibility and empire building by managers and shows that including the variables of financial constraints and overconfidence can help stakeholders and shareholders exercise effective oversight over CEO activities.
Keywords
- Building a Management Empire
- Corporate Social Responsibility
- Financial Constraints
- Management Overconfidence. Responsibility
Main Subjects
)