|
The relationship between corporate governance, corporate sustainability, and financial strength, considering the moderating role of financial health
|
Behnaz Zamani1   , Mohammad Reza Pour Ali *2 , Razieh Ali Khani1 , Mehdi Maranjouri1 |
1- Department of Accounting, Cha.C., Islamic Azad University, Chalus, Iran
2- Department of Accounting, Cha.C., Islamic Azad University, Chalus, Iran , pourali@iau.ac.ir |
|
|
Abstract: (14 Views) |
This study examines corporate governance, corporate sustainability, financial strength, and financial health among companies listed on the Tehran Stock Exchange. To this end, the relationship between various levels of corporate governance and sustainability and the companies' financial strength was first investigated; subsequently, the moderating effect of financial health on this relationship was analyzed. In subsequent sections, the relationship between sustainability indicators (environmental, social, and economic) and corporate financial strength was examined. Furthermore, variables such as firm size, financial leverage, profitability, market-to-book ratio, and auditor type were controlled for in the regression models. In terms of objective, this is an applied study.
The present study is descriptive-correlational in nature; regarding data collection, it is ex-post facto and relies on archival data. A systematic sampling (screening) method was employed to determine the sample size; based on the established criteria, 127 companies were ultimately analyzed over a 10-year period (spanning the years 1394 to 1403, totaling 1,270 firm-years). Multivariate regression analysis was conducted using Eviews8 software, specifically employing the panel data method with fixed effects.
The results obtained regarding the study's main hypotheses indicate a significant relationship between various levels of corporate governance and corporate sustainability, on the one hand, and corporate financial strength, on the other. Furthermore, financial health acts as a moderator in the relationship between corporate governance levels and corporate financial strength; however, the moderating effect of financial health on the relationship between corporate sustainability and corporate financial strength was not confirmed.
|
|
| Keywords: Corporate Governance, Corporate Sustainability, Financial Strength, Financial health |
|
|
Full-Text [PDF 833 kb]
(5 Downloads)
|
Article type: Research |
Subject:
Special
Received: 2026/05/27 | Accepted: 2026/09/5
|
|
|
|
|
|
|
| Send email to the article author |
|
|
|
| Add your comments about this article |
|
|
|
