Abstract
The current research is intended to study the relationship between social responsibility and value of firms listed at Tehran’s stock exchange. 150 firms listed at Tehran’s stock exchange were randomly selected and their book values and market values were recorded since 2006-2011. Their scores for social responsibility were collected by questionnaires and were analyzed by fitting regression models. The findings suggested that acceptance of social responsibilities is significantly positively and linearly correlated with firm’s values. However two at of four responsibilities including legal, economic, moral and humanitarian ones were confirmed. It means the legal and economic responsibilities were confirmed. The results showed that the impact of social responsibilities on firm’s values could be accepted. Social responsibility involves the relationships between firm and society. Specifically, it concerns the effects of firms’ activities on the individuals and society. The concept has been widely used in social and political literatures. On the other hand, value of firms has always been studied as one of the criteria for firms’ growth and development by many researchers.
ESMAIEL EMAMI, HEYDAR MOHAMMADZADEH SALTEH, RASOUL BARADARAN HASANZADEH. (2014) Social Responsibility and Value of Firms Listed at Tehran’s Stock Exchange, International Review of Management and Business Research, Volume 3, Issue 1.
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