نوع مقاله : مقاله پژوهشی (کاربردی)
عنوان مقاله English
نویسندگان English
Abstract
Abstract:
Corporate Social Responsibility (CSR), as a commitment to maintaining legitimacy and long-term sustainability, is influenced by managerial behavior and shareholder oversight. Behavioral traits of managers and weak monitoring mechanisms can hinder the fulfillment of these responsibilities. This study examines the interactive effect of managerial overconfidence and institutional investors’ attention deviation on CSR and its legal, economic, and ethical dimensions in Iranian listed companies. The statistical population includes 132 firms listed on the Tehran Stock Exchange during the years 2014–2023, analyzed using panel regression models with fixed effects. The findings indicate that managerial overconfidence has a positive and significant effect on overall CSR as well as its economic and ethical dimensions, but not on the legal dimension. Institutional investors’ attention deviation has a negative and significant effect across all dimensions. The interaction effect of these two variables is positive for overall CSR and the economic dimension, negative for the ethical dimension (due to weakened institutional monitoring), and insignificant for the legal dimension. These results are consistent with agency and legitimacy theories. The study provides new insights for policymaking and strengthening institutional monitoring.
کلیدواژهها English
