ویژگی‌های مدیرعامل و عملکرد مالی شرکتی: موردمطالعه بازار سرمایه ایران

نوع مقاله : مقاله پژوهشی

نویسندگان

گروه حسابداری، موسسه آموزش عالی آیندگان، تنکابن، ایران.

چکیده
هدف: هدف این مطالعه به بررسی تاثیر ویژگی‌های مدیرعامل (CEO) بر عملکرد مالی شرکتی پرداخته است.
روش‌شناسی پژوهش: در این مطالعه شرکت‌های پذیرفته‌شده در بورس اوراق بهادار تهران (TSE) در بازه زمانی 1392 تا 1402 موردبررسی قرار گرفتند. جهت برآورد و آزمون مدل‌ها از داده تابلویی استفاده شده است. همچنین برای ویژگی‌های مدیرعامل از سه شاخص (مالکیت مدیرعامل، دوگانگی مدیرعامل و مدت تصدی مدیرعامل) و برای ارزیابی عملکرد مالی شرکتی از شاخص بازده حقوق صاحبان سهام (ROE) استفاده شده است.
یافته‌ها: نتایج پژوهش نشان داد بین مالکیت مدیرعامل و مدت تصدی مدیرعامل با عملکرد مالی شرکتی (ROE) رابطه مثبت و معناداری وجود دارد. همچنین دوگانگی مدیرعامل به‌طور معناداری با عملکرد مالی شرکتی (ROE) رابطه وجود ندارد.
اصالت/ارزش‌افزوده علمی: این پژوهش یکی از معدود مطالعاتی است که تاثیر ویژگی‌های فردی مدیرعامل (مالکیت، مدت تصدی و دوگانگی) را بر عملکرد مالی شرکت‌ها در یک بازار نوظهور مانند ایران بررسی می‌کند. با توجه به تفاوت‌های نهادی، اقتصادی و حاکمیتی ایران با سایر کشورها، یافته‌های این پژوهش به توسعه ادبیات بین‌المللی در حوزه حاکمیت شرکتی کمک می‌کند. همچنین این یافته برای سیاست‌گذاران شرکتی و سهامداران جهت انتخاب و ارزیابی مدیران ارشد اهمیت بالایی دارد.

کلیدواژه‌ها

موضوعات

عنوان مقاله English

CEO characteristics and corporate financial performance: A case study of the Iranian capital market

نویسندگان English

Moein Ruhani
Mohsen Imeni
Department of Accounting, Ayandegan Institute of Higher Education, Tonekabon, Iran.
چکیده English

Purpose: This study aims to investigate the effect of CEO characteristics on corporate financial performance.
Methodology: This study examined companies listed on the Tehran Stock Exchange (TSE) from 2013 to 2023. Panel data was used to estimate and test the models. Three indicators (CEO ownership, CEO duality, and CEO tenure) were used for CEO characteristics, and the Return on Equity (ROE) index was used to evaluate corporate financial performance.
Findings: The study's results showed a positive and significant relationship between CEO ownership, CEO tenure, and corporate financial performance ROE. Also, CEO duality is not significantly related to corporate financial performance or ROE.
Originality/Value: This study is among the few that examine the impact of individual CEO characteristics (ownership, tenure, and duality) on the financial performance of companies in an emerging market such as Iran. Given the institutional, economic, and governance differences between Iran and other countries, the findings of this study contribute to the international literature on corporate governance. This finding is also important for corporate policymakers and shareholders when selecting and evaluating senior managers.

کلیدواژه‌ها English

Performance
CEO tenure
CEO duality
CEO ownership
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