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:: Volume 5, Issue 9 (8-2020) ::
aapc 2020, 5(9): 153-188 Back to browse issues page
The Impact of the Economic Crisis on the Relationship between the CEO Power on Firm Value and the Financial Performance; The Role of Company’s Behavioral Characteristics
Shekoufeh Nekoueizadeh MS1 , Mohsen Dastgir Professor 2, Saeid Aliahmadi Dr3
1- phd student, Department of Accounting, Isfahan (Khorasgan) Branch, Islamic Azad University, Isfahan, Iran(Nekoee135@gmail.com)
2- Professor of accounting,Department of Accounting, Isfahan (Khorasgan) Branch, Islamic Azad University, Isfahan, Iran(Corresponding Author) , dastmw@yahoo.com
3- Department of Accounting, Isfahan (Khorasgan) Branch, Islamic Azad University, Isfahan, Iran
Abstract:   (8982 Views)
Companies ability during Crisis has been evaluated. Considering the fact that economic crisis comes along with uncertainty and fluctuations in macroeconomic variables and it causes in a special situation in the economic circumstance of the country and companies activities in that, therefore it can affect the ability and the power of management on the company’s performance and its value. So in this research behavioral features including; social responsibility reporting ,agency cost and tax avoidance in financial crisis have all been incorporated. Therefore, this study used behavioral characteristics including social responsibility reporting, agency costs, and tax avoidance in times of economic crisis. Accordingly, the data of 197 listed companies in Tehran Stock Exchange for the years 2006-2017 is analyzed. The results of the study show the behavioral characteristics of the company,  social responsibility reporting by decreasing the negative effect of economic crisis creates a positive effect of power and management ability on its value and financial performance. In addition, the results indicate that the higher agency cost of the company by increasing the negative impact of economic crisis will have a more negative effect on the strength and ability to manage its value and financial performance. On the other hand, the results indicate that the tax avoidance characteristics does not play a significant role in the adjustment of the economic crisis on the relationship between management power, company value and financial performance. Overall this research proves that the behavioral characteristics of a company can decrease the effect of economic crisis on the relationship between CEO power and firm value and financial performance.
 
Keywords: Economic Crisis, CEO Power, Firm Value, Financial Performance, Behavioral Characteristics of the Company
Full-Text [PDF 311 kb]   (760 Downloads)    
Type of Study: Research | Subject: Special
Received: 2019/05/25 | Accepted: 2019/08/12 | Published: 2020/08/22
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Nekoueizadeh S, Dastgir M, Aliahmadi S. The Impact of the Economic Crisis on the Relationship between the CEO Power on Firm Value and the Financial Performance; The Role of Company’s Behavioral Characteristics. aapc 2020; 5 (9) :153-188
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Volume 5, Issue 9 (8-2020) Back to browse issues page
دوفصلنامه علمی حسابداری ارزشی و رفتاری journal of Value & Behavioral Accounting
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