رابطه بین عوامل اقتضایی و عملکرد پایداری غیرمالی؛ نقش تعدیلی ابعاد رفتاری مدیران

در دنیای کنونی، مشخصات یک شرکت صرفاً در رابطه با مسائل مالی اثبات نمی شود بلکه نیاز به گنجاندن دیدگاه های زیست محیطی و اجتماعی پدید آمده است. بر این اساس سطح آگاهی از فعالیتهای اجتماعی و زیست محیطی به سرعت در حال رشد بوده و این دیدگاه در سالهای اخیر تحت عنوان عملکرد پایداری مورد توجه قرار گرفته است مطابق با مفاهیم نظر به اقتضایی، اجرای رویکرد پایداری بسته به شرایط مختلف سازمان میتوانند به طور قابل توجهی متفاوت باشد. این نظر به پیامدهای زیادی در تصمیم گیری مدیریت در سازمانی به همراه داشته است تصمیمات مدیریت خود متاثر از ویژگیهای آنان است. هدف پژوهش حاضر بررسی نقش تعدیل کنندگی ابعاد رفتاری مدیران بر رابطه بین عوامل اقتضایی و عملکرد پایداری غیر مالی است نه فرضیه پژوهش با استفاده از اطلاعات 142 شرکت پذیرفته شده در شرکت بورس اوراق بهادار تهران در دوره زمانی 1392 تا 1401 شامل 1420 مشاهده شرکت - سال و به کارگیری رگرسیون آزمون و تجزیه و تحلیل شدند. نتایج حاکی از تاثیر مثبت و معنادار اندازه شرکت بر عملکرد پایداری غیر مالی و تاثیر منفی و معنادار پیچیدگی و عدم اطمینان محیطی بر عملکرد پایداری غیر مالی بوده بین استقلال هیئت مدیره و عملکرد پایداری غیرمالی رابطه معناداری مستند .نشد خوش بینی مدیریت رابطه بین اندازه شرکت و عملکرد پایداری غیر مالی را تقویت میکند علاوه بر این کوته بینی مدیریت جهت رابطه بین استقلال هیئت مدیره و عملکرد پایداری غیرمالی را تغییر داده و منفی میکند لیکن خوش بینی مدیریت بر رابطه بین پیچیدگی و عدم اطمینان محیطی و استقلال هیئت مدیره با عملکرد پایداری غیرمالی نقش تعدیل کنندگی ندارد و نهایتاً اینکه کوته بینی مدیریت رابطه بین اندازه شرکت و پیچیدگی و عدم اطمینان محیطی را با عملکرد پایداری غیر مالی تعدیل نمی کند.

the relationship between contingency factors and non-financial sustainability performance: the moderating role of managers’ behavioral dimensions

assets are crucial for companies’ current and future decisions, significantly influencing investors’ perceptions. this study investigates the relationship between accounting asset informativeness and investors’ beliefs, with a focus on the impact of accounting earnings quality. a sample of 249 companies listed on the tehran stock exchange between 2013 and 2023 was selected for analysis. the results indicate that increased asset informativeness positively influences investors’ beliefs at both the aggregate and discretionary levels. however, asset informativeness related to inherent factors does not impact investors’ beliefs. furthermore, low earnings quality does not weaken the relationship between asset informativeness at the aggregate level and discretionary factors with investors’ beliefs.introductioninvestors’ beliefs and expectations play a crucial role in their decision-making process and behavior. assets are a key factor in a company’s present and future decisions, significantly influencing investors’ confidence. accounting assets help reduce uncertainty about a share’s true value and shape people’s expectations of the company. in other words, they contain valuable information, reflecting high accounting asset informativeness. notably, accounting asset informativeness is distinct from earnings indicators. as a result, low earnings quality does not affect investors’ beliefs due to the presence of accounting asset informativeness. therefore, earnings quality may not influence the correlation between accounting asset informativeness and investors’ beliefs. based on this, the research aims to explore the connection between accounting asset informativeness and investors’ beliefs, with a focus on the influence of accounting earnings quality. the researchers propose two hypotheses: accounting asset informativeness positively impacts investors’ beliefs, and earnings quality does not moderate the influence of accounting asset informativeness on investors’ beliefs.methodologythis study focuses on applied research. accounting asset informativeness is the independent variable, calculated using the explanatory power of the regression of a company’s net operating assets on its operating earnings. a 10-year rolling regression was conducted separately for each company. investors’ beliefs were the dependent variable, and the earnings quality served as the moderating variable. earnings quality was determined based on four criteria: earnings stability, earnings smoothing, accruals quality, and the relationship between earnings and value. the study included a sample of 249 companies listed on the tehran stock exchange, spanning from 2013 to 2023.resultsthe information provided by accounting assets has a positive impact on investors’ beliefs at both the aggregate and discretionary levels. however, this information does not affect investors’ beliefs when it comes to intrinsic factors. additionally, low earnings quality does not weaken the relationship between accounting asset information at the aggregate level and discretionary factors with investors’ beliefs.discussionaccording to neoclassical investment theory, changes in a company’s market value reflect investors’ assessments of its intrinsic value based on available information. therefore, the informativeness of a company’s accounting assets can affect its stock performance. when a company’s capital stock is inaccurately measured by its accounting assets, changes in market value will have a greater impact than changes in accounting assets. on the other hand, when accounting assets are measured with less error, they provide more accurate information about the company’s resources. investors use this information to estimate the market value of a company’s stock and form expectations about its intrinsic value. if accounting asset informativeness is strong, investors rely on asset information to analyze the intrinsic value of the stock. it seems that even if the quality of earnings is weak, it does not significantly impact investors’ decision-making. therefore, low earnings quality cannot disrupt the relationship between accounting asset informativeness and shareholders’ expectations.conclusionbased on the findings, investors and financial statement users should consider asset informativeness when determining the true value of a share. it is important to note that financial statement information is not limited to profit and loss but also includes the measurement of assets on the balance sheet.creditors should not focus solely on profit and loss in their debt agreement; they should also consider the company’s assets as a result of its current and future decisions. it is recommended that standard setters use asset informativeness to evaluate the effects of policy changes and balance sheet asset measurement changes to improve the implementation of accounting standards.analysts should consider asset informativeness as a fundamental factor during analysis, especially when earnings quality is low. additionally, company managers and planners should specify the purpose of obtaining operational assets and the capacity of those assets during financial reporting to attract the attention of investors and creditors.