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:: Volume 8, Issue 29 (Quarterly Journal of Fiscal and Economics Policies 2020) ::
qjfep 2020, 8(29): 187-215 Back to browse issues page
Long-Term Institutional Investors and social
Fraydoon Rahnamay Roodposhti, Anahita Zandi *
Abstract:   (2565 Views)
the investment horizons of institutional investors can affect monitoring incentives which might ultimately make an impact on firm CSR decisions. Hence, this paper investigates the effects of institutional investor’s investment horizons on CSR activities.This research has been carried out using annual data of companies accepted in Tehran Stock Exchange during the period of 2011-2018. By screening, 152 sample companies were identified.For testing of research hypotheses, multivariate linear regression has been used based on panel data.results show that longer investment horizons short term While short term investment horizons Leads to a reduction in social responsibility.  Further, active long-term institutions increase CSR whereas passive long-term institutions have no significant effect.results suggest that investors with longterm horizons have more incentives to monitor their firms which leads managers to engage in more vigorous CSR activities.

Keywords: social responsibility (CSR), institutional investor, investment horizon
Full-Text [PDF 1255 kb]   (609 Downloads)    
Type of Study: Research | Subject: Special
Received: 2019/09/25 | Accepted: 2020/06/20 | Published: 2020/06/20
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Rahnamay Roodposhti F, Zandi A. Long-Term Institutional Investors and social. qjfep 2020; 8 (29) :187-215
URL: http://qjfep.ir/article-1-1049-en.html

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Volume 8, Issue 29 (Quarterly Journal of Fiscal and Economics Policies 2020) Back to browse issues page
فصلنامه سیاستهای مالی و اقتصادی Quarterly Journal of Fiscal and Economic Policies
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