The Impact of Corporate Social Responsibility on Regulatory Comment Letters: Evidence from Iran: El impacto de la responsabilidad social de las empresas en las cartas de comentarios regulatorios: Evidencia de Irán

Reza Hesarzadeh

doi:10.6018/rcsar.398611

Autores/as

Reza Hesarzadeh Ferdowsi University of Mashhad https://orcid.org/0000-0002-5118-022X

DOI: https://doi.org/10.6018/rcsar.398611

Palabras clave: RSC, Supervisión, Carta de comentarios, Efecto indirecto, Gestores, Mercados emergentes

Resumen

Las comisiones de valores revisan periódicamente los informes de las empresas, y si la revisión revela una posible deficiencia -como un posible error contable- o se requiere más aclaraciones, envían a la empresa una carta de comentarios (CL), que incluye una solicitud de respuesta por escrito y la relativa información adicional. El presente estudio pretende examinar si la Responsabilidad Social de las Empresas (RSE) afecta a las cartas de comentarios y cómo lo hace. Este estudio empírico se basa en una muestra de 437 observaciones anuales de empresas iraníes desde 2011 hasta 2017. Los resultados muestran que las empresas con más RSC tienen menos probabilidades de recibir CL y que más RSC no influye en la asociación entre mal comportamiento de los directivos y CL. También se pone de manifiesto que la asociación negativa entre RSC y CL es más fuerte entre las empresas que enfrentan una mayor asimetría de información ambiental y las empresas que tienen una mayor calidad de gobierno corporativo. En conjunto, este trabajo contribuye a la literatura aportando nuevas pruebas sobre el efecto beneficioso de la RSC en el contexto de las CL.

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El impacto de la responsabilidad social de las empresas en las cartas de comentarios regulatorios: Evidencia de Irán