تأثیر کیفیت ابعاد زیست محیطی بر عملکرد واحدهای تجاری با توجه به نقش میانجی راهبری شرکتی (مقاله علمی وزارت علوم)
درجه علمی: نشریه علمی (وزارت علوم)
آرشیو
چکیده
هدف پژوهش حاضر، بررسی تأثیر کیفیت ابعاد زیست محیطی بر عملکرد واحدهای تجاری با توجه به نقش میانجی راهبری شرکتی است. جامعه آماری پژوهش حاضر، کلیه شرکت های پذیرفته شده در بورس اوراق بهادار تهران است. تعداد 202 شرکت پذیرفته شده در بورس اوراق بهادار تهران به عنوان نمونه آماری در بازه زمانی 10 ساله (از سال 1390 لغایت 1399) (2020 سال-شرکت) انتخاب شد. از معادلات ساختاری روش حداقل مربعات جزئی و نرم افزار Smart PLS نسخه 3 به منظور تحلیل استنباطی داده ها استفاده شد. یافته ها نشان دادند ابعاد زیست محیطی بر عملکرد واحدهای تجاری و راهبری شرکتی تأثیر مثبت و معنادار دارد. افزون بر این، راهبری شرکتی بر عملکرد واحدهای تجاری تأثیر و معناداری دارد. درنهایت، راهبری شرکتی نیز به عنوان یک متغیر میانجی بر رابطه بین ابعاد زیست محیطی و عملکرد واحدهای تجاری تأثیر دارد و نقش میانجی (جزئی) آن تأیید شد. با افزایش شرکت ها، جدال بر سر استفاده از منابع طبیعی و آلودگی های ناشی از آن، شدت چشمگیری پیدا کرده و باعث آسیب پذیر شدن محیط زیست شده است. در حال حاضر، این موضوع، به یک مسئله جهانی و چالش برانگیز بدل شده است. با افزایش نگرانی سهامداران در خصوص محیط زیست، عملکرد شرکت ها نیز دچار تغییراتی شده است. مطابق با یافته های پژوهش، با افزایش توجه شرکت ها به مسائل زیست محیطی، حفظ و عدم آسیب به محیط زیست، سهامداران و سرمایه گذاران واکنش مثبتی به این شرکت ها نشان می دهند. این دیدگاه مثبت می تواند به مراتب عملکرد شرکت ها را بهبود بخشد.The effect of the quality of environmental dimensions on the performance of business units according to the mediating role of corporate governance
With the increase of companies and the conflict over the use of natural resources and the resulting pollution, the environment has become very vulnerable. Currently, this issue has become a global and challenging issue. With the support of the shareholders and their concern about the impact of the companies' activities on the environment, the performance of the companies has undergone changes. Therefore, the aim of this research is to investigate the effect of the quality of environmental dimensions on the performance of business units with regard to the mediating role of corporate governance. The statistical population of the current research is all the companies admitted to the Tehran Stock Exchange and the statistical sample includes 202 listed companies (2020 companies) in a 10-year period. In order to inferential analysis of the findings, structural equations modeling (SEM) of partial least squares (PLS) method version 3 were used. The findings showed that environmental dimensions have a positive and significant effect on the performance of business units and corporate governance. In addition, corporate governance has a significant effect on the performance of business units. Finally, corporate governance as a mediating variable has an effect on the relationship between environmental dimensions and the performance of business units, and its (partial) mediating role is confirmed. The results show that with the increasing attention of companies to environmental issues and preservation and non-damage to the environment, shareholders and investors react positively to these companies. This positive view can greatly improve the performance of companies.
Introduction
Environmental problems are one of the most fundamental business issues today and are the result of their conflict and confrontation with the natural environment; because the development of companies is inevitably associated with the dominance of buildings, industries, transportation, and economic activities in natural spaces. Over time, this dominance has changed to the form of urban and commercial dominance over nature and is the basis of widespread urban pollution (Song et al., 2019). About society and the environment, business units have a special responsibility that goes back to the role and performance of business units in society. This responsibility is an important emphasis on the prominent role of accounting as the only solution for calculating costs incurred in the environment. From a traditional point of view, the only task of accounting has been to maximize shareholder wealth, but according to social and environmental accounting, these goals have moved away from accounting.
The theoretical literature shows that two variables of corporate governance and also environmental aspects affect the performance of business units. Corporate governance is a set of mechanisms of any economic enterprise that creates a relative balance between the responsibilities of the company's shareholders, the board of directors, management, and employees (Lawal, 2012). According to Lawal's model (2012), corporate governance is a function of the composition of the board of directors, and factors including the percentage of non-executive members of the board of directors (Earnhart & Lizal, 2006), the size of the board of directors (Kumar, 2005) and the dual role of the CEO (Bulgurcu, 2012) are considered its indicators (Lawal, 2012). The most important goals of corporate governance can be considered increasing the certainty of creating the interests of shareholders specifically and all stakeholders (Moradi & Rostami, 2013; Foroughi & Heydari Sureshjani, 2014). Therefore, according to the stated research, it is expected that the corporate governance mechanisms also affect the performance of business units. The problem that exists in this research is that the role of environmental dimensions on the performance of companies is not clear. Also, considering the importance of corporate governance and the comprehensive impact of this factor on companies, the effect of this variable on the relationship between environmental dimensions and company performance needs to be carefully investigated. Therefore, this study seeks to investigate the effect of the quality of environmental dimensions on the performance of business units considering the mediating role of corporate governance.
The studies that have been done in the past have not investigated the effect of the three variables of environmental dimensions, corporate performance, and corporate governance. Considering the existing governance in companies and the increasing importance of the environment on the performance and profitability of business units, related research that can examine these three factors is very important, and has not been studied so far. According to the mentioned contents, it is necessary to conduct this study. Therefore, the important questions that are raised in this context are what is the effect of corporate governance and environmental dimensions on the performance of business units? What is the effect of environmental dimensions, which is a subset of social responsibility, on the performance of business units? And does corporate governance affect the relationship between environmental dimensions and the performance of economic enterprises? The purpose of this research is to answer the questions raised.
Research Methodology and Model
This study is among quantitative research. The current research is applied in terms of purpose and quasi-experimental, using a one-time post-event approach (through past information) (Namazi, 2010). Also, the library method was used to examine the theoretical foundations of the research hypotheses and the experimental and theoretical background of the research. The data and information required for the statistical sample of the research were collected by referring to the Kodal system and Rahvard software version 3 (in addition, financial statements and accompanying explanatory notes were also used). Finally, the data was prepared in Excel software, and for descriptive and inferential research tests, Smart PLS version 3 and SPSS version 25 software were used.
Research Findings
First hypothesis: The first hypothesis of the research was that environmental dimensions affect the performance of business units. The results of the first hypothesis test showed that the value of the t statistic is statistically significant and its value is greater than 1.96. According to the path coefficient, the path coefficient between the two variables of environmental dimensions and the performance of business units is positive and significant. Therefore, in terms of statistics and probability, according to the findings of the current research, environmental dimensions have a positive effect on the performance of units, and dimensions can be an effective factor in increasing the added value of companies.
Second hypothesis: The second hypothesis of the research was that environmental dimensions affect corporate governance. The results of the second hypothesis test showed that the value of the t statistic is statistically significant and at the 5% error level, the research hypothesis is confirmed. According to the path coefficient, the path coefficient between the two variables of environmental dimensions and corporate governance is positive. According to statistical data, it is stated that environmental dimensions have a positive and significant effect on corporate governance.
The third hypothesis: The third hypothesis of the research was that corporate governance affects the performance of business units. The results of the third hypothesis test showed that the value of the t statistic and the significance of this statistic are statistically significant. The results of the third hypothesis test showed that the research hypothesis is confirmed at the confidence level of 95% and its statistical value is greater than 1.96. Also, the path coefficient between the two variables of corporate governance and the performance of business units is positive. Therefore, social responsibility has a positive and significant effect on added value.
The fourth hypothesis: The results of the fourth hypothesis test showed that environmental dimensions have a positive and significant effect on the performance of business units in the presence of corporate governance as a mediating variable. This finding shows the importance of corporate governance in the field of impact on environmental dimensions and the performance of business units. Therefore, the fourth research hypothesis is confirmed. In addition, the value of the path coefficient of the mediating variable is equal to 0.167, which means that 16% of the total effect of environmental dimensions and the performance of business units is indirectly explained by the mediating variable of corporate governance.
Conclusion & Results
The purpose of this research was to investigate the effect of environmental dimensions on the performance of business units, emphasizing the mediating role of corporate governance. The performance of business units of companies is the focus of the attention of investors and company analysts. Since the main goal of every company is profitability, according to the theory of the business unit, liquidity ratios, performance, profitability, new market, and added value are very important as a new criterion for evaluating the performance of companies. Based on the theory of political economy, environmental dimensions deal with ethical issues about the company's behavior and decision-making on issues such as human resource management, environmental protection, occupational health, social relations, and relations with suppliers and customers. Therefore, environmental aspects can affect the performance of business units. Environmental dimensions using social responsibility include measures of employee relations, product characteristics, environment, and social participation. According to agency theory, free market theory, and controlled market theory, corporate governance can affect the performance of business units. Corporate governance includes measures of the size of the board of directors, non-commissioned members of the board of directors, and the duality of the role of the CEO, which with the positive and negative performance of the company, and according to the environmental dimensions of the companies have different effects on the expectations of investors and the performance of the company's market; Because, today, shareholders and investors pay attention to companies that comply with environmental and social issues and do not harm the environment, and preserve it for future generations.
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