The study of the effect of the intensity of regulatory and voluntary environmental expenses on financial performance of petrochemical companies listed in the Tehran Stock Exchange

Document Type : Original Article

Authors
saleh shahabi 1
Babak Jamshidinavid 2
Mehrdad Ghanbary 3
Reza Hashemi 4
1 Phd student, Department of accounting, Kermanshah branch, Islamic Azad University, Kermanshah, Iran.
2 Assistant professor, Department of accounting, Kermanshah Branch, Islamic Azad University, Kermanshah, Iran.
3 Assistant professor, Department of accounting, Kermanshah branch, Islamic Azad University, Kermanshah, Iran.
4 Associate professor, Department of statistics, Razi University, Kermanshah, Iran.
Abstract
As societies develop, corporates responsibility towards society and the environment has become more and more important. The purpose of this study is to investigate the effect of regulatory and voluntary environmental expenses on financial performance in petrochemical companies listed in Tehran stock exchange. Financial performance includes three variables, economic value added, market value added and cash value added. This research is a combination of applied and fundamental research in terms of orientation. The statistical population of this research is petrochemical company listed in Tehran stock exchange ( tse ) in which 13 cases were selected as sample . In addition, The data were analyzed by using the husman , T and Z test and regression analysis using R software . the findings of the study indicate that the intensity of regulatory and voluntary environmental expenses on market value added and economic value added and cash value added in petrochemical companies listed in Tehran stock exchange have no significant effect .
Keywords
regulatory environmental expenses
voluntary environmental expenses
market value added
economic value added
cash value added
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