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Financial Performance based on the Role of Cultural Values, Environmental and Social-Ethical Responsibilities, and Financial Supervision: Evidence from the Iraqi Stock Exchange
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Shalaw Qader Omar1   , Parviz Piri2 , Ali Ashtab3 |
1- Ph.D. Student, Department of Accounting, Faculty of Economics and Management, Urmia University, Urmia, Iran.
2- Department of Accounting, Faculty of Economics and Management, Urmia University, Urmia, Iran. , p.piri@urmia.ac.ir
3- Department of Accounting, Faculty of Economics and Management, Urmia University, Urmia, Iran. |
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Abstract: (35 Views) |
Background: In today's world, companies are not only looking for profitability but also pay attention to their ethical, social and environmental responsibilities. This study attempts to examine the role of various factors, including cultural values, ethical, social and environmental responsibilities, and financial supervision on the financial performance of companies listed on the Iraqi Stock Exchange.
Method: This study is developmental-applied in terms of its purpose and descriptive-correlational in terms of its method. The population of this study is the data of all companies listed on the Iraqi Stock Exchange (ISX) during the years 2011 to 2023 in a 13-year research period, where the entire population was selected as a sample and a total of 57 companies were studied. The research variables were measured using a series of contractual indicators, board of directors' reports and environmental standards. Correlation tests were used to examine the relationships between variables, and the GMM method was used to test the hypotheses. Eviews statistical software was used to perform statistical analyses.
Results: According to the findings, cultural values have a negative and significant relationship with the financial performance of economic units listed on the Iraqi Stock Exchange (p<0.05). However, environmental responsibility, ethical-social responsibility, and financial supervision have a positive and significant relationship with financial performance (p<0.05).
Conclusion: The findings indicate that strengthening ethical-social responsibility and improving the supervisory system can help improve the financial performance of Iraqi companies, but some dominant cultural values may be an obstacle to this improvement.
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| Keywords: Financial Performance, Cultural Values, Environmental Responsibility, Ethical-Social Responsibility, Financial Supervision |
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Full-Text [PDF 564 kb]
(41 Downloads)
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Type of Study: Research |
Subject:
Special
Received: 2025/03/4 | Accepted: 2025/05/17 | Published: 2026/05/28
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