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The Phenomenon of Myopia in the Capital Market and the Strategy of Companies with the Moderating Role of Managers' Unethical Behavior
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E Shahriari1   , D Usefvand2 , H Amiri3 , M Khodamoradi4 |
1- 1. Dept. of Accounting, Khoramshahr International Branch, Islamic Azad University, Khoramshahr, Iran.
2- 2. Dept. of Accounting, Parandak University, Tehran, Iran. , Yousofvanddavood@gmail.com
3- 3. Dept. of Accounting, Abadan Branch, Islamic Azad University, Abadan, Iran
4- 4. Dept. of Mathematics and Statistics, Izeh Branch, Islamic Azad University, Izeh, Iran. |
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Abstract: (845 Views) |
Background: Unethical behavior in companies is one of the most important problems of the current era and emphasizes the necessity of developing ethics. As the unethical behavior of managers increases, the performance of the company is more affected and the external image of the company is more distorted. It can be claimed that the rule of moral values on the company and their compliance by the employees has a significant effect on the success of the company and leads to the institutionalization of moral values in companies. The purpose of this research is to investigate the phenomenon of myopia in the capital market and the strategy of companies with the moderating role of managers' unethical behaviors (narcissism and short-sightedness).
Method: The purpose of this research is applied research, from the branch of field studies. The research community included companies admitted to the Tehran Stock Exchange, and the sample was selected using the systematic elimination sampling method (screening) over a 10-year period from 1391 to 1400. The data collection tool is the data and documents of the companies admitted to the stock exchange. Data were analyzed using ordinal logistic regression tests.
Results: The results among the studied sample showed that there is an influence mechanism between the myopia phenomenon in the capital market and the company's strategy. Managers' unethical behaviors such as managers' narcissism have an effect on the relationship between the phenomenon of myopia in the capital market and the company's strategy. Also, managers' short-sightedness has an effect on the relationship between myopia in the capital market and the company's strategy.
Conclusion: The results of the research showed how the unethical behavior of investors and managers affects themselves and the organization under their support through financial decisions.
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| Keywords: Ethics and anti-ethics, Myopia in the capital market, Corporate strategy, Narcissism, Managers' short-sightedness |
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Full-Text [PDF 534 kb]
(625 Downloads)
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Type of Study: Research |
Subject:
Special
Received: 2023/03/17 | Accepted: 2023/04/30 | Published: 2024/05/3
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