Accounting and Auditing Studies

Accounting and Auditing Studies

The Impact of Institutional Ownership and Management Ownership on the Relationship between Shareholder Participation and Innovative Performance in Companeis Listed in Tehran Stock Exchange

Document Type : Original Article

Authors
Vahid Azarm 1
Mohammad Reza Pajoohi 2
1 M.Sc. in Accounting
2 Assistant Pro., Ph.D. in Department of Accounting, Faculty of Social Sciences, University of shiraz, shiraz, Iran
10.22034/iaas.2024.216986
Abstract
Objective: The aim of the present study is to investigate the impact of institutional ownership and management ownership on the relationship between shareholder participation and innovative performance in the Tehran Stock Exchange. Innovative Performance is a combination of the overall organizational positions, which is the result of efforts made to modernize, improve, and apply various aspects of innovation in the organization. Companies can respond to environmental changes by innovating and create new capabilities to improve performance. According to agency theory, managers who seek to improve sustainable performance do not make significant investments in innovation if major shareholders expect to increase their future earnings through investment in innovation activities.
Methods: A sample consisting of 103 companies listed on the Tehran Stock Exchange during the years 2012 to 2020 was selected. The statistical method used to test the research hypotheses was panel data method and principal component analysis and the tests were performed using R statistical software.
Results and Conclusion: The research findings indicate that there is no significant relationship between stakeholder participation and innovative performance. Also, the research results showed that management ownership has a significant effect on the relationship between shareholder participation and innovative performance. In addition, institutional ownership has a significant effect on the relationship between shareholder participation and innovative performance.
Keywords
Stakeholder participation
Management ownership
Institutional ownership
Innovative performance
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Accounting and Auditing Studies
Volume 13, Issue 52
Autumn 2024
Pages 131-144