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The Investigation of the Relationship between Corporate Social Responsibility and Debt Cost in Tehran Stock Exchange Listed Companies

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  • Zohreh Hajiha

    (East Tehran Branch, Islamic Azad University, Tehran – Iran)

  • Bahman Sarfaraz

    (Electronic Branch, Islamic Azad University, Tehran – Iran)

Abstract

This paper aims to measure the relationship between corporate social responsibility and cost of debt in 65 companies listed in Tehran Stock Exchange (TSE) between 2008 and 2012. Social and environmental criteria and effective rate cost of debt for long-term loans are used in order to measure social responsibility and cost of debt, respectively in panel data regression analysis. The findings show that there is no significant relationship between social responsibility and cost of debt in Iranian companies which are active in an emerging capital market. This could be due to the lack of low rate loans as a source of financing in Iran.

Suggested Citation

  • Zohreh Hajiha & Bahman Sarfaraz, 2014. "The Investigation of the Relationship between Corporate Social Responsibility and Debt Cost in Tehran Stock Exchange Listed Companies," The Journal of European Theoretical and Applied Studies, The Center for European Studies at Kirklareli University - Turkey, vol. 2(2), pages 95-108.
    • Handle: RePEc:kir:journl:v:2:y:2014:i:2:p:95-108
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