M.A. Thesis:

Investigating the Relationship between CEO Change and Social Responsibility with Regarding the Moderating Role of Board Independence and CEO Period

This study examines the relationship between CEO executive power and social performance with the moderating role of board independence and CEO tenure. The statistical population of the study is the companies of Tehran Stock Exchange, in which 104 companies were selected during the time period from the beginning of 1393 to the end of 1397 for 5 years with the necessary conditions. In this research, panel data model was used to test the hypotheses. The statistical method used in this research is the combined data method that was used to analyze the data Eviews7 software. The results show that there is a significant relationship between CEO executive power and social responsibility performance. Also, there is a significant relationship between CEO tenure and board independence and CEO tenure. On the other hand, there is a significant relationship between CEO executive power and social responsibility performance. There is a significant relationship between the term of office of the CEO. In fact, the CEO of the company, who has started the company in the beginning, with high authority and high executive power can increase short-term debt, long-term debt and equity and improve the company's performance. . The results also showed that when the competition in the product market is high, the power of the CEO has a positive relationship with the value of the company and when the competition in the product market is high and the corporate governance is strong, the power of the CEO has a positive relationship with the value of the company. When the executive power of managers increases and executives communicate with quick decisions and react to changes in market conditions. Also, strong corporate governance leads to effective control over managers and causes managers to direct their strategic decisions towards the value of the company. Therefore, relatively weak executives avoid leverage. Therefore, increasing the pressure for social responsibility is one of the most important business challenges for companies. Companies, especially those operating in global markets, while increasingly seeking shareholder value, increasingly require a balance between their social, economic, and business environment.

Keywords: CEO's executive power, board independence, CEO tenure