تأثیر افشای مسئولیت‌‌پذیری اجتماعی شرکتی بر کارایی سرمایه‌‌گذاری در نیروی انسانی با توجه به نقش میانجی افشای ضعف کنترل‌‌های داخلی

نوع مقاله : مقاله علمی پژوهشی

نویسندگان

1 دانشیار، گروه حسابداری و حسابرسی، دانشکدۀ حسابداری و علوم مالی، دانشکدگان مدیریت، دانشگاه تهران، تهران، ایران.

2 استادیار، گروه حسابداری و حسابرسی، دانشکدۀ حسابداری و علوم مالی، دانشکدگان مدیریت، دانشگاه تهران، تهران، ایران.

3 دانشجوی دکتری، گروه حسابداری، دانشکدۀ حسابداری و علوم مالی، دانشکدگان مدیریت، دانشگاه تهران، تهران، ایران.

4 کارشناسی ارشد، گروه حسابداری، دانشکدۀ حسابداری و علوم مالی، دانشکدگان مدیریت، دانشگاه تهران، تهران، ایران.

10.22059/frj.2025.394300.1007736

چکیده

هدف: هدف اصلی این پژوهش، بررسی رابطۀ میان افشای مسئولیت‌پذیری اجتماعی شرکت‌ها و کارایی سرمایه‌گذاری در نیروی انسانی، با تأکید بر نقش میانجی ضعف‌های کنترل داخلی در شرکت‌های پذیرفته‌شده در بورس اوراق بهادار تهران است. با توجه به اینکه سرمایه‌گذاری در نیروی انسانی، یکی از ارکان اساسی رشد و توسعۀ پایدار واحدهای تجاری به‌شمار می‌رود، شناسایی عوامل مؤثر بر کارایی این نوع سرمایه‌گذاری، اهمیت بسیار زیادی دارد. ضعف در سیستم کنترل‌های داخلی، می‌تواند به اخلال در فرایند تصمیم‌گیری‌های مدیریتی منجر شود و در نتیجه، کارایی سرمایه‌گذاری در نیروی انسانی را تحت‌تأثیر قرار دهد. بر این اساس، پژوهش حاضر به‌دنبال آن است تا روشن سازد که چگونه افشای CSR و ضعف‌های احتمالی در کنترل‌های داخلی، می‌توانند بر بهره‌وری سرمایه‌گذاری در نیروی انسانی تأثیرگذار باشند.
روش: اطلاعات مورد نیاز این پژوهش به‌روش آرشیوی گردآوری شده است. برای آزمون فرضیه‌ها و تحلیل روابط بین متغیرها، از الگوی داده‌های ترکیبی (پنل دیتا) استفاده شده و برای سنجش ناکارایی سرمایه‌گذاری در نیروی انسانی، مدل ارائه‌شده توسط کائو و همکاران (۲۰۲۴) به‌کارگرفته شده است. جامعۀ آماری پژوهش، شرکت‌های پذیرفته‌شده در بورس اوراق بهادار تهران، طی دورۀ زمانی ۱۳۹۳ تا ۱۴۰۲ بود و پس از اعمال محدودیت‌های غربالگری، ۱۲۳ شرکت با ۱۲۳۰ مشاهده سال – شرکت برای نمونۀ نهایی انتخاب شد.
یافته‌ها: یافته‌های پژوهش نشان می‌دهد که افشای CSR با کاهش ناکارایی سرمایه‌گذاری در نیروی انسانی، رابطۀ معناداری دارد؛ به‌طوری‌که شرکت‌هایی با سطح بالاتر افشای CSR، از کارایی بیشتری در سرمایه‌گذاری‌های مرتبط با نیروی انسانی برخوردارند. همچنین نتایج حاکی از آن است که ضعف کنترل‌های داخلی با ناکارایی سرمایه‌گذاری در نیروی انسانی، رابطۀ مثبت دارد. علاوه‌براین، تحلیل‌ها بیانگر آن است که ضعف کنترل‌های داخلی، در رابطۀ بین افشای CSR و کارایی سرمایه‌گذاری در نیروی انسانی، نقش میانجی جزئی ایفا می‌کند؛ به این معنا که بخشی از تأثیر مثبت CSR بر کارایی سرمایه‌گذاری در نیروی انسانی، از طریق بهبود سیستم کنترل‌های داخلی منتقل می‌شود.
نتیجه‌گیری: نتایج پژوهش حاضر نشان می‌دهد که افشای مسئولیت‌پذیری اجتماعی شرکتی تأثیری مثبت و معنادار بر کارایی سرمایه‌گذاری در نیروی انسانی دارد. این تأثیر هم به‌صورت مستقیم و هم از طریق کاهش ضعف‌های موجود در سیستم کنترل‌های داخلی نمایان می‌شود. به بیان دیگر، شرکت‌هایی که سطح بالاتری از افشای CSR دارند، نه‌تنها به‌طور مستقیم کارایی بیشتری در سرمایه‌گذاری‌های مرتبط با نیروی انسانی از خود نشان می‌دهند، بلکه از طریق بهبود سیستم کنترل‌های داخلی خود نیز، این کارایی را افزایش می‌دهند. یافته‌ها بیانگر آن است که ضعف کنترل‌های داخلی، به‌عنوان یک متغیر میانجی جزئی، بخشی از اثر مثبت افشایCSR بر کارایی سرمایه‌گذاری در نیروی انسانی را منتقل می‌کند. بر این اساس، پیشنهاد می‌شود که شرکت‌ها برای دستیابی به سرمایه‌گذاری اثربخش‌تر در نیروی انسانی، هم‌زمان با افزایش شفافیت و افشای اقدامات CSR، تمرکز ویژه‌ای بر ارتقای کیفیت سیستم کنترل‌های داخلی خود داشته باشند. این رویکرد می‌تواند مزایای بلندمدتی همچون بهبود عملکرد سازمان، افزایش اعتماد ذی‌نفعان و حرکت به‌سوی توسعۀ پایدار را برای شرکت‌ها به همراه داشته باشد.
 

کلیدواژه‌ها

موضوعات

عنوان مقاله [English]

The Impact of Corporate Social Responsibility Disclosure on Human Capital Investment Efficiency: The Mediating Role of Internal Control Weakness Disclosure

نویسندگان [English]

  • Ali Ebrahimi Kordlar 1
  • Salman Beik Boshrouyeh 2
  • Milad Samavat 3
  • Mohammad Mahdi Ramezani 4
1 Associate Prof., Department of Accounting and Auditing, Faculty of Accounting and Financial Sciences, College of Management, University of Tehran, Tehran, Iran.
2 Assistant Prof., Department of Accounting and Auditing, Faculty of Accounting and Financial Sciences, College of Management, University of Tehran, Tehran, Iran.
3 Ph.D. Candidate, Department of Accounting, Faculty of Accounting and Financial Sciences, College of Management, University of Tehran, Tehran, Iran.
4 MSc. Department of Accounting, Faculty of Accounting and Financial Sciences, College of Management, University of Tehran, Tehran, Iran.
چکیده [English]

Objective
The primary objective of this study is to examine the relationship between corporate social responsibility (CSR) disclosure and the efficiency of human capital investment, with an emphasis on the mediating role of internal control weaknesses in companies listed on the Tehran Stock Exchange. Given that investment in human capital is fundamental for growth and sustainable development for business entities, identifying the factors that influence the efficiency of such investment is of great importance. Weaknesses in the internal control system may disrupt managerial decision-making processes and, consequently, affect the efficiency of human capital investment. Accordingly, this study aims to clarify how CSR disclosure and potential internal control deficiencies can impact the productivity of human capital investment.
 
Methods
The required data for this research were collected using archival methods. To test the hypotheses and analyze the relationships between variables, a panel data approach was employed. The model proposed by Kao et al. (2024) was utilized to measure the inefficiency of human capital investment. The statistical population includes companies listed on the Tehran Stock Exchange during the period 2014 to 2023. After applying screening constraints, the final sample consisted of 123 companies, yielding 1,230 firm-year observations. To enhance the reliability of the results, robust standard errors were employed, and all variables were winsorized at the 1% and 99% levels to mitigate the effects of outliers.
 
Results
The results indicate a significant inverse relationship between CSR disclosure and the inefficiency of human capital investment. Companies with higher levels of CSR disclosure tend to demonstrate greater efficiency in their human capital-related investments. Moreover, the findings reveal a positive relationship between internal control weaknesses and the inefficiency of human capital investment. Additionally, the analyses show that internal control weaknesses partially mediate the relationship between CSR disclosure and human capital investment efficiency. This implies that a portion of the positive effect of CSR on investment efficiency is channeled through improvements in the internal control system.
 
Conclusion
The findings suggest that corporate social responsibility disclosure has a significant positive effect on the efficiency of human capital investment, both directly and through mitigating weaknesses in internal controls. In other words, companies with higher levels of CSR disclosure not only achieve more efficient human capital investments directly but also indirectly enhance this efficiency through the improvement of their internal control systems. As a partial mediating variable, internal control weaknesses transfer part of the positive impact of CSR on investment efficiency. Therefore, it is recommended that companies aiming for more effective human capital investment should simultaneously focus on enhancing transparency and CSR disclosure while improving the quality of their internal control systems. This dual approach can bring long-term benefits such as improved organizational performance, increased stakeholder trust, and progress toward sustainable development.
 

کلیدواژه‌ها [English]

  • Internal control weaknesses
  • Labor investment efficiency
  • Internal control
  • Corporate social responsibility

مراجع

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