عنوان مقاله [English]
Purpose: Nowadays sustainability represents a crucial issue for huge firms worldwide, and current paper is typically a pioneering study which provides empirical evidence of the impact of sustainability information disclosure on financial performance and corporate value. Based on resource-based View (RBV) and stakeholder theories, there is a positive relationship between sustainability information disclosures with financial performance and corporate value. Indeed, in stakeholder's theory, satisfying the requirements of stakeholders (environmental and social) may improve the firm's financial performance and value.
Methods: The paper has been carried out in the Iranian contex, thus sustainability information disclosures are evaluated through content analysis of the board of directors' reports employing direct observation method.
Results: Following examining the information of 140 firms during the period 2010-2016 (840 observations), the desired findings scientifically show that according to the theoretical foundations in this academic field, the disclosures of sustainability information naturally has a significant and direct relationship with the financial performance and corporate value.
Conclusions: Progressively increasing the proper disclosure of corporate sustainability information leads to improved financial performance and value.
Contribution: The study may encourage managers to develop effective corporate policies reasonably related to the disclosure of sustainability information to improve financial performance and corporate value.