Document Type : Original Article
Authors
1
Department of Management, Faculty of Administrative Sciences and Economics, Arak University, Arak, Iran.
2
Department of Accounting, Payame Noor University, Tehran, Iran.
3
Department of Accounting, Faculty of Economics and Administrative Science, University of Mazandaran, Babolsar, Iran.
Abstract
Social businesses, by integrating economic and social objectives, play a pivotal role in sustainable development. Given the emphasis of national policies on corporate social responsibility (CSR), financial transparency and stakeholders’ trust are recognized as critical factors for the success of these businesses. This study investigates the impact of financial transparency and corporate social responsibility on stakeholders’ trust (encompassing customers, investors, and employees) and the sustainable performance of social businesses. This quantitative, questionnaire-based study targeted financial managers, accountants, and stakeholders of active social businesses. A sample of 200 participants was selected using purposive sampling. Data were collected via a standardized 5-point Likert scale questionnaire measuring financial transparency, corporate social responsibility, stakeholders’ trust, and sustainable performance. Data analysis was conducted using structural equation modeling (SEM) with Smart PLS 4.0 software, encompassing validity, reliability, measurement model (factor loadings), structural model (path coefficients), and mediation and moderation analyses. The results revealed that financial transparency and corporate social responsibility have a significant positive impact on stakeholders’ trust. Stakeholders’ trust, as a mediating variable, fully strengthens the relationship between these variables and sustainable performance. Additionally, firm size moderated these relationships; small firms exhibited stronger effects compared to large, attributed to their greater flexibility and closer stakeholder relationships. These findings underscore the importance of financial transparency and CSR in enhancing sustainable performance through trust.
Keywords