Document Type : Original Article
Authors
1
Associate Prof., Department of Accounting and Auditing, Faculty of Accounting and Financial Sciences, College of Management, University of Tehran, Tehran, Iran
2
M.Sc. Department of Accounting, Faculty of Accounting and Financial Sciences, College of Management, University of Tehran, Tehran, Iran
10.22034/iaar.2026.572532.1907
Abstract
In this research, the moderating role of uncertainty was investigated in the context of the impact of business strategy on the labor investment efficiency in companies listed on the Tehran Stock Exchange during the final period 2015-2024. For doing the study, 157 companies were selected as statistical sample. The pooled/paned regression models were applied to analyze of data in EViews 10. In the present study, to measure the labor investment efficiency, Jung et al. (2013) model was exerted. Also, it was used discrete business strategies score (Bentley et al. 2013), to classify firms into three strategy groups: overall score of business strategy, prospector strategy, and defender strategy. Finally, to measure uncertainty, the standard deviation of asset returns over a 5-year period was used. The findings of the research showed that among the different criteria of the business strategy, only the effect of the overall score of business strategy on labor investment efficiency of the companies was negative and significant. In other words, companies with tendency towards prospector strategy generally have a higher level of risk in terms of investing in the labor. One of the reasons for this is the complexity and difficulty of predicting the optimal labor demand for such companies. However, the labor investment efficiency of companies has been independent of the business prospector and defender strategies. Also, the relationship between business strategy and labor investment efficiency has been independent of the moderating variable of uncertainty.
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