The Mediating Effect of Financial Performance on the Relationship between Corporate Social Responsibility and Market Value-Added (Study: Listed Companies in the Tehran Stock Exchange)

In the recent decades, Corporate Social Responsibility has become the main attention of many firms and managers, because, in addition to direct stakeholders, it considers the indirect stakeholders, too. The main purpose of a firm is to improve their financial performance and creating market value, so that, today it's become the main priority for investors and shareholders. So it is expected that the implementation of Corporate Social Responsibility, affects financial performance and CSR affects Market value-added through financial performance. The main purpose of this study is to check the mediating effect of financial performance on the relationship between corporate social responsibility and Market value-added for the five periods from 1390 to 1394 and it contains 99 firms. We used Barzegar (1392) corporate social responsibility Checklist to measure Firm's CSR. This means that these scores have taken from content analyse of board annual reports of companies. In order to analyse and data classification, we used Excell and Eviews 8 Softwares. The finding shows that Earning per Share and Q-tobin have full mediating effect on the relationship between Corporate Social Responsibility and Market Value-Added. Corporate social responsibility has negative effect on market value-added through qtobin, but, its effect is positive through Earning per Share.