The Effect of Cultural Hegemony to Shareholders Protect: Moderating Role of Social Pressure Tests

Cultural hegemony as a mechanism for the domination of the values considered by those in power today is not limited to large systems of government but also in the arteries of the functions of economic systems; Political; Social and ... has infiltrated and upset the balance in the level of protection of the interests of the majority groups that are not dependent on any power. Cultural hegemony by penetrating the capital market has somewhat disturbed the balanced values and information symmetry as the basis of the free circulation system in the market and has caused uncertainty about the functional functions of companies in protecting their interests. The Purpose of this research is the effect of cultural hegemony to protect the interests of shareholders by moderating role of social pressure tests stakeholders. In this study, which was conducted in the period of one year in 2018-2019, the collection tool included two parts of a questionnaire and the data disclosed in the financial statements of Tehran Stock Exchange companies. In fact, in order to improve the level of innovation in the relationship between judgmental and quantitative processes in accounting research, a standard questionnaire was used to collect data on cultural hegemony and social pressures and entropy analysis method was used to collect data on stakeholder protection. Finally, partial least squares analysis (PLS) was used to fit the model. The results showed that cultural hegemony has a negative and significant effect on the protection of shareholders' interests but the result of the second hypothesis of the study showed that the social pressure of stakeholders moderates the negative impact of cultural hegemony on the protection of shareholders' interests.