The Moderating Role of Financial Constraints in the Influence of Environmental Sustainability Reporting on the Stock Returns of Firms Listed on the Tehran Stock Exchange

Stock return demonstrates the efficiency of a firm in creating net interests for shareholders their investment stocks and is influenced by various factors. The present study seeks to investigate impact Social Performance Reporting on stock returns considering moderating role financial constraints. used data from firms listed Tehran Exchange selected through purposive sampling over 2012-2019. applied terms research objective, multiple regression has been analysis. Kaplan Zingales (1997) model estimate constraints this study, given current practice previous domestic foreign research. Results indicated that had significant positive influence Exchange. Besides, results demonstrated constraint played negative relationship between