The Impact of Aggressive Business Strategy in the Corona Period on the Relationship between Corporate Social Performance and Market Response

The present study investigates the effect of business strategy on the relationship between corporate social performance and market reaction in the corona period. This research is applied in terms of purpose and in terms of methodology, correlation and causal type (post-event).The statistical population of the study was the companies listed on the Tehran Stock Exchange and using the systematic elimination sampling method, 129 companies were selected as a sample of the research in an 8-year period between 1392 and 1399To test the research hypotheses, multivariate regression method with combined data (year-company) and Stata software were used.The results of the study show that in the corona, the disclosure of corporate social responsibility in the long run has a direct impact on the market reaction of investors. Also, in the corona period, the disclosure of corporate social responsibility has a direct long-term effect on the level of abnormal returnsFindings show that in the corona period, aggressive strategy has a direct effect on the relationship between corporate social responsibility disclosure and the market response of investors. Also, the use of aggressive strategy in the corona period affects the relationship between corporate social disclosure and abnormal returns.