ISSN: 2306-9007 Emami, Salteh & Hasanzadeh (2014) 248 I www.irmbrjournal.com March 2014 International Review of Management and Business Research Vol. 3 Issue.1 R M B R Social Responsibility and Value of Firms Listed at Tehran’s Stock Exchange ESMAIEL EMAMI Department of Accounting, East Azarbaijan Science and Research Branch Islamic Azad University, Tabriz, Iran HEYDAR MOHAMMADZADEH SALTEH Department of Accounting, Marand Branch, Islamic Azad University, Marand, Iran Email: salteh2008@gmail.com RASOUL BARADARAN HASANZADEH Department of Accounting, Tabriz Branch, Islamic Azad University, Tabriz, Iran Abstract The current research is intended to study the relationship between social responsibility and value of firms listed at Tehran’s stock exchange. 150 firms listed at Tehran’s stock exchange were randomly selected and their book values and market values were recorded since 2006-2011. Their scores for social responsibility were collected by questionnaires and were analyzed by fitting regression models. The findings suggested that acceptance of social responsibilities is significantly positively and linearly correlated wit h firm’s values. However two at of four responsibilities including legal, economic, moral and humanitarian ones were confirmed. It means the legal and economic responsibilities were confirmed. The results showed that the impact of social responsibilities on firm’s values could be accepted. Social responsibility involves the relationships between firm and society. Specifically, it concerns the effects of firms’ activities on the individuals and society. The concept has been widely used in social and political literatures. On the other hand, value of firms has always been studied as one of the criteria for firms’ growth and development by many researchers. Key Words: Book value, Economic responsibility, Humanitarian responsibility, Legal responsibility, Market value, Moral responsibility. Introduction The investigation carried out on strategic areas of the firms showed that the modern firms are under psychological pressures by their traditional stockholders in addition to other(social) stockholders in terms of responding to the manner the firms run and also for objective of supplying their required financial sources. these new pressures on the firms are related to the firm’s social responsibilities while not related to its operational strategic decisions since the modern firms are evaluated based on traditional criteria of performance together with regarding other social criteria by their stockholders (Ibrahimi and Dizfooli, 2010). The management needs not only to accept the responsibilities for effectiveness of the operation s for its affiliated firms but it is also responsible for the actions carried out against numerous social problems. The economic units have to accept their social responsibilities as against the economic responsibilities (Baker 2003).