A Behavioral Approach to the Role of Stakeholders in the Corporate Governance Model of the Social Security Organization of Iran and its Affiliated Companies

Objective The purpose of this research is to explain the role of stakeholders in the corporate governance model of the Social Security Organization of Iran and its affiliated companies with a behavioral approach. Methods The presentation of the model was done based on a mixed method with a quantitative and qualitative approach and based on the method of the theory of the foundation. In the qualitative phase, 15 interviews were conducted with management experts and policy makers in companies affiliated to the Social Security Organization until theoretical saturation. Results In general, 6 stakeholder groups of corporate governance in companies affiliated to the Social Security Organization were identified as sub-categories and central phenomena, which are: 1) Institutional stakeholders, 2) Government, 3) Political stakeholders, 4) Network social, 5) economic stakeholders and 6) shareholders. The results showed that in the stakeholder groups of the corporate governance of the studied companies, the factors of power-politics relations, the decision-making process, political bargaining, conflict resolution, setting goals, building trust in the board of directors, common behavioral indicators between the stakeholder groups as core codes. they explain While shareholders, increasing wealth and individual interests; Institutional stakeholders, agency cost reduction goals and information asymmetry; The government, the objectives of the development program and macro policy; Economic stakeholders, the goals of increasing wealth, growth and competitiveness; political stakeholders, coalition goals, increased influence and political power; And social networks also pursue the goals of public interest, building social trust and access to resources specifically. Conclusion Limitations in the application of quantitative statistical methods such as structural equations in articles and sources with a behavioral approach, or topics related to the behavior of groups and stakeholders, which were rarely found in scientific sources. According to the results of the research, economic, social, legal and managerial conditions were the causal conditions that had a direct effect with a coefficient of 0.834 on the behavioral pattern of the beneficiaries. It was also observed that the behavioral indicators of the stakeholder groups in the studied organization and the background factors of the stakeholders' behavioral patterns, including environmental uncertainty, national culture, control mechanisms and organizational complexity, showed an inverse effect (with a ratio of -0.616) on the strategies for improving the corporate governance model. On the other hand, the results show that the relationship between influencing the behavior of beneficiaries and improvement strategies is (-0.351) and therefore the behavioral outcome The stakeholders in these companies have not been in line with the strategies for improving corporate governance. This concept is one of the important findings of this research, which shows the need to review the relationship regulation and the complex role of stakeholders in the social security organization and its affiliated companies to have a positive effect on corporate governance improvement strategies. The results showed that controlling the conflict between stakeholders' interests through monitoring, value monitoring, integration of interests, accountability and transparency can create strategic alignment between stakeholder groups and, as a result, positive outcomes such as positive performance results, value creation, rational decision making. and sustainability for the organization. The innovative aspect of this research is that it addressed the issue of decision-making and its interactions with the stakeholders of the organization by using the mixed research method and tried to design and present a model for these interactions.