چکیده:
1- INTRODUCTION The business strategy of companies plays an essential role in achieving the company's goals, and strategies should be adopted based on the company's ability, resources, and goals. Choosing the wrong strategy can jeopardize the interests of the stakeholders and the company. As a result, the adoption of strategy by managers should be monitored. Meanwhile, corporate governance with two arms of non-commissioned managers and the audit committee as tools for monitoring the performance of managers and the overall performance of companies, is probably effective in adopting business strategy. Therefore, the purpose of this study is to provide new evidence about the relationship between the quality of the board of directors and the audit committee as two fundamental pillars of corporate governance, in relation to the aggressive business strategy of commercial units. 2- THEORETICAL FRAMEWORK One of the variables influencing the policies and performance of companies is business strategy. Strategy includes a set of decision-making rules that direct the organization's overall behavior. These decision-making rules determine the organization's relationships with its external environment. In general, business strategy consists of integrated actions in search of competitive advantage. In the organizational literature, two major, different and complementary concepts are examined for the survival and progress of organizations, those two concepts are management and governance. In the concept of management, the main emphasis is on the methods of achieving organizational goals, while the concept of governance is a supervisory concept. The characteristics of the board of directors of companies refer to the mechanisms of corporate governance and the role of board members in monitoring the affairs of companies. Corporate governance is a system that not only enhances the relationship between different parties (shareholders, managers and investors of the company), but also ensures the availability of appropriate resources among competing users. In addition, it provides structures through which firm goals are formulated and ways to achieve goals as well as performance reviews. The purpose of creating an audit committee is to create a set of experts and specialists to monitor management activities on behalf of company owners.The audit committee is a sub-committee under the framework of corporate governance, in which the board of directors assigns some supervisory responsibilities to it. The board of directors and the audit committee are the main pillars of corporate governance and have the duty of fiduciary and protecting the interests of shareholders and supervise the implementation of the company's internal controls. 3- METHODOLOGY The current research is applied and from the methodological point of view, the correlation is causal type (post-event). The statistical population of the research is all the companies admitted to the Tehran Stock Exchange, and using screening, 131 companies were selected as the research sample and were investigated in the 10-year period between 1390 and 1399. 4- RESULTS & DISCUSSION The results of the research hypotheses test showed that in the first hypothesis, the quality of the board of directors has a direct effect on the aggressive business strategy of the companies. The results of the second hypothesis also showed that the quality of the audit committee has no effect on the aggressive business strategy of the companies. 5- CONCLUSIONS & SUGGESTIONS Companies that want to progress and surpass their competitors in the market by choosing an aggressive strategy and using new operational plans and new technologies, actually accept a kind of risk and hazard that should be in the shadow of principled and accurate planning, so such companies They require strict internal controls that are the result of managers' careful supervision and strong and quality corporate governance, and the results obtained show that improving the quality of the board of directors can have a positive impact on choosing an aggressive business strategy.
خلاصه ماشینی:
In this regard, corporate governance, with its two arms—non-executive managers and the audit committee—as tools for monitoring managerial performance and the overall performance of companies, is likely effective in adopting business strategies; thus, the aim of this study is to provide new evidence regarding the relationship between board of directors governance and the audit committee, as two fundamental pillars of corporate governance, in relation to the aggressive business strategy of commercial units.
Companies that seek progress and to get ahead of competitors in the market, by choosing an aggressive strategy and using modern operational programs and new technologies, actually accept a type of risk and hazard that must be under principled and precise planning; therefore, such companies require strict internal controls, which are the result of precise managerial supervision and having strong and high-quality corporate governance, and the results obtained are evidence of this, showing that improving the quality of the board of directors can have a direct impact on the choice of aggressive business strategy.
Therefore, the board of directors and the audit committee, as the main pillars of corporate governance, have the duty of stewardship and protecting the interests of shareholders and supervising the implementation of the company's internal controls, and they also influence the quality of financial reporting (Menon et al.
Stronger corporate governance and audit committees are necessary to create assurance and maintain investor confidence in aggressive type strategies is required (Suryadinata & Herusetya, 2022); therefore, based on the stated theoretical and empirical foundations, the research hypotheses have been designed and presented as follows: First hypothesis: The quality of the board of directors influences the selection of an aggressive business strategy by companies.
(
, 
, 
)
