The current study aims to investigate the relationship between managerial entrenchment and firm risk-taking and corporate social responsibility in two developing countries. The study is carried out based on the information from listed firms on the Tehran and Iraq Stock Exchange by selecting a sample of 121 firms in the Iranian side and 37 firms in the Iraqi side during 2011–2017. Hypothesis testing is performed using panel estimators in the adjusted regression model. The results show a significant relationship between managerial entrenchment and social responsibility disclosure and firm risk-taking both in the Iranian and Iraqi Stock Exchange. Moreover, no relationship was evident between social responsibility disclosure and firm risk-taking. On the other hand, results show that in firms with higher risk-taking, there is a strong relationship between managerial entrenchment and social responsibility both in the Iranian and Iraqi firms.

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