Environmental corporate social responsibility and stock price crash risk: The role of environmental performance and ISO 14001
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F62690094%3A18450%2F24%3A50021685" target="_blank" >RIV/62690094:18450/24:50021685 - isvavai.cz</a>
Result on the web
<a href="https://www.sciencedirect.com/science/article/pii/S1059056024006191?pes=vor" target="_blank" >https://www.sciencedirect.com/science/article/pii/S1059056024006191?pes=vor</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.1016/j.iref.2024.103627" target="_blank" >10.1016/j.iref.2024.103627</a>
Alternative languages
Result language
angličtina
Original language name
Environmental corporate social responsibility and stock price crash risk: The role of environmental performance and ISO 14001
Original language description
This paper examines the impact of environmental corporate social responsibility (CSR) on stock price crash risk. Using a sample of publicly listed Chinese firms for the period 2010 to 2020, we find that environmental performance negatively affects crash risk. ISO 14001 certification, however, does not exert a significant effect. The negative relationship between environmental performance and crash risk is mediated by the visibility of the firm, and moderated by the certification of ISO 14001, respectively. In addition, the documented relationship is more evident for firms belonging to heavily polluting industries, non-SOEs and firms with greater media coverage and higher market competitive status. Our results remain consistent after controlling for endogeneity concerns and a batch of robustness tests. This study provides new insights into the CSR literature by highlighting the risk-mitigating role of environmental CSR in firms’ future stock price crashes. © 2024 Elsevier Inc.
Czech name
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Czech description
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Classification
Type
J<sub>imp</sub> - Article in a specialist periodical, which is included in the Web of Science database
CEP classification
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OECD FORD branch
50202 - Applied Economics, Econometrics
Result continuities
Project
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Continuities
I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace
Others
Publication year
2024
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Name of the periodical
International Review of Economics and Finance
ISSN
1059-0560
e-ISSN
1873-8036
Volume of the periodical
96
Issue of the periodical within the volume
November
Country of publishing house
NL - THE KINGDOM OF THE NETHERLANDS
Number of pages
19
Pages from-to
"Article number: 103627"
UT code for WoS article
001325941500001
EID of the result in the Scopus database
2-s2.0-85203273776