Does Quality of Corporate Governance Moderate the Relationship between Corporate Social Responsibility and Stock Price Crash Exposure

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F70883521%3A28120%2F21%3A63532878" target="_blank" >RIV/70883521:28120/21:63532878 - isvavai.cz</a>

Result on the web

<a href="http://ojs.ual.es/ojs/index.php/eea/article/view/6396" target="_blank" >http://ojs.ual.es/ojs/index.php/eea/article/view/6396</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.25115/eea.v39i12.6396" target="_blank" >10.25115/eea.v39i12.6396</a>

Result language

angličtina

Original language name

Does Quality of Corporate Governance Moderate the Relationship between Corporate Social Responsibility and Stock Price Crash Exposure

Original language description

This study explores the relationship between firm’s investment decision the relationship between corporate social responsibility and vulnerability to stock market crashes and how this relationship is moderated by the norm of corporate governance was empirically explored in this research article. This study used a panel data analysis using a group of 58 companies selected during the years 2009-2018 from operating in various industries hawking their stock on the Pakistan Stock Exchange (PSX) to investigate this interaction effect. To quantify the company&apos;s share price probability of a crash, an inverse restrictive skewness (NCSKEW) of returns and bottom-to-up variance (DUVOL) spread has been used as a proxy. The results of this research suggest that the risk of a share price slump is adversely and significantly linked to CSR. Consistency structures of governance mechanisms (size of the board, percentage of autonomous directors on board, concentration of ownership, percentage of executive directors onboard) have a substantial moderating impact on the risk of a fall of the share price.

Czech name

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Czech description

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Type

J_SC - Article in a specialist periodical, which is included in the SCOPUS database

CEP classification

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OECD FORD branch

50206 - Finance

Project

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Continuities

V - Vyzkumna aktivita podporovana z jinych verejnych zdroju

Publication year

2021

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Name of the periodical

Estudios de Economia Aplicada

ISSN

1133-3197

e-ISSN

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Volume of the periodical

39

Issue of the periodical within the volume

12

Country of publishing house

ES - SPAIN

Number of pages

18

Pages from-to

1-18

UT code for WoS article

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EID of the result in the Scopus database

2-s2.0-85120494481