Does Crackdown on Corruption Reduce Stock Price Crash Risk? Evidence from China

Chen, Yunsen; Xie, Yulei; Hong, Yuwen; Zhang, Yanan

doi:10.2139/ssrn.3237345

Cited by 3 publications

(5 citation statements)

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“…Many authors (Andersson, ; Bager, ; Chen, Xie, You, & Zhang, ; Cover & Mustafa, ; Heywood & Meyer‐Sahling, ; Kotchegura, ; Krasovec, Johannsen, Pedersen, & Deželan, ; Marchini et al, ; Matic, ; Rimšaitė, ; Witten, Parker, Holtmeier, & Koffer, ; Zoogah, ) have focused their research on exploring this societal problem in public sector organizations. However, this phenomenon affects the activities of all enterprises in society (Álvarez Etxeberria & Aldaz Odriozola, ; Amor‐Esteban, Galindo‐Villardón, García‐Sánchez, & David, ; Bellaubi & Boehm, ; Brenton‐Rule, Barbieri, & Lester, ; Dos Santos, Guevara, Amorim, & Ferraz‐Neto, ; Giang, Xuan, & Hai, ; Krishnamurti, Shams, & Velayutham, ; Lin & Chuang, ; Shapiro, ; Soreide, ; Witten et al, ).…”

Section: Literature Reviewmentioning

confidence: 99%

“…There is a requirement for risk assessment, but the standard does not provide instructions on how to implement this request under the terms of a specific organization. Several authors (Qian, ; Artaza & Galleguillos, ; Chen et al, ; Krishnamurti et al, ; Pulay & Lucza, ; Hnylytska, Ortynska, Blikhar, & Andienko, ; Shi & Wang, ; Luque & Herrero‐García, ; Costa & Mainardes, ; van der Wal et al, van Der Wal, Graycar, & Kym, ; Kim & Metaksa, ; Hansen, ; Schwartz & Tilling, ; Loughman & Sibery, ) attempted to create a risk assessment for the organization's needs, but such evaluations either did not include bribery or could not be applied in all organizations regardless of size, type of business activity, and so forth. Based on this research, it is obvious that some management systems have weaknesses of solving the problems they are aiming to solve.…”

Section: Literature Reviewmentioning

confidence: 99%

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Mitigating bribery risks to strengthen the corporate social responsibility in accordance with the ISO 37001

Veselovská

Závadský

Závadská

2020

Corp Soc Responsibility Env

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The main aim of this research is to develop an innovative Bribery Risk Index (BRI) to measure organization's level of bribery risk in accordance with the ISO 37001 to strengthen the corporate social responsibility and to verify it under the conditions of selected enterprises. The value of this paper is mainly in providing a possible tool to handle the problem of bribery that has not been successfully solved. The ISO 37001 provides general areas where bribery risks could originate in organization, but it does not provide a specific list of risk factors. It is up to companies to create such risk factors, and this paper provides a possible solution to this challenge by creating a complex list of bribery risk factors and incorporating them into one indicator—the BRI. As such, the proposed BRI is an original approach to assessing an organization's level of bribery risk. The results were achieved through four case studies. The first step was risk management application for bribery risk analysis according to ISO 37001. Findings were used to create a list of criteria with specific importance and consequently the creation of a BRI. The proposed index can also serve to compare organizations' levels of bribery risk regardless of their size and serve in bribery prevention because it identifies the areas in the enterprise where the risk of bribery can be significant and can affect the ability of the organization to perform its functions for its stakeholders.

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Section: Literature Reviewmentioning

confidence: 99%

Section: Literature Reviewmentioning

confidence: 99%

Mitigating bribery risks to strengthen the corporate social responsibility in accordance with the ISO 37001

Veselovská

Závadský

Závadská

2020

Corp Soc Responsibility Env

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“…CSPit = Σ X it n Information: CSPit = CSR performance of company i in year t Financial leverage shows the financing of a company through debt that reflects the value of the company (Kim et al, 2016). According to Chen et al. (2018), the occurrence of negative asymmetry in market returns reflects a basic economic mechanism.…”

Section: Csp (Corporate Social Performance)mentioning

confidence: 99%

“…(2018), the occurrence of negative asymmetry in market returns reflects a basic economic mechanism. This mechanism, according to Chen et al, (2018) is called the leverage effect, when a decrease in stock prices will increase operating and financial leverage, and consequently will increase the volatility of the return. For this reason, financial leverage is used by Chen et al.…”

Section: Csp (Corporate Social Performance)mentioning

confidence: 99%

Strategy, practice and quality of sustainability reports on stock price crash risk

Harmadji

Subroto²,

Saraswati³

et al. 2020

IJRBS

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This study examines the relationship between stock price crash risk (SPCR) or the risk of a stock price collapse with strategy, practice, and quality of sustainability reports. This research uses archival data and verification methods. Data analysis using descriptive statistics, regression, classic assumption, and path analysis. This phenomenon arose due to the large number of SPCRs which resulted in losses for investors in the capital market. Samples were taken based on judgment sampling and found 304 reporting studied during the period from 2010-2017 (8 years). The outcomes of this study are the strategy and practice of standalone sustainability reports have a positive effect on the quality of sustainability reports. The quality of sustainability reports (SRQ) mediates the strategy and practice of standalone sustainability reports against SPCR.

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“…The literature also notes the need to study the prospects for assessing the need to protect (restrict) the third generation of human rightsrights based on collective property ownership [8] in connection with the fight against corruption. After all, any criminal prosecution of the owners of a Corporation has an impact on the value of its securities [9]. The conference of the States parties to the Convention against corruption, in its resolution, stipulated the need to ensure an active and timely exchange of information on the issue under consideration.…”

Section: Discussionmentioning

confidence: 99%

Effective Management of Seized and Confiscated Assets as a Condition for Providing Victims with Access to Justice and Fairness of Procedures Used in Criminal Proceedings: International and Russian Experience

Kamchatov¹,

Timoshenko²,

Kamchatova³

et al. 2021

Proceedings of the Conference on Current Problems of Our Time: The Relationship of Man and Society (CPT 2020)

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Does Crackdown on Corruption Reduce Stock Price Crash Risk? Evidence from China

Cited by 3 publications

References 0 publications

Mitigating bribery risks to strengthen the corporate social responsibility in accordance with the ISO 37001

Mitigating bribery risks to strengthen the corporate social responsibility in accordance with the ISO 37001

Strategy, practice and quality of sustainability reports on stock price crash risk

Effective Management of Seized and Confiscated Assets as a Condition for Providing Victims with Access to Justice and Fairness of Procedures Used in Criminal Proceedings: International and Russian Experience

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