The mediating effect of stock price crash risk on the relationship between corporate social responsibility and cost of equity moderated by state ownership: <scp>Moderated‐mediation</scp> analysis

Thuy, Cao Thi Mien; Khương, Nguyễn Vĩnh; Canh, Nguyen Thi; Nguyen, Liem Van

doi:10.1002/csr.2276

Cited by 12 publications

(10 citation statements)

References 64 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Most distinctively, the securities market crash of 1929 was a key thing that occasioned the depression of the 1930s. Stock price crash risk is an important consideration for the securities market (Thuy et al, 2022). Managers, strategy makers, stakeholders, and corporate policymakers all have the incentive to look at the subsidizing factor and reduce the crash risk in line with information directness (Jin and Myers, 2006), impervious financial disclosure, and earning quality (Hutton et al, 2009) corporate minimization (Kim and Zhang, 2014), the worth of chief money dealer possibility portfolio (Kim and Zhang, 2016) chief military officer CEO boldness and excess incentive (Lin et al, 2009) institutional stakeholder ownership (An and Zhang, 2013;Callen and Fang, 2013) corporate social responsibility and compassion and accounting linked with crash risk.…”

Section: Introductionmentioning

confidence: 99%

Impact of Audit Quality on Stock Price Crash Risk: Evidence from Pakistan Stock Exchange

et al. 2022

View full text Add to dashboard Cite

Stock price crash risk is an unfavourable event in business that may decrease the shareholder’s wealth and hurt stability and capital market growth. This study investigates the impact of audit quality measured by auditor industry specialization (AIS), audit tenure (AT), audit committee independence (ACI), audit firm size(AFS)) on stock value crash (measured by down-to-up unpredictability) for a sample of 70 non-financial firms listed in Pakistan Stock Exchange during from 2009 to 2018. Efficient governance enriches financial and operational directness, which cuts down the stock value crashes in rotation. Facing crash risk difficulties, traders impart more funds to stocks of well-regime organizations. The fixed effect model results show that AIS and ACI have a negative and significant impact on crash risk, while there is a positive impact of AFS on stock price crash risk. Moreover, it concludes that it has an insignificant impact on stock price crash risk in Pakistan. It is concluded that effective audit quality lessens the difficulty of data abnormality and improves stock price crash risk. This study has importance for investors to help them identify the most liquid stock and will enable them to decide which stocks to acquire and which to dispose of. This study will also be helpful for academics and scholars to bridge this gap on the influence of audit quality practices on the economic consequences of Pakistan. It will be useful for future research as well as because it will become part of the empirical literature on the economic consequence of stock markets.

show abstract

Section: Introductionmentioning

confidence: 99%

Impact of Audit Quality on Stock Price Crash Risk: Evidence from Pakistan Stock Exchange

et al. 2022

View full text Add to dashboard Cite

show abstract

“…To further verify the mediating effect, we adopted a Sobel test based on Thuy et al's studies [46,47]. The results in Table 6 show that the mediating influence of green innovation behavior on the relationship between green learning orientation and sustainable performance is significant.…”

Section: Mediating Analysismentioning

confidence: 99%

How to Embrace Sustainable Performance via Green Learning Orientation: A Moderated Mediating Model

Wang

Zhang

2022

Sustainability

View full text Add to dashboard Cite

Manufacturing enterprises have realized that organizational learning is conducive to the development of environmental and economic sustainability. However, prior literature has paid less attention to how green learning orientation affects sustainable performance. Based on organizational learning theory, this article constructs a moderated mediating model of the impact of green learning orientation on sustainable performance, using green innovation behavior as the mediating variable and corporate social responsibility (CSR) as the moderating variable. Through the empirical analysis of 193 valid questionnaires from middle and senior managers in Chinese manufacturing enterprises, the results show that green learning orientation positively affects green innovation behavior and sustainable performance, green innovation behavior plays a partial mediating role between green learning orientation and sustainable performance, the relationship between green learning orientation and green innovation behavior depends on CSR, and the mediating effect of green innovation behavior is moderated by CSR. The results provide a theoretical basis and practical implications for promoting green learning and improving sustainable performance of enterprises.

show abstract

“…Stock price crash risk is defined as the circumstance of extreme negative values in the distribution of returns on specific stocks (Chen et al, 2001; Kim et al, 2014; Thuy et al, 2022). Scholars claimed that information asymmetry between firms' insiders and outsiders mainly drives stock price crashes (Hutton et al, 2009; Jin & Myers, 2006).…”

Section: Literature Reviewmentioning

confidence: 99%

“…Stock price crash risk has attracted scholarly concerns, particularly since the 2008 financial crisis. It refers to the circumstance of extreme negative values in the distribution of returns on specific stocks (Chen et al, 2001; Kim et al, 2014; Thuy et al, 2022). Recent literature has begun to investigate the impact of CSR on crash risk, however, yielding mixed findings (Dumitrescu & Zakriya, 2021; Kim et al, 2014; Lee, 2016; Wu & Hu, 2019).…”

Section: Introductionmentioning

confidence: 99%

Corporate social responsibility, family involvement, and stock price crash risk

Yang

Wang

Bai

2022

Corp Soc Responsibility Env

View full text Add to dashboard Cite

This study responds to the call in Vazquez's (2018) by providing more empirical evidence on ethical issues in family business. Drawing from the agency theory, we provide new evidence about the "CSRstock price crash risk" nexus by examining the moderating effect of family involvement. With a focus on the Chinese capital market, we find that corporate social responsibility (CSR) negatively affects stock price crash risk. Such negative correlation is stronger for family firms as compared with nonfamily firms. Three proxies of family involvement, termly family member as a CEO, lower proportion of variable compensation to CEO, and greater family control, can strengthen the alleviating effect of CSR on crash risk. Nevertheless, a secondgeneration successor as executive does not exert any moderating effect. Our findings advance the comprehension of the "CSR-crash risk" nexus from the family business viewpoint and emphasize the important role of CSR in stabilizing the stock market.

show abstract

The mediating effect of stock price crash risk on the relationship between corporate social responsibility and cost of equity moderated by state ownership: Moderated‐mediation analysis

Cited by 12 publications

References 64 publications

Impact of Audit Quality on Stock Price Crash Risk: Evidence from Pakistan Stock Exchange

Impact of Audit Quality on Stock Price Crash Risk: Evidence from Pakistan Stock Exchange

How to Embrace Sustainable Performance via Green Learning Orientation: A Moderated Mediating Model

Corporate social responsibility, family involvement, and stock price crash risk

Contact Info

Product

Resources

About