From Corporate Social Responsibility to Stock Price Crash Risk: Modelling the Mediating Role of Firm Performance in an Emerging Market

The literature on the link between corporate social responsibility (CSR) disclosure and stock price crash risk suggests that it is far more complicated than a plain one-to-one relationship. In this study, we examine how CSR disclosure affects the stock price crash risk and whether firm performance a...

Descripción completa

Guardado en:

Detalles Bibliográficos
Autores principales:	Cao Thi Mien Thuy, Trinh Quoc Trung, Nguyen Vinh Khuong, Nguyen Thanh Liem
Formato:	article
Lenguaje:	EN
Publicado:	MDPI AG 2021
Materias:	corporate social responsibility firm performance stock price crash risk mediation roles Environmental effects of industries and plants TD194-195 Renewable energy sources TJ807-830 Environmental sciences GE1-350
Acceso en línea:	https://doaj.org/article/e08731cb26384d0f9749a2462be5aeb1
Etiquetas:	Agregar Etiqueta Sin Etiquetas, Sea el primero en etiquetar este registro!

id	oai:doaj.org-article:e08731cb26384d0f9749a2462be5aeb1
record_format	dspace
spelling	oai:doaj.org-article:e08731cb26384d0f9749a2462be5aeb12021-11-25T19:02:04ZFrom Corporate Social Responsibility to Stock Price Crash Risk: Modelling the Mediating Role of Firm Performance in an Emerging Market10.3390/su1322125572071-1050https://doaj.org/article/e08731cb26384d0f9749a2462be5aeb12021-11-01T00:00:00Zhttps://www.mdpi.com/2071-1050/13/22/12557https://doaj.org/toc/2071-1050The literature on the link between corporate social responsibility (CSR) disclosure and stock price crash risk suggests that it is far more complicated than a plain one-to-one relationship. In this study, we examine how CSR disclosure affects the stock price crash risk and whether firm performance acts as a mediating variable in this relationship. The CSR disclosure index is built using the content analysis technique and the GRI criteria. We choose 225 businesses in Vietnam, comprising 159 firms listed on HOSE and 66 firms listed on HNX. Using the techniques of OLS, LOGIT, GMM, and the Sobel test and replacing different measures of dependent and mediator variable to enhance the robustness of our findings, we reach two important results. To begin with, CSR disclosure has a negative influence on the stock price crash risk of Vietnam’s listed firms. Second, in the aforementioned relationship, firm performance serves as an intermediate. Our results imply that listed firms should engage in CSR practices and disclosure in order to raise the firm’s performance and lower the stock price crash risk.Cao Thi Mien ThuyTrinh Quoc TrungNguyen Vinh KhuongNguyen Thanh LiemMDPI AGarticlecorporate social responsibilityfirm performancestock price crash riskmediation rolesEnvironmental effects of industries and plantsTD194-195Renewable energy sourcesTJ807-830Environmental sciencesGE1-350ENSustainability, Vol 13, Iss 12557, p 12557 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	corporate social responsibility firm performance stock price crash risk mediation roles Environmental effects of industries and plants TD194-195 Renewable energy sources TJ807-830 Environmental sciences GE1-350
spellingShingle	corporate social responsibility firm performance stock price crash risk mediation roles Environmental effects of industries and plants TD194-195 Renewable energy sources TJ807-830 Environmental sciences GE1-350 Cao Thi Mien Thuy Trinh Quoc Trung Nguyen Vinh Khuong Nguyen Thanh Liem From Corporate Social Responsibility to Stock Price Crash Risk: Modelling the Mediating Role of Firm Performance in an Emerging Market
description	The literature on the link between corporate social responsibility (CSR) disclosure and stock price crash risk suggests that it is far more complicated than a plain one-to-one relationship. In this study, we examine how CSR disclosure affects the stock price crash risk and whether firm performance acts as a mediating variable in this relationship. The CSR disclosure index is built using the content analysis technique and the GRI criteria. We choose 225 businesses in Vietnam, comprising 159 firms listed on HOSE and 66 firms listed on HNX. Using the techniques of OLS, LOGIT, GMM, and the Sobel test and replacing different measures of dependent and mediator variable to enhance the robustness of our findings, we reach two important results. To begin with, CSR disclosure has a negative influence on the stock price crash risk of Vietnam’s listed firms. Second, in the aforementioned relationship, firm performance serves as an intermediate. Our results imply that listed firms should engage in CSR practices and disclosure in order to raise the firm’s performance and lower the stock price crash risk.
format	article
author	Cao Thi Mien Thuy Trinh Quoc Trung Nguyen Vinh Khuong Nguyen Thanh Liem
author_facet	Cao Thi Mien Thuy Trinh Quoc Trung Nguyen Vinh Khuong Nguyen Thanh Liem
author_sort	Cao Thi Mien Thuy
title	From Corporate Social Responsibility to Stock Price Crash Risk: Modelling the Mediating Role of Firm Performance in an Emerging Market
title_short	From Corporate Social Responsibility to Stock Price Crash Risk: Modelling the Mediating Role of Firm Performance in an Emerging Market
title_full	From Corporate Social Responsibility to Stock Price Crash Risk: Modelling the Mediating Role of Firm Performance in an Emerging Market
title_fullStr	From Corporate Social Responsibility to Stock Price Crash Risk: Modelling the Mediating Role of Firm Performance in an Emerging Market
title_full_unstemmed	From Corporate Social Responsibility to Stock Price Crash Risk: Modelling the Mediating Role of Firm Performance in an Emerging Market
title_sort	from corporate social responsibility to stock price crash risk: modelling the mediating role of firm performance in an emerging market
publisher	MDPI AG
publishDate	2021
url	https://doaj.org/article/e08731cb26384d0f9749a2462be5aeb1
work_keys_str_mv	AT caothimienthuy fromcorporatesocialresponsibilitytostockpricecrashriskmodellingthemediatingroleoffirmperformanceinanemergingmarket AT trinhquoctrung fromcorporatesocialresponsibilitytostockpricecrashriskmodellingthemediatingroleoffirmperformanceinanemergingmarket AT nguyenvinhkhuong fromcorporatesocialresponsibilitytostockpricecrashriskmodellingthemediatingroleoffirmperformanceinanemergingmarket AT nguyenthanhliem fromcorporatesocialresponsibilitytostockpricecrashriskmodellingthemediatingroleoffirmperformanceinanemergingmarket
_version_	1718410436274028544

From Corporate Social Responsibility to Stock Price Crash Risk: Modelling the Mediating Role of Firm Performance in an Emerging Market

Ejemplares similares