How do corporate social responsibility and corporate governance affect stock price crash risk?

Ahmed Imran Hunjra, Rashid Mehmood and Tahar Tayachi

We investigate the impact of corporate social responsibility (CSR) and corporate governance on stock price crash risk in manufacturing sector of India and Pakistan. We collect data of nine years from 2010 to 2018 from DataStream of 353 manufacturing firms. We apply the Generalized Method of Moments (GMM) to the analysis of the data. We find that when firms actively engage in CSR activities, they lead to reduced stock price crash risk. We further find that managerial ownership has a significant positive impact on stock price crash risk, while board size and CEO duality show a significant and negative impact on stock price crash risk.

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Year of publication:	2020
Authors:	Hunjra, Ahmed Imran ; Mehmood, Rashid ; Tayachi, Tahar
Published in:	Journal of risk and financial management : JRFM. - Basel : MDPI, ISSN 1911-8074, ZDB-ID 2739117-6. - Vol. 13.2020, 2/30, p. 1-15
Subject:	corporate governance \| CSR \| GMM \| manufacturing sector \| stock price crash risk \| Corporate Social Responsibility \| Corporate social responsibility \| Corporate Governance \| Corporate governance \| Börsenkurs \| Share price \| Finanzkrise \| Financial crisis

Type of publication:	Article
Type of publication (narrower categories):	Aufsatz in Zeitschrift ; Article in journal
Language:	English
Other identifiers:	10.3390/jrfm13020030 [DOI] hdl:10419/239113 [Handle]
Source:	ECONIS - Online Catalogue of the ZBW

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