Title of article :
Corporate Social Responsibility and Stock Price Crash Risk: Evidence from an Emerging Market
Author/Authors :
Khajavai, Shokrollah Faculty of Accounting, Shiraz University , Taghizadeh, Reza Faculty of Accounting, Shiraz University , Sadeghzadeh Maharluie, Mohammad Faculty of Accounting, Shiraz University , Rezaee, Gholamreza Department of Accounting - Marvdasht Branch - Islamic Azad University
Abstract :
The main purpose of this study is to investigate the relationship between
corporate social responsibility (CSR) and stock price crash risk of companies
listed on Tehran Stock Exchange (TSE). The empirical data include 75
companies listed on the TSE, over a ten-year period from 2007 to 2016.
Content analysis is used for measuring the CSR. In addition, a negative
skewness was used to measure stock price crash risk. The statistical analysis
of multiple linear regression was used to test the research hypotheses. The
results of the researchers’ analysis indicated that there is a significant and
negative relationship between CSR and stock price crash risk. The present
study contributes to the literature by providing empirical evidence about the
role of CSR in stock price crash risk from an Islamic and developing country.
Keywords :
Islamic country , Corporate Social Responsibility (CSR) , Tehran Stock Exchange (TSE) , Stock Price Crash Risk
Journal title :
Iranian Journal of Accounting, Auditing and Finance (IJAAF)
