Effect of corporate social responsibility on the stock price synchronicity in China

Autor: Rahman, Md. Jahidur, Xu, Zeren
Zdroj: International Journal of Managerial and Financial Accounting; 2024, Vol. 16 Issue: 2 p180-195, 16p
Abstrakt: The purpose of this paper is to discover the possible relationship incurred between corporate social responsibility (CSR) and stock price synchronicity in China. A regression model is constructed for the empirical test on a sample of 9,787 firm-year observations from Chinese A-listed firms from 2011 to 2020. Results show a positive relationship between CSR and stock synchronicity, which is robust to alternative variables and have no multi-collinearity problem. This study can guide investors and managers in socially responsible investment decision making in the Chinese stock market.
Databáze: Supplemental Index