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

Thuy, Cao Thi Mien; Trung, Trinh Quoc; Khương, Nguyễn Vĩnh; Liêm, Nguyễn Thanh

doi:10.3390/su132212557

Cited by 6 publications

(4 citation statements)

References 68 publications

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“…The results show that CSR indirectly affects firms' accounting profitability by enhancing employee commitment and directly affects firms' profitability. CSR disclosure has a negative effect on the share price collapse of listed companies in Vietnam, as confirmed by Thuy et al [66]. Listed companies should perform CSR practices and disclosures to improve enterprise performance and reduce the risk of share price collapse.…”

Section: -5-csr and Ep Under Financing Constraintsmentioning

confidence: 86%

“…However, note that research on the relationship between CSR, business financial performance, and democratic leadership style is in its infancy. For example, McGuire et al [66,67] studied the relationship between the level of competence of collegial leaders and CSR and could not confirm any substantive relationship between them. Thomas and Simerly [87], Simerly [88] proved that even when a company's peer leaders are actively focused on social goals, their high salary levels offset the effect of CSR and reduce the company's financial performance.…”

Section: -6-impact Of Leadership On Csr Interactions and Business Fin...mentioning

confidence: 98%

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Impact of Corporate Social Responsibility on the Effectiveness of Companies' Business Activities

Vasiljeva,

Semin,

Ponkratov

et al. 2023

Emerg Sci J

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Background: Corporate social responsibility (CSR) has a great influence on the sustainability of company development, so it can be considered a business model for business effectiveness. Objective: The objective of the research is to determine the mutual influence of real-estate companies’ activities and CSR effectiveness in different countries. This study examines indicators for assessing companies’ financial stability, CSR, and working capital management's influence on the activity effectiveness of real-estate companies. Methods/Analysis: Questionnaires, the principal component method, the Sobel test, and linear regression analysis are used to evaluate the relationship between CSR and the business performance of autocratic management-style companies. The authors’ algorithm for assessing a company’s financial stability, CSR, and capital management, which affect the efficiency of companies, is proposed. Findings: Empirical analysis has shown that management has no mediating effect on CSR and enterprise performance relationships for companies with high financial stability and working capital, though it has a stimulating effect for low financial stability companies. CSR and business performance have positive relationships in companies, but despite financial stability growing, the autocratic leadership style reduces interest in CSR development. This paper conceptualizes the impacts of CSR on the effectiveness of companies. Novelty: The novelty of this study is to create theoretical and practical provisions aimed at laws and regulations. Doi: 10.28991/ESJ-2023-07-03-08 Full Text: PDF

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Section: -5-csr and Ep Under Financing Constraintsmentioning

confidence: 86%

Section: -6-impact Of Leadership On Csr Interactions and Business Fin...mentioning

confidence: 98%

Impact of Corporate Social Responsibility on the Effectiveness of Companies' Business Activities

Vasiljeva,

Semin,

Ponkratov

et al. 2023

Emerg Sci J

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“…Xu et al [ 19 ] found that there was a positive relationship between corporate tax avoidance and the readability of CSR reports. Thuy et al [ 20 ] found that the readability of CSR reports had a negative influence on stock price crash risk. There are many research findings on the readability of CSR reports.…”

Section: Literature Reviewmentioning

confidence: 99%

Earnings management and readability of CSR report: Evidence from China

Ren,

Yao

2024

PLoS ONE

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The literature has confirmed that when managers increase profits through earnings management, the readability of annual reports may be reduced Lo (2017), Ye (2018). Whether this conclusion is suitable for Chinese corporate social responsibility (CSR) reports, however, is still unclear. Based on the panel data of 5083 Chinese non-financial listed companies from 2010 to 2019, this paper adopts multiple linear regression to investigate the impact of earnings management on the readability of Chinese CSR reports. The results show that: (1) There is a significant negative correlation between earnings management and the readability of Chinese CSR reports, with the readability of Chinese annual reports as a mediating variable. (2) The negative effect is more significant when companies are not punished for violations, when the internal control index is low, when companies lack ISO14001 certification and when companies do not have independent third-party authentication for Chinese CSR reports. (3) When earnings management just exceeds zero, the readability of Chinese CSR reports decreases. (4) The economic consequences of reducing the readability of Chinese CSR reports are that financing costs are increased and environmental performance is decreased. To improve the quality of information disclosure of listed companies, the recommendations are as follows: First, the government should issue CSR reporting standards to reduce the manipulation of Chinese CSR reports. Second, Chinese CSR reports disclosed by listed companies must be audited by independent third parties to enhance the credibility of the information. Third, the company needs to strengthen its external and internal supervision to reduce the manipulation space for the readability of Chinese CSR reports. This study extends the negative relationship between earnings management and the readability from annual reports to Chinese CSR reports. To prevent investors from detecting earnings management, the readability of Chinese CSR reports may be reduced. At the same time, the study has definitely added value to the existing literature in the domain of CSR.

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“…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

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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.

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

Cited by 6 publications

References 68 publications

Impact of Corporate Social Responsibility on the Effectiveness of Companies' Business Activities

Impact of Corporate Social Responsibility on the Effectiveness of Companies' Business Activities

Earnings management and readability of CSR report: Evidence from China

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

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