| Summary: | 碩士 === 東吳大學 === 會計學系 === 104 === Recent popular topic of global is corporate social responsibility, corporate social
responsibility by disclose the report, the company can improve the transparency of
information, the company's stakeholders a better understanding of the company's
information, many companies prefer to invest corporate social responsibility . The
company's investors are concerned about company's stock price, afraid of crash, this
study to investigate relationship between corporate social responsibility and crash
risk.
This study investigates whether corporate social responsibility (CSR) mitigates or
contributes to stock price crash risk. , following Chen et al. (2001) measure crash, is
negative coefficient of skewness (NCSKEW), and the sample period for the period
2008-2014, has selected in Corporate Responsibility Magazine best corporate citizen
and pick similar asset size and same industry companies.
We find that firms CSR performance is negatively associated with future crash risk ;
the higher weighted average score(poor ranking) the crash risk relatively high ;
corporate social responsibility human rights score higher(poor ranking) the crash risk
relatively high, the environment、corporate governance score between the crash risk
not reach significant levels.
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