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

Authors: Md. Jahidur Rahman; Zeren Xu

Addresses: College of Business and Public Management, Wenzhou-Kean University, China ' Wake Forest University, 1834 Wake Forest Road, Winston-Salem, NC 27109, USA

Abstract: 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.

Keywords: corporate social responsibility; CSR; stock price synchronicity; China.

DOI: 10.1504/IJMFA.2024.137623

International Journal of Managerial and Financial Accounting, 2024 Vol.16 No.2, pp.180 - 195

Received: 26 Nov 2022
Accepted: 24 Dec 2022
Published online: 02 Apr 2024 *