Based on the sample data of Shanghai and Shenzhen A-share listed companies from 2003 to 2022,this paper empiri-cally examines the influence of corporate social responsibility on stock price synchronicity,and examines the moderating effects of cor-porate executive gender characteristics on the above relationship.It is found that there is a significant negative relationship between cor-porate social responsibility and stock price synchronicity.The gender characteristics of female executives can enhance the inhibition effect of corporate social responsibility on stock price synchronicity to a certain extent.From the perspective of the impact of information transmission on stock prices,this study expands current literature on corporate social responsibility,gender characteristics of female ex-ecutives and their impact on stock price fluctuations,which is conducive to improving the disclosure and supervision of accounting in-formation in the capital market,alleviating the asymmetry of internal and external information of enterprises,and have a certain signa-ling effect of helping investors to understand the specific information of enterprises,reducing the large fluctuations of stock prices and stabilizing the order of the financial market.
关键词
企业社会责任/股价同步性/女性高管/股权结构
Key words
corporate social responsibility/stock price synchronicity/female executives/ownership structure
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