Corporate Social Responsibility,Female Executives and Stock Price Synchronicity——Empirical evidence from the perspective of information asymmetric
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.
corporate social responsibilitystock price synchronicityfemale executivesownership structure
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