Investigating the effect of corporate social responsibility on systemic risk and idiosyncratic risk: Using data envelopment analysis model

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Ramezannia Hassan; REZAEI FARZIN

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Title

Investigating the effect of corporate social responsibility on systemic risk and idiosyncratic risk: Using data envelopment analysis model

Author(s)

Ramezannia Hassan | REZAEI FARZIN | Issue Writer Certificate

Keywords

Data Envelopment AnalysisQ1

Social ResponsibilityQ2

Systematic RiskQ1

Unsystematic RiskQ1

Abstract

The aim of this study is to investigate the influence of Social Responsibility on systemic risk and idiosyncratic (unsystematic) risk in firms listed in Tehran Stock Exchange. In order to calculate systemic risk and idiosyncratic risk, the market model is used and corporate Social Responsibility index calculated by using Data Envelopment Analysis (input-oriented and output-oriented); for testing research hypotheses, data of 90 listed companies in Tehran Stock Exchange during 2011 to 2015 were used. Results showed that input-oriented Social Responsibility and output-oriented Social Responsibility have a significant and negative effect on systemic risk and idiosyncratic risk. Social Responsibility reduces the risk (systematic and idiosyncratic), because companies with high social capital have a great ability to deal with shocks (domestic or foreign). Particularly suitable relationships among stockholders make such companies secure like insurance, which maintains demand and supply coherently during a crisis and enhances the flexibility in sudden events and facilitates the recycling and stable growth.

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APA: Copy

Ramezannia, Hassan, & REZAEI, FARZIN. (2018). Investigating the effect of corporate social responsibility on systemic risk and idiosyncratic risk: Using data envelopment analysis model. IRANIAN JOURNAL OF BEHAVIORAL & VALUED ACCOUNTING, 2(4 ), 189-214. SID. https://sid.ir/paper/260494/en

Vancouver: Copy

Ramezannia Hassan, REZAEI FARZIN. Investigating the effect of corporate social responsibility on systemic risk and idiosyncratic risk: Using data envelopment analysis model. IRANIAN JOURNAL OF BEHAVIORAL & VALUED ACCOUNTING[Internet]. 2018;2(4 ):189-214. Available from: https://sid.ir/paper/260494/en

IEEE: Copy

Hassan Ramezannia, and FARZIN REZAEI, “Investigating the effect of corporate social responsibility on systemic risk and idiosyncratic risk: Using data envelopment analysis model,” IRANIAN JOURNAL OF BEHAVIORAL & VALUED ACCOUNTING, vol. 2, no. 4 , pp. 189–214, 2018, [Online]. Available: https://sid.ir/paper/260494/en

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