الفهرس | Only 14 pages are availabe for public view |
Abstract The importance of this research is due to the significant increase in international interest in environmental and social issues with the aim of achieving sustainable development, especially in light of economic collapses, financial crises, and climate change. The research aims to study the mediating role of sustainability reports quality on the relationship between sustainability reports disclosure level and stock price crash risk, as its main goal is to answer the question “What is the effect of mediating the sustainability reports quality on the relationship between sustainability reports disclosure level and stock price crash risk?” Using a sample of 20 companies listed in the Egyptian sustainability index S&P EGX ESG from 2017 to 2022. The proposed model and hypotheses were analyzed using structural equation modeling. The results indicated that there is a statistically significant negative relationship between the disclosure level of sustainability reports and stock price crash risk, as the increase in the level of disclosure of sustainability reports leads to a decrease in the stock price crash risk. In addition, there is a statistically significant negative relationship between the quality of sustainability reports and stock price crash risk, as the increase in the quality of sustainability reports leads to a decrease in the stock price crash risk. Also, there is a statistically significant positive relationship between the disclosure level of sustainability reports and sustainability reports quality, as the increase in the disclosure level of sustainability reports leads to an increase in the sustainability reports quality. Lastly, the sustainability reports quality has a statistically significant negative effect on the relationship between sustainability reports disclosure level and stock price crash risk, as it increases the negative effect between sustainability reports disclosure level and stock price crash risk for the companies in the study sample. |