Document Type : Research Article
Authors
1 Department of Accounting, Faculty of Accounting, Payame Noor University, Ramhormoz, Iran.
2 Department of Management, Aras international campus, Tehran University Campus, Tehran, Iran
3 Department of Accounting, Shoushtar Branch, Islamic Azad University, Shoushtar, Iran
4 Department of management, Faculty of Social Sciences and Economics, alzahra university, Tehran, Iran
Abstract
The present study aims to investigate the effect of corporate irresponsibility on stock price crash risk by emphasizing the moderating role of financial expertise of the audit committee in companies listed on the Tehran Stock Exchange. To estimate the multiple regression model to test the hypothesis, the aforementioned model was used using panel data by the pooled data method in companies listed on the Tehran Stock Exchange and Eviews 9 statistical software was used for statistical analysis. In this research, 150 companies (1050 company-years) were selected to test the research hypothesis between 2014 and 2020. The Levin, Lien and Wu tests were used to test the reliability of research data, the Jarque-Bera test was used to determine the normality of the data, the regression method was used to express the relationship between variables, t-test statistics to test the significance of regression coefficients, and finally the F-test statistic was used to determine the significance of the equation. In general, the results of testing the research hypotheses indicate that corporate irresponsibility has a significant positive effect on stock price crash risk. The results also show that the financial expertise of the audit committee has a significant moderating effect on the relationship between corporate irresponsibility and stock price crash risk. In fact, the financial expertise of the audit committee reduces the positive relationship between corporate irresponsibility and stock price crash risk.
Keywords
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