[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-31935":3,"doc-seo-31935":26},{"code":4,"msg":5,"data":6},0,"success",{"doc_id":7,"user_id":8,"nickname":9,"user_avatar":10,"doc_module":4,"category_id":11,"category_name":12,"doc_title":13,"doc_description":14,"file_id":15,"file_url":16,"file_type":17,"file_size":18,"view_count":4,"is_deleted":4,"is_public":19,"is_downloadable":19,"audit_status":19,"page_count":11,"language":20,"language_code":21,"table_of_contents":22,"faqs":23,"seo_title":13,"seo_description":14,"update_tm":24,"read_time":25},31935,687197100911,"Himbo","https://ap-avatar.wpscdn.com/avatar/a000239b6f1da00475?_k=1775820430993990792",8,"Research & Report","Economic Modelling 105985","Corporate social responsibility (CSR) disclosure is investigated as a determinant of asset price volatility, extending prior evidence on CSR’s economic consequences. The study applies information asymmetry theory to explain two competing channels: CSR disclosure can reduce information gaps and improve investors’ forecasting, lowering adverse-selection-driven return risk; alternatively, CSR may reflect managerial opportunism and overinvestment, potentially increasing volatility. Empirical analysis on Chinese A-share firms demonstrates that greater CSR disclosure significantly reduces asset price volatility, supported by additional robustness tests using a difference-in-differences design tied to mandatory disclosure.","cbCaibTvRWuHKgQQ","https://ap.wps.com/l/cbCaibTvRWuHKgQQ","pdf",741693,1,"English","en","# Introduction\n## Research motivation and background\n## Theoretical framework: information asymmetry\n## Empirical design and findings\n## Robustness checks","[{\"question\":\"What is the main research question of the study?\",\"answer\":\"How CSR disclosure affects asset price volatility in the Chinese capital market.\"},{\"question\":\"Why might CSR disclosure reduce asset price volatility?\",\"answer\":\"By lowering information asymmetry between managers and investors, it helps investors forecast and reduces adverse selection among traders.\"},{\"question\":\"How is the robustness of the findings assessed?\",\"answer\":\"The paper adds additional tests, including a difference-in-differences model that uses China’s mandatory CSR disclosure policy as an exogenous shock.\"}]",1780520434,20,{"code":4,"msg":27,"data":28},"ok",{"site_id":29,"language":21,"slug":30,"title":13,"keywords":31,"description":14,"schema_data":32,"social_meta":83,"head_meta":85,"extra_data":87,"updated_unix":24},105,"economic-modelling-105985","",{"@graph":33,"@context":82},[34,51,65],{"@type":35,"itemListElement":36},"BreadcrumbList",[37,41,45,48],{"item":38,"name":39,"@type":40,"position":19},"https://docshare.wps.com","Home","ListItem",{"item":42,"name":43,"@type":40,"position":44},"https://docshare.wps.com/document/","Document",2,{"item":46,"name":12,"@type":40,"position":47},"https://docshare.wps.com/document/research-report/",3,{"item":49,"name":13,"@type":40,"position":50},"https://docshare.wps.com/document/economic-modelling-105985/31935/",4,{"url":49,"name":13,"@type":52,"author":53,"headline":13,"publisher":55,"fileFormat":58,"description":14,"dateModified":59,"datePublished":59,"encodingFormat":58,"isAccessibleForFree":60,"interactionStatistic":61},"DigitalDocument",{"name":9,"@type":54},"Person",{"url":38,"name":56,"@type":57},"DocShare","Organization","application/pdf","2026-06-03",true,{"@type":62,"interactionType":63,"userInteractionCount":4},"InteractionCounter",{"@type":64},"ViewAction",{"@type":66,"mainEntity":67},"FAQPage",[68,74,78],{"name":69,"@type":70,"acceptedAnswer":71},"What is the main research question of the study?","Question",{"text":72,"@type":73},"How CSR disclosure affects asset price volatility in the Chinese capital market.","Answer",{"name":75,"@type":70,"acceptedAnswer":76},"Why might CSR disclosure reduce asset price volatility?",{"text":77,"@type":73},"By lowering information asymmetry between managers and investors, it helps investors forecast and reduces adverse selection among traders.",{"name":79,"@type":70,"acceptedAnswer":80},"How is the robustness of the findings assessed?",{"text":81,"@type":73},"The paper adds additional tests, including a difference-in-differences model that uses China’s mandatory CSR disclosure policy as an exogenous shock.","https://schema.org",{"og:url":49,"og:type":84,"og:title":13,"og:site_name":56,"og:description":14},"article",{"robots":86,"canonical":49},"index,follow",{"doc_id":7,"site_id":29}]