Investigating the Relationship between the Prevalence of Quid 19 and the Stock Price Crash Risk with Emphasis on the Role of Corporate Social Responsibility in the Tehran Stock Exchange

Stock Price Crash Risk is a phenomenon in which stock prices undergo a sharp and negative sharp adjustment. On the other hand, if a company with a high social responsibility culture adheres to the same high level of ethical standards in financial reporting, it will face a higher level of transparency and a lower level of bad news accumulation, so such companies are expected to risk falling stock prices. Decrease. also, in the context of the COVID-19 epidemic, the impact of this disease on socially responsible companies and the risk of falling stock prices has not been determined. Therefore, this study examines the relationship between the prevalence of COVID-19 and the risk of Stock Price Crash Risk with emphasis on the role of social responsibility in the Tehran Stock Exchange during the period 2015 to 2021 using the information of 130 selected companies. The results showed that social responsibility has a negative and significant effect on the risk of falling stock prices. The results also showed that with the increase and epidemic of COVID-19 disease, the risk of falling stock prices has increased. In such a situation, the managers try to keep the negative news of the company, which is caused by the imposed conditions of Corona, as secret as possible, and thus the outbreak of Covid 19 disease leads to an increased risk of falling stock prices. The effect of social responsibility on the risk of falling stock prices before and after the outbreak of COVID-19 was significantly different.