STUDY THE RELATIONSHIP BETWEEN ENVIRONMENTAL RISKS AND SOCIAL RESPONSIBILITY AND THEIR EFFECTS ON THE STOCK PRICES OF EGYPTIAN INDUSTRIAL COMPANIES: AN APPLIED STUDY

This study examines the impact of both the internal and external environmental risks of the Egyptian industrial companies on the prices of their shares on the stock exchange, in addition to studying the impact of corporate social responsibility on the prices of its shares through application to a sample of Egyptian industrial companies in the industrial sector. The study discussed the internal risks faced by industrial companies represented by their financial risks such as exchange rate liberalization, credit risk, liquidity risk, foreign exchange risk. As well as other internal risks such as occupational health and safety, strikes and labor class demonstrations. The study also discussed external risks such as unemployment, inflation, high prices of raw materials, oil and natural gas, or scarcity of raw materials, in addition to the impact of the companies' commitment to their social responsibility towards the environment and the society and its reflection on the prices of the shares of these companies in the Egyptian Stock Exchange. The objectives of the study are to study and present the quality of environmental risks in the industrial society to determine the nature of social responsibility and its relation to environmental risks, to verify the impact of the relationship between risks and to reflect social responsibility on the prices of shares of companies polluting the environment. In order to achieve the objectives of the study was used descriptive method descriptive in the study and deductive to ascertain the hypotheses of the study.
The study has reached the following results: The prices of shares of industrial companies are affected by their environmental risks, showing the impact of the prices of shares of industrial companies to the degree of their social responsibility. The results also indicate the impact of the prices of shares of industrial companies on both environmental risks and social responsibility. The most important recommendations of the researchers are: the need for coordination between the industrial companies and the Ministry of Environmental Affairs to identify the environmental risks resulting from industrial processes and activities and their environmental damage, in addition to their damage to humans and other living organisms, Cooperation among agencies and ministries to raise awareness about the role of social responsibility in industrial companies and its positive impact on the environment and society, which is reflected in turn to improve its positive image and enhance its position in the community, which works to attract and retain investors, Holding conferences and seminars by inviting industrial companies to identify the most important companies that take into account the environmental dimension in their activities as well as their social responsibility and social honor locally and internationally, which increases the competition among companies towards commitment to the environmental and social role in the overall work.