Earthquake Risk on Corporate Social Performance

This paper adds to the growing body of work by investigating the impact of natural disasters on corporate social performance (CSP). Using a sample of 21,245 firm-year observations from 3,150 unique firms during the period of 2010-2019, we provide evidence on the causal effect of earthquake risk on firm CSP. Our findings suggest that earthquake risk has a positive effect on firm CSP. Specifically, firms located closer to the earthquake zone have higher CSP scores. Additionally, state-owned status and institutional ownership have positive moderating effects on the main relationship