Kim, Yongtae; Li, Haidan; Li, Siqi - In: Journal of Banking & Finance 43 (2014) C, pp. 1-13
This study investigates whether corporate social responsibility (CSR) mitigates or contributes to stock price crash risk. Crash risk, defined as the conditional skewness of return distribution, captures asymmetry in risk and is important for investment decisions and risk management. If socially...