This study analyzes the effect that banks' investments in corporate social responsibility (CSR) have on bank … performance. I find that banks' investments in CSR have a positive impact on financial performance, measured in terms of both … accounting performance and stock market value. However, not all CSR investments are the same. I distinguish between internal CSR …

Sustainability risks represent a significant concern for the banking industry. Consequently, financial regulators … sector sustainability guidelines and regulations on the banking industry. We use the Z-Score to measure the financial … created financial sector sustainability guidelines and regulations. However, the effect of these policies on banks' financial …

This study investigates whether corporate social responsibility (CSR) mitigates or contributes to stock price crash … engage in less bad news hoarding, they would have lower crash risk. However, if managers engage in CSR to cover up bad news … and divert shareholder scrutiny, CSR would be associated with higher crash risk. Our findings support the mitigating …

research. The impact of the breadth of ESG disclosure on crash risk is concentrated on firms with lower sustainability …

We exploit the Great Recession of 2008 to study how firms view corporate social responsibility (CSR). When confronted … do not lessen their overall CSR investments, suggesting that they recognize the importance of CSR. However, further … analysis shows that firms substantially reduce investments in five CSR activities (Community, Employee, Environment, Human …

We explore the effect of board independence on CSR investments during a stressful time, i.e. during the Great Recession …. Our results show that independent directors exhibit an unfavorable view of CSR investments during the crisis. Stronger … board independence leads to a significant reduction in CSR. In particular, a rise in board independence by one standard …

banks (e.g. ethical, social or sustainable banking) experienced a recent increase in media interest and have been hailed as …

banks (e.g. ethical, social or sustainable banking) experienced a recent increase in media interest and have been hailed as …