This study provides evidence for the differential impacts of corporate social responsibility (CSR) initiatives targeting different stakeholder groups on stock price crash risk. In particular, it highlights CSR's role in mitigating risk and creating shareholder value. Our results reveal that...

This research explores the effects that media coverage of corporate social responsibility (CSR) news related to investor, customer, employee and community issues has on the market value of Spanish banks, measured as the impact generated in abnormal returns for these companies. We use an event...