Purpose: The purpose of this paper is to shed some light on the effect of the current financial crisis on corporate social responsibility (CSR) reporting and CSR assurance strategies that companies disclose online to stakeholders, by dividing the time horizon into two periods, before 2008 and...

This article reconsiders the debate over the role of corporate social responsibility as a governance tool to monitor the behavior of management in financial firms that have been identified by the federal government as “too big to fail.” Financial institutions deemed critical to the economy...

Compared to conventional mutual funds, socially responsible mutual funds outperform during periods of market crisis. This dampening of downside risk comes at the cost of under performing during non-crisis periods. Investors with Prospect Theory utility functions would value the skewness of these...

How do changes in Environmental, Social and Governance (ESG) scores influence banks’ systemic risk contribution? We document a beneficial impact of the ESG Combined Score and Governance pillar on banks’ contribution to system-wide distress analysing a panel of 367 publicly listed banks from...