Corporate social responsibility and bank liquidity creation during financial crises
研究美国银行样本发现，企业社会责任表现好的银行在金融危机期间会减少更多流动性创造，以避免财务困境伤害员工和社区。
Abstract Using a sample of US banks, this paper investigates how corporate social responsibility (CSR) performance affects bank liquidity creation in financial crises. It shows that banks with better CSR performance reduce more liquidity creation in crises. This effect is stronger for banks with lower Z ‐scores or higher earnings volatility. In addition, the results are driven by bank CSR performance related to community, employee relations and diversity. These results are consistent with the notion that banks with good CSR performance reduce liquidity creation to avoid financial distress, which would hurt their employees and the communities they serve.