Amri and Davydov (2013)

Amri, Khalid, and Yevgeniy Davydov.  “Does Corporate Social Responsibility Provide Insurance for Operational Risk?”  Working paper (Fox School of Business, Temple University), 2013.

From the authors' abstract:  "We find that firms with stronger CSR profiles experience fewer operational risk events, and they incur lower operational losses. Our results suggest that CSR can be used as a risk management tool to protect the firm from certain negative events."

LK comment:  Used KLD Stats for CSR profile.