Presentation of Social Responsibility Reports and the Stock Price Crash Risk

We identify and extract information presentation forms such as charts and graphs based on computer image recognition technology, and explore the relationship between the presentation forms of CSR reports and the stock price crash risk. It is found that the higher the proportion of image area and richer the color of CSR reports, the higher the future stock price crash risk. Corporate value pressures and factor market pressures moderate this relationship positively, while peer-to-peer disclosure imitation pressures influence the use of CSR report presentation, but not the relationship between subsequent presentation and stock price crash risk