| Types of variables | Names of variables | Explanation |
| Dependent variable | NCSKEWi,t+1 | The measurement of stock price crash risk |
| Explanatory variable | CSRi,t | The scores of corporate social responsibility released by Hexun.com |
| CSRi,t * CSC | With social capital: CSC = 1; Without social capital: CSC = 0 | |
| Control variable | NCSKEWi,t | Negative return skew coefficient for one lag |
| SIZEi,t | Natural logarithm of total assets | |
| LEVi,t | Ratio of total debt to total assets | |
| ROEi,t | Ratio of net profit to net assets | |
| DTURNi,t | The difference between the average monthly turnover rate of stocks in year t and year t-1 | |
| RETi,t | Mean value of weekly specific yield of stocks in year t | |
| MBi,t | Ratio of share price to book value per share | |
| SIGMAi,t | Standard deviation of weekly specific yield of stocks in year t | |
| INSTIi,t | Shareholding rate of institutional investor | |
| FIRi,t | Shareholding rate of the largest shareholder | |
| OPAQUEi,t | Mean value of manipulable accrual profit in the past three year | |
| YEAR | Annual dummy variable | |
| IND | Industrial dummy variable |