This paper examines the impact of social trust on stock price crash risk. Social trust measures the level of mutual trust among the members of a society. Using a large sample of Chinese listed ﬁrms for the 2001–2015 period, we ﬁnd that ﬁrms headquartered in regions of high social trust tend to have smaller crash risks. This result is robust to a battery of sensitivity tests and is more prominent for State-Owned Enterprises (SOEs), for ﬁrms with weak monitoring, and for ﬁrms with higher risk-taking. Moreover, we observe that ﬁrms in regions of high social trust are associated with higher accounting conservatism and fewer ﬁnancial restatements. Our study suggests that social trust is an important variable that is omitted in the literature investigating the predictors of stock price crashes.