Recently, investors' growing awareness of environmental concerns has prompted many businesses to implement green policies and procedures. Investors' reactions to firms' environmental efforts vary across different industries. However, few empirical studies have addressed these differences,...

Using a unique workplace equality measure constructed from big data on online job postings, I show that investors tilt their holdings toward firms with better workplace equality profiles after the unexpected 2020 Black Lives Matter movement. Empirical evidence suggests that the effects are...

To examine whether investors value environmental sustainability, we analyze stock market reactions of the firms added to or deleted from the FTSE Environmental Opportunities 100 index (FTSE EO 100). Firms added to the FTSE EO 100 that were not previously in the FTSE EO and firms removed from the...

This study investigates whether and how investors value job information disclosure. Based on the sample of Japanese listed firms, we find that the abnormal returns around the job information announcement date are higher in firms that disclose more information in terms of employee welfare policy....