Firms can disclose social information via different channels such as SEC filings, stand-alone sustainability reports, or financial reports. Based on the notion that investors interpret such disclosures from a risk perspective, we analyse how disclosure via each of the three channels relates to...

Framing the mobility crisis induced by COVID-19 restrictions as a natural experiment resembling future shocks related to the transition to a net zero economy, we use a difference in differences analysis to investigate the impact of Scope 3 emission reporting on share price returns for companies...

Impact investing aims to simultaneously deliver two objectives: (i) social and environmental benefits and (ii) financial returns for a desired investment risk level. This dual objective function differentiates impact investing from other forms of investing that integrate environmental, social or...

Risk proxies such as beta, volatility or standard deviation are conventionally measured assuming that investors have symmetric risk preferences, with upside and downside deviations from the expectation being equivalently undesirable. Responsible investors, however, have the dual aims of...

A growing group of investors claim to use divestment strategies to stop financing economic activities harmful for the climate or society. In this paper we test whether investors also use this strategy against ethically-reprehensible behaviours of banks, especially when these investors represent...