This study aims at empirically exploring the influence of sustainability practices on the finan cial performance of 116 listed Swedish companies in the year 2019. The research findings indicate a positive relationship between corporate sustainability and financial performance that is measured by...

Management scholars have sought to answer the question: is there a financial payoff for ad-dressing ecological and social issues? We move beyond this question and include a time com-ponent for corporate financial performance (CFP) and a firm’s innovativeness in order to ask: when does it pay?...

Following the financial crisis and recent recession, the center of gravity of global economic growth and competitiveness is shifting toward emerging economies. As a leading and increasingly influential emerging economy, China is currently attracting the attention of academics, practitioners, and...

The IPO process involves a large amount of information delivered to the public through different means. Information frictions may be what causes most of the underpricing. Socially conscious investors supposedly use the ESG criteria to check for potential investments. Thus, we argue that...

Environmental disasters are thought to increase the focus on corporate sustainability in the communities where they occur. Extracting data on wildfires (a frequent type of disaster in the U.S.) and using ESG ratings and EPA air enforcement actions to construct measures of local corporate...

Sustainable finance, as a distinct category of finance, entails the introduction of environmental, social and governance (ESG) considerations into financial decision-making. Previous work at the international level such as the UN Principles for Responsible Investment and the Global Compact...

ESG is the core concept in the field of green finance that has attracted much attention in recent years. Based on traditional financial indicators, ESG aims to integrate environmental, social, and governance factors. By examining the potential for long-term and sustainable value growth of the...

We propose a novel way of measuring the equity portfolio-level environmental and social characteristics of a 13F institution (the “sustainability footprint”) and examine the relation between sustainability footprints and risk-adjusted investment performance. The analysis shows that 13F...

We develop a theory of sustainability-driven stakeholder governance to study how stakeholders with pro-social preferences influence organizations' sustainability—their social outcomes. While stronger pro-social preferences render a stakeholder's project choice more sustainable and increase her...

Private investors are an increasingly important voice in sustainability challenges. We examine investors' attitudes and behavior towards sustainable investing through a survey of 5,030 Finnish private investors. We document that 60 percent of all respondents consider environmental, social, and...