This study investigates the growing importance of sustainability in financial markets by estimating the extent of capitalisation of companies' commitment to sustainability on their market value. The spreading concern for social and environmental issues, and especially for the material risks of...

Recently, there has been a growing focus on sustainability issues within the financial sector. However, quantitative analysis of social and governance aspects has been challenging due to difficulties in data modelling. With the recent regulatory updates for standardised disclosure, the next step...

A stable net external position requires that the trade balance responds negatively to changes in the net external position. If financial integration makes financing external imbalances less costly, we expect slower external adjustment in more integrated economies. The study estimates...