We test the performance of two ESG score-driven quantitative signals on a large, multi-national crosssection of European stock returns. In particular, we ask whether in the cross-section, the cost of equity capital is more strongly affected by the (upward) “slope” (identified as momentum...

This paper investigates three consequences of the new financial regulation: the agency costs, the monitoring costs and the effect on banks' cost of capital. For the first, the shareholders' behaviour is analysed as a trade-off between the value of the bank and its volatility by using an...