This paper examines how major efficiency gains and improved effectiveness were simultaneously achieved at the Reserve Bank of New Zealand over a five-year period. It identifies the business management concepts that were used to transform the organization, outlines how they were applied, and...

The recent financial crisis has triggered an intense debate about the role of banks in society, presumably changing the criteria used in the evaluation of organizations. Against this backdrop, we investigate the changing role of banks' organizational features in shaping different dimensions of...

We examine whether and how lending banks around the world respond to borrowers' carbon emissions – the major contributors to global warming – in their lending decisions. We find that banks charge a higher loan spread and apply stricter non-price terms to borrowing firms with larger direct...

The purpose of this paper is to assess and promote safe and sound banking systems, including the policy, legal and regulatory framework which affects developing countries' banking systems, especially in terms of the range of institutions and products available, their financial performance and...

The growing importance of SRI in the investment arena has resulted in considerable academic interest in the performance of socially responsible equity mutual funds. Remarkably, no attempts have been made to evaluate the performance of mutual funds that invest in socially responsible fixed-income...

This study examines the impact of reputational risk, measured by corporate social irresponsibility (CSI) ratings, on shareholder abnormal returns. Based on 7,368 non-financial companies from 42 countries during 2007-2017, we find that long-short portfolios (buying no reputation risk and selling...

Global awareness of the urgent need to decarbonize the economy has been growing. Although legislative and regulatory actions have been lagging, some businesses have emerged as leaders in this process. In particular, financial institutions as information producers and resource allocators play an...

Focusing on a key CEO characteristic, materialism, we investigate how the prevalence of materialistic CEOs in the banking sector has evolved over time, and how risk management policies, the behavior of non-CEO executives and bank tail risk vary with CEO materialism. We document that the...

The seeds for the 2007-09 financial collapse were sewn over many years and nurtured by ill-advised governmental housing policy, the presence of pervasive fraud both large and small and the widespread failure of personal integrity. A chronology of bad choices made by individuals and the...

Corporate Social Responsibility (CSR) and crowdfunding are two concepts that have been affected through digitalization. Crowdfunding has emerged as an alternative form of financing that collects funds from the ‘crowd' and channel them into various social causes or business projects. It...