We investigate the capital market reaction in response to the publication of the Sustainability Accounting Standards Board's (SASB) standards on the financial materiality of environmental, social, and governance (ESG) issues. Based on the argument that accounting mechanisms impact perceptions...

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...

We offer preliminary evidence drawing on a novel dataset of corporate bonds issued in the European energy sector since January 2020 in combination with the European Central Bank's (ECB) purchases under the Pandemic Emergency Purchase Programme (PEPP) in response to COVID-19. We show that the...

The rise of fake news has resulted in a wide discrepancy between the attention given to the scientific understanding of an issue versus misinformed and sometimes purposefully disinformed claims (false information that is purposely spread to deceive people) coming from outside the scientific...

Corporations often draw criticism and face demands from non-governmental organisations (NGOs); some typical examples of controversial issues concerned by NGOs include climate change, pollution, fracking, GMOs in food, animal welfare, supply chain issues and labour standards. The most pressing...

This study empirically investigates the relationship between banks' green lending and their credit risk, and how Chinese green finance regulations contribute to the solvency of individual banks and the resilience of the financial system as a whole. Using a sample of 41 Chinese banks for the...

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...

This paper explores if environmental social and governance (ESG) expertise matter for fixed income investments. This investigation is conducted by manually collecting fund and firm characteristics directly from the fund management companies and analysing the performance of a global sample of 108...

Analysing the financial performance of Islamic equity indices from all relevant providers, we document these indices to outperform their conventional benchmarks on a global and developed market level after controlling for investment styles and a potential back-testing bias. To explain this...