This paper establishes a rigorous framework for sentiment analysis applications in finance. First, we present a thorough review of the latest academic literature, including both methodological advancements and findings. Second, we categorise and analyse the different sentiment analysis...

Risk proxies such as beta, volatility or standard deviation are conventionally measured assuming that investors have symmetric risk preferences, with upside and downside deviations from the expectation being equivalently undesirable. Responsible investors, however, have the dual aims of...

The ongoing Voice versus Exit debate, which tries to find the most effective way for an investor to influence firm behaviour, for the vast majority of published research focuses on existing equity shareholders. This neglects debt capital, which due to its refinancing cycle represents a key lever...

A growing group of investors claim to use divestment strategies to stop financing economic activities harmful for the climate or society. In this paper we test whether investors also use this strategy against ethically-reprehensible behaviours of banks, especially when these investors represent...

In this paper, we study shareholder views on corporate political contributions. We find that, with shareholders’ explicit approval, firms are more likely to have higher corporate political contribution, measured by the amount of donations to the US political parties in the next election cycle....

In their pioneering work, Hong & Kacperczyk [HK] (2009) document a significant outperformance of so- called sin stocks: publicly traded companies involved in producing alcohol, tobacco and gaming. Drawing on theories of neglected stocks and segmented markets, the authors suggest this...