The European Union (EU) has redefined the energy sphere in Europe over the last three decades. Transnational policies targeting liberalization and integration, energy efficiency, renewables, carbon pricing, and energy security have led to major steps forward in terms of a more secure,...

The European Union (EU) has redefined the energy sphere in Europe over the last three decades. Transnational policies targeting liberalization and integration, energy efficiency, renewables, carbon pricing, and energy security have led to major steps forward in terms of a more secure,...

This paper re-examines the size of penalties following securities class actions and the impact of lobbying on the time it takes to detect managerial misconduct. Managers of lobbying firms are able to get away with misconduct for longer and are marginally less likely to have to settle a class...

Prior research has found securities class actions result in management making improvements within the firm, which helps to reduce agency problems. However, little evidence exists as to whether these changes are beneficial to the firm. We examine the effect securities class actions have on...

We examine banks’ exposure to climate transition risk using a bottom-up, loan-level methodology incorporating climate stress test based on the Merton probability of default model and transition pathways from the IPCC. Specifically, we match machine learning predictions of corporate carbon...

Purpose The purpose of this paper is to examine how the filing of a securities class action, and associated corrective actions taken by management, impact the operating performance of sued firms. Design/methodology/approach A matched sample is formed three years prior to the filing of a class...

We present a modelling approach for sector asset pricing studies that incorporates sector-level risk factors, subgroup portfolios, and structural breakpoint tests that are better at isolating the time-varying nature and the firm-specific component of returns. Our results show considerable...