Firms and social responsibility: A review of ESG and CSR research in corporate finance

SL Gillan, A Koch, LT Starks - Journal of Corporate Finance, 2021 - Elsevier
We review the financial economics-based research on Environmental, Social, and
Governance (ESG) and Corporate Social Responsibility (CSR) with an emphasis on …

Presidential Address: Sustainable Finance and ESG Issues—Value versus Values

LT Starks - The Journal of Finance, 2023 - Wiley Online Library
In this address, I discuss differences across investor and manager motivations for
considering sustainable finance—value versus values motivations—and how these …

How does ESG disclosure improve stock liquidity for enterprises—empirical evidence from China

C Meng-tao, Y Da-peng, Z Wei-qi, W Qi-jun - … Impact Assessment Review, 2023 - Elsevier
This research explores the impact of environmental, social, and governance (ESG)
performance on capital market performance in terms of stock liquidity. We establish that …

Sustainable finance: ESG/CSR, firm value, and investment returns

X Chang, K Fu, Y Jin, PF Liem - Asia‐Pacific Journal of …, 2022 - Wiley Online Library
We review the burgeoning sustainable finance literature, emphasizing the value implications
of ESG (environmental, social, and governance) and CSR (corporate social responsibility) …

ESG preference, institutional trading, and stock return patterns

J Cao, S Titman, X Zhan, W Zhang - Journal of financial and …, 2023 - cambridge.org
Socially responsible (SR) institutions tend to focus more on the environmental, social, and
governance (ESG) performance and less on quantitative signals of value. Consistent with …

Panic selling when disaster strikes: Evidence in the bond and stock markets

TD Huynh, Y Xia - Management Science, 2023 - pubsonline.informs.org
This study uses disaggregated establishment-level data to identify a firm's exposure to
physical climate risk and examines investors' reaction to natural disasters in both the US …

Green tilts

L Pastor, RF Stambaugh, LA Taylor - 2023 - nber.org
We estimate nancial institutions' portfolio tilts that relate to stocks' environmental, social, and
governance (ESG) characteristics. In 2021, ESG-related tilts total 6% of the investment …

Impact of executive pay gap on environmental, social, and governance disclosure in China: Is there a strategic choice?

D Zhang, L Pan, L Liu, H Zeng - … Social Responsibility and …, 2023 - Wiley Online Library
This study investigates the mechanisms through which the executive pay gap affects the
disclosure of environmental, social, and governance (ESG) information. Utilizing panel data …

[HTML][HTML] Sustainable finance literacy and the determinants of sustainable investing

M Filippini, M Leippold, T Wekhof - Journal of Banking & Finance, 2024 - Elsevier
In this paper, we survey a large sample of Swiss households to measure sustainable finance
literacy, which we define as the knowledge and skill of identifying and assessing financial …

Investor rewards to climate responsibility: Stock-price responses to the opposite shocks of the 2016 and 2020 US elections

S Ramelli, AF Wagner, RJ Zeckhauser… - The Review of …, 2021 - academic.oup.com
Donald Trump's 2016 election and his nomination of climate skeptic Scott Pruitt to head the
Environmental Protection Agency drastically downshifted expectations about US policy …