Leyla Yusifzada , Igor Lončarski , Gergely Czupy , Helena Naffa
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引用次数: 0
Abstract
Our analysis explores the trade-off between environmental and social factors, as we observe that the environmental and social performances of firms are negatively correlated across industries. We find that, from 2013 to 2022, firms with high environmental scores but low social scores outperformed those with low environmental scores but high social scores by an average of 0.39% per month. However, this outperformance diminished when the investment horizon began in 2016. We find that in the period following 2016, public markets began to signal an equal importance for both environmental and social pillars. Therefore, policy frameworks should aim to balance both environmental and social objectives to address the disparities created by regulations that favour one aspect of sustainability over the other.
期刊介绍：
Research in International Business and Finance (RIBAF) seeks to consolidate its position as a premier scholarly vehicle of academic finance. The Journal publishes high quality, insightful, well-written papers that explore current and new issues in international finance. Papers that foster dialogue, innovation, and intellectual risk-taking in financial studies; as well as shed light on the interaction between finance and broader societal concerns are particularly appreciated. The Journal welcomes submissions that seek to expand the boundaries of academic finance and otherwise challenge the discipline. Papers studying finance using a variety of methodologies; as well as interdisciplinary studies will be considered for publication. Papers that examine topical issues using extensive international data sets are welcome. Single-country studies can also be considered for publication provided that they develop novel methodological and theoretical approaches or fall within the Journal''s priority themes. It is especially important that single-country studies communicate to the reader why the particular chosen country is especially relevant to the issue being investigated. [...] The scope of topics that are most interesting to RIBAF readers include the following: -Financial markets and institutions -Financial practices and sustainability -The impact of national culture on finance -The impact of formal and informal institutions on finance -Privatizations, public financing, and nonprofit issues in finance -Interdisciplinary financial studies -Finance and international development -International financial crises and regulation -Financialization studies -International financial integration and architecture -Behavioral aspects in finance -Consumer finance -Methodologies and conceptualization issues related to finance
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