Environmental reputational risk, negative media attention and financial performance

Q1 Economics, Econometrics and Finance Financial Markets, Institutions and Instruments Pub Date : 2022-07-07 DOI:10.1111/fmii.12163

Leonardo Becchetti, Rocco Ciciretti, Iftekhar Hasan, Gabriele La Licata

引用次数: 1

Abstract

Tracing negative media attention, this paper investigates the effect of reputational risk on firm value. Decomposing reputational damage into environmental, social and corporate-governance dimensions, it reports that environmental reputational risk has the most significant negative effect on price earnings, i.e., firms exposed to environmental risk are likely to be priced at a discount or charged a higher risk premium when discounting future earnings.

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环境声誉风险、负面媒体关注和财务业绩

本文以负面媒体关注为线索，探讨声誉风险对企业价值的影响。将声誉损害分解为环境、社会和公司治理三个维度，报告称环境声誉风险对价格收益的负面影响最为显著，即，在贴现未来收益时，面临环境风险的公司可能会被折价定价或收取更高的风险溢价。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Financial Markets, Institutions and Instruments Economics, Econometrics and Finance-Economics, Econometrics and Finance (all)

CiteScore

1.80

自引率

0.00%

发文量

期刊介绍： Financial Markets, Institutions and Instruments bridges the gap between the academic and professional finance communities. With contributions from leading academics, as well as practitioners from organizations such as the SEC and the Federal Reserve, the journal is equally relevant to both groups. Each issue is devoted to a single topic, which is examined in depth, and a special fifth issue is published annually highlighting the most significant developments in money and banking, derivative securities, corporate finance, and fixed-income securities.

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