Related references
Note: Only part of the references are listed.
Article
Business, Finance
Hao Li et al.
Summary: This study investigates the impact of environmental, social, and governance (ESG) practices of Chinese listed firms on their default risk. The findings show that higher ESG ratings help mitigate default risk, especially in situations where default risk is high. Additionally, the impact of ESG ratings on default risk is smaller for manufacturing firms compared to non-manufacturing firms. These findings suggest that credit markets accurately reflect the ESG practices of firms, and investors can enhance credit risk management by considering ESG performances.
FINANCE RESEARCH LETTERS
(2022)
Article
Business, Finance
Nawazish Mirza et al.
Summary: Islamic equity funds demonstrated stronger risk-adjusted performance and resilience during the COVID-19 pandemic, showing characteristics of safe haven assets. Investment styles shifted from riskier to more prudent options.
INTERNATIONAL REVIEW OF ECONOMICS & FINANCE
(2022)
Article
Business, Finance
Alfonso Mendoza-Velazquez et al.
Summary: This study examines the relationship between corporate governance and firm performance in hybrid model countries, finding a dynamic interdependence between the two. However, there is a weak effect of corporate governance adherence on firm performance. The adverse effect of agency conflicts and insider ownership may contribute to this weak association.
REVIEW OF ACCOUNTING AND FINANCE
(2022)
Article
Multidisciplinary Sciences
Syed Kumail Abbas Rizvi et al.
Summary: This paper assesses the impact of the COVID-19 pandemic on non-financial firms' valuations in the European Union using stress testing. The study finds significant losses in valuations across all sectors in response to possible reductions in sales and increases in equity costs, with some industries potentially losing up to 60% of their intrinsic value within one year.
Article
Business, Finance
Edouard Pineau et al.
Summary: This paper analyzes the importance of Environmental, Social and Governance (ESG) factors in sovereign credit ratings using a data-driven methodology. The study finds that the importance of ESG factors varies between advanced economies (AEs) and emerging market and developing economies (EMDEs), with governance being the most important factor for AEs and non-ESG factors driving the creditworthiness of EMDEs. Additionally, the relative importance of ESG factors changes over time, increasing for AEs and decreasing for EMDEs, especially after the 2008 financial crisis.
FINANCE RESEARCH LETTERS
(2022)
Article
Business, Finance
Richard Paul Gregory
Summary: I study the impact of ESG activities on Free Cash Flow to the Firm and Free Cash Flow to Equity. My findings show that ESG activities primarily benefit the cash flows to creditors of firms in developed markets. This effect is mainly driven by the excessive spending of firms on communicating their integration of economic, social, and environmental dimensions into their decision-making processes. Moreover, for developed market firms, excessive spending on workforce conditions also plays a role in boosting Free Cash Flow to the Firm.
GLOBAL FINANCE JOURNAL
(2022)
Article
Business, Finance
Maha Khemakhem Jardak et al.
Summary: This research empirically examines the effects of digital maturity on a firm's financial performance. The results indicate that digital maturity has a negative impact on return on assets and return on equity, but a positive impact on Tobin's Q. In the short term, firms undergoing digital transformation may face financial difficulties, but in the long term, they can maximize their performance and improve market value.
JOURNAL OF RISK FINANCE
(2022)
Article
Business, Finance
Seyed Reza Tabatabaei Poudeh et al.
Summary: This paper examines the relationship between components of idiosyncratic risk and expected stock returns by decomposing the variance of stock returns. The results show that volatility terms are negatively related to expected stock returns, and alpha risk has the most significant relationship with stock returns. Furthermore, the study finds that when volatility and covariance terms are excluded, the relation between idiosyncratic volatility and stock returns becomes weak or disappears.
JOURNAL OF RISK FINANCE
(2022)
Article
Business, Finance
Linda H. Chen et al.
Summary: This study investigates whether earnings risk is exacerbated in the fiscal year end quarters within the same firm, and explores solutions to mitigate this type of information risk. The findings show that there is significantly lower earnings response coefficient for fiscal year end quarters than for other quarters. Strong corporate governance and a streamlined financial reporting structure can help mitigate this type of information uncertainty.
REVIEW OF ACCOUNTING AND FINANCE
(2022)
Article
Business, Finance
Simona Galletta et al.
Summary: This study assesses the development of ESG in the banking industry through bibliometric analysis and reveals the research hotspots and trends. The results demonstrate a growing awareness of the importance of integrating ESG factors into banking strategies and processes.
RESEARCH IN INTERNATIONAL BUSINESS AND FINANCE
(2022)
Article
Business, Finance
Chen Gu et al.
Summary: Our study reveals that there is a correlation between institutional herding behavior and analyst target price revisions. Institutional investors tend to follow the same buying or selling patterns after target price revisions, which leads to mispricing in the stock market. This effect is particularly significant among investment firms.
INTERNATIONAL REVIEW OF FINANCIAL ANALYSIS
(2022)
Article
Business, Finance
Chun-Ju Chiu et al.
Summary: This study examines the interactive effects of financial constraints and managerial overconfidence on investment-cash flow sensitivity in Taiwan non-financial publicly traded firms. The findings suggest that both financial constraints and managerial overconfidence contribute to increased investment-cash flow sensitivity. Additionally, the study reveals that firms with managerial overconfidence are more likely to exhibit overinvestment when internal cash flow is sufficient, especially for financially constrained firms.
INTERNATIONAL REVIEW OF ECONOMICS & FINANCE
(2022)
Article
Business, Finance
Muhammad Arif Khan
Summary: This study synthesizes literature on ESG performance and its impact on performance through bibliometric analysis and meta-analysis. It presents three research streams and provides an overview of the field of sustainable finance. The results show that the link between ESG and firm financial performance is still uncertain and requires further research.
RESEARCH IN INTERNATIONAL BUSINESS AND FINANCE
(2022)
Article
Business, Finance
Wuyi Ye et al.
Summary: The authors analyze the risks associated with continuously rising and falling stock market returns, proposing a method to estimate risk using an improved model with an added exogenous variable. Empirical results suggest the proposed method is effective in estimating risks, with no significant change in the dependent structure identified.
JOURNAL OF RISK FINANCE
(2021)
Article
Environmental Sciences
Xiangfeng Ji et al.
Summary: The study reveals that green funds outperform other types of funds in terms of investment returns and market timing ability, both in the overall sample and within-country assessment. Chinese green funds exhibit the best performance, attributed to the ecologically friendly policies adopted by China over the years.
JOURNAL OF ENVIRONMENTAL MANAGEMENT
(2021)
Article
Business, Finance
Bushra Naqvi et al.
Summary: The popularity of green energy investments has increased in the last decade, but research shows that traditional energy funds outperform renewable funds in terms of financial performance. The performance of renewable funds declined during the Covid-19 pandemic, indicating additional investment challenges.
GLOBAL FINANCE JOURNAL
(2021)
Article
Business, Finance
Richard Watt et al.
Summary: The Arrow-Pratt approximation for the risk premium is only suitable for small risks. This paper introduces a new approximation based on risk-neutral probabilities, which is effective for both small and large risks. The new approximation proposed here is shown to be significantly superior to the Arrow-Pratt approximation for large risks, and may also provide better approximations for small risks.
JOURNAL OF RISK FINANCE
(2021)
Article
Business, Finance
Omar Farooq et al.
Summary: This paper documents the impact of dividend policies on the downside risk in stock prices in the MENA region, showing that firms with higher dividend payouts have significantly lower downside risk. The lower downside risk associated with high dividend-paying firms is due to lower agency problems, which in turn reduces the downside risk in stock prices.
JOURNAL OF RISK FINANCE
(2021)
Article
Business
Jing-Ping Li et al.
TECHNOLOGICAL FORECASTING AND SOCIAL CHANGE
(2020)
Article
Business, Finance
Grigoria Chlomou et al.
INTERNATIONAL REVIEW OF FINANCIAL ANALYSIS
(2020)
Article
Business, Finance
Jundong (Jeff) Wang
REVIEW OF ACCOUNTING AND FINANCE
(2020)
Article
Business, Finance
Hemant Kumar Badaye et al.
JOURNAL OF RISK FINANCE
(2020)
Article
Economics
Gabriel Di Bella et al.
JOURNAL OF MACROECONOMICS
(2019)
Article
Business, Finance
Yi Zhang et al.
REVIEW OF ACCOUNTING AND FINANCE
(2019)
Article
Business, Finance
Josef Schosser et al.
JOURNAL OF RISK FINANCE
(2019)
Article
Business, Finance
Yi Li et al.
INTERNATIONAL REVIEW OF FINANCIAL ANALYSIS
(2019)
Article
Business, Finance
Abdelmajid Hmaittane et al.
REVIEW OF ACCOUNTING AND FINANCE
(2019)
Article
Business, Finance
Joonho Lee et al.
REVIEW OF ACCOUNTING AND FINANCE
(2019)
Article
Business, Finance
Christian Fieberg et al.
JOURNAL OF RISK FINANCE
(2019)
Article
Business, Finance
Angela Andrews et al.
REVIEW OF ACCOUNTING AND FINANCE
(2018)
Article
Business, Finance
Rand Kwong Yew Low et al.
INTERNATIONAL REVIEW OF FINANCIAL ANALYSIS
(2016)
Article
Economics
Dayong Zhang et al.
Article
Business, Finance
Shahed Imam et al.
INTERNATIONAL REVIEW OF FINANCIAL ANALYSIS
(2013)
