ESG

Is Ethical Money Financially Smart?

Do Investors Value Sustainability? A Natural Experiment Examining Ranking and Fund Flows

Examining a shock to the salience of the sustainability of the US mutual fund market, we present causal evidence that investors marketwide value...

Low Carbon Mutual Funds

Climate change poses new challenges for portfolio management. Investors face a trade-off between minimizing climate risk exposure and maximizing the...

Minimizing Costs, Maximizing Sustainability

Do strong incentives to cut costs lead firms to neglect negative externalities? We find that costcutting incentives can be environmentally friendly....

Corporate Purpose: Theoretical and Empirical Foundations/Confusions

Does it matter if corporate leaders pursue a broader, social corporate purpose rather than a narrow, shareholder-centric one, and can legal and...

Do Employees Have Useful Information About Firms’ ESG Practices?

This paper investigates whether employees have useful information for assessing firms’ environmental, social, and governance (ESG) practices. I...

The Dialogue Between Corporations and Institutional Investors: An Introduction

This introductory chapter provides the reader with some figures about institutional investors’ role in the governance of listed companies in the US...

On the Foundations of Corporate Social Responsibility

A firm's corporate social responsibility (CSR) practice and its country's legal origin are strongly correlated. This relation is valid for various CSR...

The relationship between public listing, context, multi-nationality and internal CSR

Are MNEs more socially responsible, and where is this more likely to occur? Are rms less responsible in emerging or transitional economies, and what...

Does Board Gender Diversity Affect Renewable Energy Consumption?

This paper examines the effect of board gender diversity on renewable energy consumption. Using a panel of 11,677 firm-year observations from the USA...

Should Corporations Have a Purpose?

Corporate purpose is the hot topic in corporate governance. Critics are calling for corporations to shift their purpose away from shareholder value as a...

Is History Repeating Itself? The (Un)predictable Past of ESG Ratings

The explosion in ESG research has led to a strong reliance on ESG rating providers. We document widespread changes to the historical ratings of a key...