Resiliency of Environmental and Social Stocks: An Analysis of the Exogenous COVID-19 Market Crash

Clicks: 175
ID: 301030
2020
Free PDF
Article Quality & Performance Metrics
Overall Quality
Not rated
Combines reader engagement with the AI quality analysis. This article has not been analysed, so there is no overall score — reader engagement is measured and shown alongside.
AI Quality Assessment
Not analyzed
Readership in this journal
Popular

Ranked #1 of 13 articles by views in The Review of Corporate Finance Studies

Most read Least read

Bar heights use a square-root scale.

Mint this article as an NFT
Not yet minted

Create a permanent, verifiable on-chain record of this article on the Scimatic Network. The NFT is held in your Journament account, and you can withdraw it to your own wallet at any time.

5 SUSD one-off · no wallet required
Sign in to mint
Abstract
The COVID-19 pandemic and the subsequent lockdown brought about an exogenous and unparalleled stock market crash. The crisis thus provides a unique opportunity to test theories of environmental and social (ES) policies. This paper shows that stocks with higher ES ratings have significantly higher returns, lower return volatility, and higher operating profit margins during the first quarter of 2020. ES firms with higher advertising expenditures experience higher stock returns, and stocks held by more ES-oriented investors experience less return volatility during the crash. This paper highlights the importance of customer and investor loyalty to the resiliency of ES stocks.
Reference Key
openalex_W3021084400 Use this key to autocite in the manuscript while using SciMatic Manuscript Manager or Thesis Manager
Authors Rui Albuquerque, Yrjö Koskinen, Shuai Yang, Chendi Zhang
Journal The Review of Corporate Finance Studies
Year 2020
DOI
10.1093/rcfs/cfaa011
URL
https://academic.oup.com/rcfs/article-pdf/9/3/593/33880102/cfaa011.pdf
Keywords Keywords not found

Citations

No citations found. To add a citation, contact the admin at info@scimatic.org

Comments

No comments yet. Be the first to comment on this article.