Academic Network
Collaborate across the Act Analytics Academic Network. Share ideas with other research students and academics. Ask Questions. Connect with other ESG leaders.
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- Amel-Zadeh, A.; Serafeim, G. “Why and How Investors Use ESG Information: Evidence from a Global Survey.”
- Amel-Zadeh, Amir and Lustermans, Rik and Pieterse-Bloem, Mary. “Sustainability and Private Wealth Investment Flows” (February 24, 2021).
- Atz, U., Van Holt, T., Douglas, E., & Whelan, T. (2019). “The Return on Sustainability Investment (ROSI): Monetizing Financial Benefits of Sustainability Actions in Companies.” Review of Business, 39(2).
- Atz, Ulrich and Van Holt, Tracy and Liu, Zongyuan Zoe and Bruno, Christopher. “Do Corporate Sustainability and Sustainable Finance Generate Better Financial Performance?”
- Barko, Tamas and Cremers, K. J. Martijn and Renneboog, Luc. “Shareholder Engagement on Environmental, Social, and Governance Performance.” Finance Working Paper N° 509/2017 July 2021.
- Bauer, Rob and Ruof, Tobias and Smeets, Paul. “Get Real! Individuals Prefer More Sustainable Investments” (February 21, 2019).
- Berg, F., Koelbel, J.F. and Rigobon, R., 2019. “Aggregate Confusion: The Divergence of ESG Ratings”. Working paper.
- BlackRock, “Sustainability: The future of investing”.
- BlackRock, “Sustainable investing: resilience amid uncertainty”
- Boze, B.; Krivitski, M.; Larcker, D.F.; Tayan, B.; Zlotnicka, E. “The Business Case for ESG.”
- Cao, J.; Titman, S.; Zhan, X.; Zhang, W.E. “ESG Preference, Institutional Trading, and Stock Return Patterns.”
- Capelle-Blancard, Gunther, and Aurélien Petit. “Every little helps? ESG news and stock market reaction.” Journal of Business Ethics 157, no. 2 (2019): 543-565.
- Ceccarelli, Marco & Ramelli, Stefano & Wagner, Alexander F, 2021. “When investors call for climate responsibility, how do mutual funds respond?,” Finance Working Paper N° 659/2020.
- Chatterjee, S. (2018). “Fund Characteristics and Performances of Socially Responsible Mutual Funds: Do ESG Ratings Play a Role?”
- Chatterji, Aaron K., Rodolphe Durand, David I. Levine, and Samuel Touboul. “Do ratings of firms converge? Implications for managers, investors and strategy researchers.” Strategic Management Journal 37, no. 8 (2016): 1597-1614.
- Cheng, Ing-Haw, Harrison G. Hong, and Kelly Shue. “Do managers do good with other peoples' money?” In AFA 2013 San Diego Meetings Paper, pp. 12-47. 2016.
- Ciciretti, R.; Dalò, A.; Dam, L. “The Contributions of Betas versus Characteristics to the ESG Premium.”
- Clark, C., & Lalit, H. (2020). “ESG Improvers: An Alpha Enhancing Factor. Rockefeller Capital Management.”
- Cochran, Philip L., and Robert A. Wood. “Corporate social responsibility and financial performance.” Academy of Management Journal 27, no. 1 (1984): 42-56.
- Cui, B.; Docherty, P. “Stock Price Overreaction to ESG Controversies.”
- Das, N., Chatterje, S., Ruf, B., & Sunder, A. (2018). “ESG Ratings and the Performance of Socially Responsible Mutual Funds: A Panel Study.”
- De Angelis, Tiziano and Tankov, Peter and Zerbib, Olivier David. “Climate Impact Investing” (June 25, 2021).
- Dhaliwal, Dan S., Oliver Zhen Li, Albert Tsang, and Yong George Yang. “Voluntary nonfinancial disclosure and the cost of equity capital: The initiation of corporate social responsibility reporting.” The Accounting Review 86, no. 1 (2011): 59-100.
- Dorfleitner, G.; Halbritter, G.; Nguyen, G. “Measuring the level and risk of corporate responsibility. An empirical comparison of different ESG rating approaches.”
- Douglas, E., Van Holt, T., & Whelan, T. (2017). “Responsible Investing: Guide to ESG Data Providers and Relevant Trends.”
- Duc Cuong Pham, Thi Ngoc Anh Do, Thanh Nga Doan, Thi Xuan HongNguyen & Thi Kim Yen Pham. “The impact of sustainability practices on financial performance: empirical evidence from Sweden” 2021.
- Eccles, R. G., & Stroehle, J. C. (2018). “Exploring social origins in the construction of ESG measures.” Available at SSRN 3212685.
- Eccles, Robert G., and Svetlana Klimenko. “Shareholders Are Getting Serious About Sustainability.” Harvard Business Review, 24 Nov. 2020
- Erhardt, J. “The Search for ESG Alpha by Means of Machine Learning—A Methodological Approach.”
- Escrig-Olmedo, E.; Fernández-Izquierdo, M.Á.; Ferrero-Ferrero, I.; Rivera-Lirio, J.M.; Muñoz-Torres, M.J. “Rating the Raters: Evaluating how ESG Rating Agencies Integrate Sustainability Principles.”
- Evans, J.R.; Peiris, D. “The Relationship between Environmental Social Governance Factors and Stock Returns.”
- Financial Times, “Coronavirus is strengthening the hand of ESG investors.”
- Flammer, Caroline. “Corporate social responsibility and shareholder reaction: The environmental awareness of investors.” Academy of Management Journal 56, no. 3 (2013): 758-781.
- Gary, S.N. “Best Interests in the Long Term: Fiduciary Duties and ESG Integration.”
- Gary, S.N. “Values and Value: University Endowments, Fiduciary Duties, and ESG Investing.”
- Gibson, Rajna and Krueger, Philipp and Mitali, Shema. “The Sustainability Footprint of Institutional Investors: ESG Driven Price Pressure and Performance” (September 7, 2020).
- Giese, G.; Nagy, Z. “How Markets price ESG? Have Changes in ESG Scores Affected Stock Prices?”
- Glossner, Simon. “ESG Incidents and Shareholder Value” (February 17, 2021).
- Grewal, Jody, Edward J. Riedl, and George Serafeim. “Market reaction to mandatory nonfinancial disclosure.” Management Science (2019).
- Griffin, Paul A., and Yuan Sun. “Going green: Market reaction to CSRwire news releases.” Journal of Accounting and Public Policy 32, no. 2 (2013): 93-113.
- Gunnar Friede, Timo Busch & Alexander Bassen. “ESG and financial performance: aggregated evidence from more than 2000 empirical studies” 2015
- Gutsche, Gunnar; Wetzel, Heike; Ziegler, Andreas. “Determinants of individual sustainable investment behavior - A framed field experiment,” MAGKS Joint Discussion Paper Series in Economics, No. 33-2020.
- Hartzmark, Samuel M. and Sussman, Abigail B. “Do Investors Value Sustainability? A Natural Experiment Examining Ranking and Fund Flows” (March 25, 2019).
- Hoepner, Andreas G. F. and Oikonomou, Ioannis and Sautner, Zacharias and Starks, Laura T. and Zhou, Xiaoyan. “ESG Shareholder Engagement and Downside Risk” (April 30, 2021).
- Hübel, B., & Scholz, H. (2020). “Integrating sustainability risks in asset management: The role of ESG exposures and ESG ratings.”
- Hübel, B.; Scholz, H.; Webersinke, N. “Performance of S&P 500 ESG Indices: The Impact of Weighting Methodologies and ESG Ratings”.
- Ioannou, Ioannis, and George Serafeim. “The impact of corporate social responsibility on investment recommendations: Analysts' perceptions and shifting institutional logics.” Strategic Management Journal 36, no. 7 (2015): 1053-1081.
- Khan, M. “Corporate Governance, ESG, and Stock Returns around the World.”
- Khan, M., G. Serafeim and A. Yoon. (2015). “Corporate Sustainability: First Evidence on Materiality.”
- Kim, Soohun and Yoon, Aaron. “Analyzing Active Managers' Commitment to ESG: Evidence from United Nations Principles for Responsible Investment” (March 17, 2020).
- Kim, Yongtae, Haidan Li, and Siqi Li. “Corporate social responsibility and stock price crash risk.” Journal of Banking & Finance 43 (2014): 1-13.
- Klassen, Robert D., and Curtis P. McLaughlin. “The impact of environmental management on firm performance.” Management Science 42, no. 8 (1996): 1199-1214.
- Kotsantonis, S., Rehnberg, C., Serafeim, G., Ward, B., & Tomlinson, B. (2019). “The Economic Significance of Long-Term Plans.”
- Krüger, Philipp. “Corporate goodness and shareholder wealth.” Journal of Financial Economics 115, no. 2 (2015): 304-329.
- Laermann, M. “The Significance of ESG Ratings for Socially Responsible Investment Decisions: An Examination from a Market Perspective.”
- Latino, Carmelo; Pelizzon, Loriana; Rzeźnik, Aleksandra (2021). “The power of ESG ratings on stock markets.” SAFE Working Paper, No. 310.
- Martin, M. “Making Impact Investible” Impact Economy.
- Morningstar, “Sustainable Funds Continue to Rake in Assets During the Second Quarter.”
- Morningstar, “Sustainable Stock Funds Held Their Own in Second-Quarter Rally.”
- Nagy, Z., A. Kassam and L. Lee. (2016). “Can ESG Add Alpha? An Analysis of ESG Tilt and Momentum Strategies.”
- Nagy, Z.; Cogan, D.; Sinnreich, D. “Optimizing Environmental, Social and Governance Factors in Portfolio Construction: Analysis of Three ESG-Tilted Strategies.”
- Naughton, James P., Clare Wang, and Ira Yeung. “Investor Sentiment for Corporate Social Performance.” The Accounting Review (2019).
- Nisar Ahmad, Asma Mobarek & Naheed Nawazesh Roni. “Revisiting the impact of ESG on financial performance of FTSE350 UK firms: Static and dynamic panel data analysis” 2021
- Philipp Bien, Saad Iqbal, Amy Li, Ian Stecher, Rob Manger. “Comparing Environmental, Social, andGovernance Ratings Across Stock Exchanges”
- Rajna Gibson & Simon Glossner & Philipp Krueger & Pedro Matos & Tom Steffen, 2020. “Responsible Institutional Investing Around the World.” Swiss Finance Institute Research Paper Series 20-13.
- Schmidt, A.B. “Optimal ESG Portfolios: An Example for the Dow Jones Index”
- Schramade, W. “Integrating ESG into Valuation Models and Investment Decisions: The Value Driver Adjustment Approach.”
- Serafeim, George. “Public Sentiment and the Price of Corporate Sustainability.” Financial Analysts Journal 76.2 (2020): 26-46.18
- Starks, Laura T. and Venkat, Parth and Zhu, Qifei. “Corporate ESG Profiles and Investor Horizons”
- Turban, Daniel B., and Daniel W. Greening. “Corporate social performance and organizational attractiveness to prospective employees.” Academy of Management Journal 40, no. 3 (1997): 658-672.
- Waddock, Sandra A., and Samuel B. Graves. “The corporate social performance–financial performance link.” Strategic Management Journal 18, no. 4 (1997): 303-319.
- Wu, J., Lodorfos, G., Dean, A., & Gioulmpaxiotis, G. (2017). “The Market Performance of Socially Responsible Investment during Periods of the Economic Cycle—Illustrated Using the Case of FTSE.”
- Zerbib, Olivier David. “A Sustainable Capital Asset Pricing Model (S-CAPM): Evidence from Green Investing and Sin Stock Exclusion” (October 13, 2020).
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ESG Taxonomies, frameworks, regulations & disclosure requirements
- The EU Taxonomy of Sustainable Economic Activities: Exploring the EU taxonomy system.
- UK Green Taxonomy
- Principles for Responsible Investments
- Provision of Non-Financial Data: Mapping of Stakeholders, Products and Services.
- European and UK regulations summary.
- Green Finance Education Charter (Green Finance Institute)
- Building a Global ESG Disclosure Framework: A path forward
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ESG articles and papers addressing important strategic issues?
- ESG Investing: Practices, Progress and Challenges
- Learning From The EU Approach.
- Setting a Global Standard for Nonfinancial Information:
- Setting a Global Sustainable Accounting Framework.
- Six Trends Transforming Finance for a Sustainable Economy
- How Financial Centers Across All Continents Are Mobilizing Their Capital, Resources, Connectivity, And Expertise To Align With The Objectives Of A Sustainable Financial System
- Sustainable Investment in the European Asset Management Industry: Defining and Sizing ESG Strategies
- The Role of Green Finance and its Challenges for Europe
- ESG Impact Is Hard To Measure But Not Impossible: Going beyond ESGs
- Sustainable Finance and the General Public
- ESG data sets - A wide variety of environmental, social and governance data sets freely available for your analysis.
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ESG Taxonomies, frameworks, regulations & disclosure requirements
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Some examples of research Act Analytics are supporting or looking to support includes:
- Environmental performance of companies as measured through news.
- How does diversity of a company’s board translate to diversity sentiment and shareholder value?
- Use of news sentiment for investor insight into sustainability linked loans.
- How does banks financing of fossil fuels translate into environmental news sentiment.
- How does news sentiment analysis combat greenwashing? How does ESG news sentiment compare to CSR disclosed ratings?
- How have corporations performed on Social justice and labor rights during Covid and their market implications?
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There are no open Hackathon sprints at this time. Please check frequently for updates.