ESG performance and stock prices: evidence from the COVID-19 outbreak in China

Li, Zengfu; Feng, Liuhua; Pan, Zheng; Sohail, Hafiz M.

doi:10.1057/s41599-022-01259-5

Cited by 36 publications

(23 citation statements)

References 44 publications

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“…Broadstock et al (2021) suggest that their findings are consistent with the signaling role that ESG ratings offer to investors in terms of resilience against risk. Moreover, the findings of Li et al (2022) show that ESG ratings play a role in mitigating the downside risk of Chinese stocks prices during the Covid-19 pandemic. They document that ESG act as a risk management tool in times of crisis, to enhance the firm's price resilience, especially among firms with severe negative shocks.…”

Section: Esg Performance and Stock Price Risk During Covid-19 Pandemicmentioning

confidence: 99%

“…For example, several empirical studies document that stocks with higher ESG exhibit higher returns during the Covid-19 pandemic, such as Beloskar andRao (2022), El Khoury et al (2022), Gregory (2022) and Li et al (2022). In contrast, other studies report that stocks with high ESG ratings are not necessarily associated with high returns during the pandemic, such as Takahashi and Yamada (2021), Abedifar et al (2022) and Pavlova and de Boyrie (2022).…”

Section: Conclusion and Directions Of Future Researchmentioning

confidence: 99%

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Corporate immunity during crises and pandemics: does ESG matter? Literature review and future prospects

Mounir

Ali

2022

MSAR

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PurposeThis research aims at synthesizing the existing body of literature on the role of environmental, social and governance (ESG) during the Covid-19 global pandemic, identifying the research agenda and perspectives on the role of ESG during times of economic turbulences and pointing to gaps and future research directions in this area.Design/methodology/approachA literature review of academic articles that focus on the role of ESG investments during the Covid-19 pandemic is conducted. These studies are identified based on searching/containing the keywords “ESG”, “Corporate Social Responsibility (CSR)”, “Sustainability” and “Sustainable Finance” in combination with one or more of the following terms: “Covid-19”, “Pandemic” “and Crisis”. Then, the authors explore the key directions/themes in these papers, and highlight the main gaps and areas that are evolving as future research opportunities.FindingsThe empirical findings provide overall compelling evidence in support of the role of ESG during times of crisis, especially when it comes to stock risk and volatility. For example, several studies report that ESG stocks are associated with superior stock performance (higher stock returns and firm value) during the pandemic, while other studies report that ESG act as a risk protection tool during times of crisis, as they document that ESG stocks are associated with lower volatility and lower downside risk during the Covid-19 crisis.Originality/valueTo the best of the authors knowledge, no review of the literature on the role that ESG plays during crises and pandemics has been conducted before. Thus, it fulfills this research gap in the literature.

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Section: Esg Performance and Stock Price Risk During Covid-19 Pandemicmentioning

confidence: 99%

Section: Conclusion and Directions Of Future Researchmentioning

confidence: 99%

Corporate immunity during crises and pandemics: does ESG matter? Literature review and future prospects

Mounir

Ali

2022

MSAR

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“…(1) do not cause negative consequences for society (S-component) and the environment (E-component) (Li et al, 2022); (2) provide benefits for society (S-component) and the environment (Ecomponent) (Long and Blok, 2021). It should be emphasized that economic efficiency is taken into account using the G-component (Popkova et al, 2022).…”

Section: Literature Reviewmentioning

confidence: 99%

Economic and legal approaches to the humanization of FinTech in the economy of artificial intelligence through the integration of blockchain into ESG Finance

Kazachenok

Stankevich

Chubaeva

et al. 2023

Humanit Soc Sci Commun

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The purpose of the article is to study the current experience and prospects of the humanization of FinTech in the economy of artificial intelligence. The research methodology is based on the use of the method of structural equation modeling (SEM). The study analyzes statistics for 2021–2022 (annual indicators). The sample included 118 countries. As a result, the modern international experience of FinTech humanization in the economy of artificial intelligence has been studied and the causal relationships of FinTech humanization in the economy of artificial intelligence through the integration of blockchain into ESG finance have been identified. The article proposes an economic and legal approach to the humanization of FinTech in the economy of artificial intelligence by integrating blockchain into ESG finance to ascertain the economic and political implications. The article contributes to the literature by clarifying the scientific provisions of the concept of the humanization of the economy. The theoretical significance of the obtained results is that the developed model (SEM) and the detailed regression equations have formed a comprehensive understanding of the patterns of humanization of FinTech. The resulting econometric model can be used to predict prospects for the development of blockchain-based ESG finance, as well as high-precision planning of state economic policy. The practical significance of the authors’ conclusions and recommendations is that they have formed a clear idea of modern barriers (“market failures” and “institutional traps”) and prospects (improvement of the institutional environment through the application of an economic and legal approach) to the humanization of FinTech in the economy of artificial intelligence through the integration of blockchain into ESG finance.

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“…In particular, reputation and insurance effects are important mechanisms through which ESG performance can influence stock prices. In fact, ESG effects are considerably pronounced among firms with low human capital and poor image and in high-impact regions (Li et al, 2022).…”

Section: Market Asymmetries In Food Production Systemsmentioning

confidence: 99%

“…Particularly those technologies based on mobile (smartphone) applications and Application Program Interfaces (APIs), GI initiatives, conforming to ESG initiatives for rural products and services. These are current demands in line with global markets and people moving toward rational consumption of products and services (Li et al, 2022;O'Hearn et al, 2022;Palmieri et al, 2022).…”

Section: Simplified Digital Gi For Smallholders To Minimize Market As...mentioning

confidence: 99%

Digital transformation for improving sustainable value of products and services from agri-food systems

Silva¹,

Papa²,

Bergier³

et al. 2022

Front. Sustain.

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Value is routinely concentrated at the final links of food production chains as a consequence of market failures or asymmetries that distribute wealth unevenly in agri-food supply systems. Otherwise, for products with a geographic origin, the share can be more equitably distributed by adding environmental, sociocultural or technological values to products associated with sustainable models. Protecting a geographic indication (GI) of value-added products requires complex collective rules of sui generis systems, certified trademarks or business practices, including the approval of protocols or even unfair protection suitlaws. These rules are created on multilevel legislations gathering intrinsic cultural, historical and economic features. As a result, GI schemes are typically costly thus preventing access of general smallholders in product-valued chains. Digital technologies like mobile applications have a promising role in minimizing these limitations along food production chains, from pre-production to production and post-production. The pervasive spread of mobile devices with useful built-in sensors can be therefore a major consequence of the digital transformation in agriculture by means of intuitive applications combined with high-level technologies such as cloud/edge computing and Application Programming Interfaces (APIs). In this article, we present a new perspective on the digital transformation of the agri-food sector that may fasten smallholders' inclusion and access in market ecosystems of value-added products with GI. Such perspective demands the understanding of stakeholders networks for customizing mobile applications for digital authentication of product GI. The approach can foster new compliance schemes as those embedded in Environmental, Social and Governance (ESG) market initiatives.

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ESG performance and stock prices: evidence from the COVID-19 outbreak in China

Cited by 36 publications

References 44 publications

Corporate immunity during crises and pandemics: does ESG matter? Literature review and future prospects

Corporate immunity during crises and pandemics: does ESG matter? Literature review and future prospects

Economic and legal approaches to the humanization of FinTech in the economy of artificial intelligence through the integration of blockchain into ESG Finance

Digital transformation for improving sustainable value of products and services from agri-food systems

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