AMEUR, Hachmi Ben; BOUSSETTA, Selma

doi:10.1007/s11156-023-01218-4

Metadatos

Mostrar el registro completo del ítem

Licencia de uso del documento

AMEUR, Hachmi Ben

BOUSSETTA, Selma

Bordeaux Sciences Economiques [BSE]

Idioma

Article de revue

Este ítem está publicado en

Review of Quantitative Finance and Accounting. 2023-10-19

Resumen en inglés

This paper contributes to the understanding of the relation between the environmental and social positioning of companies and the financial resilience in the specific context of the COVID-19 crisis. Resilience is measured through two dimensions based on stock price data: the severity of loss which captures the stability and the duration of recovery which captures the flexibility dimension. Using a sample of 1508 US based firms, we provide evidence that firms with high environmental and social (ES) rating were more resilient than low ES rating firms during the COVID-19 pandemic by lessening the severity of price drop and recovering faster. This effect is enhanced by using a non-linear approach based on quantiles. Further, we provide evidence that the effect of ES on resilience is focused on the environmental and social components. Interestingly, we show that management and shareholders sub-categories of the governance rating, have no impact on firm’s time to recovery during pandemic crisis.< Leer menos

Palabras clave en inglés

Corporate social responsibility

Financial resilience

Stock market

Us companies

Metadatos

Compartir este ítem

Licencia de uso del documento

Do environmental and social practices matter for the financial resilience of companies? Evidence from US firms during the COVID-19 pandemic

Idioma

Este ítem está publicado en

Resumen en inglés

Palabras clave en inglés

URI

DOI

Centros de investigación