| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP14661 |
| DP14661 Love in the Time of COVID-19: The Resiliency of Environmental and Social Stocks | |
| Rui Albuquerque; Yrjo Koskinen; Shuai Yang; Chendi Zhang | |
| 发表日期 | 2020-04-24 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | The COVID-19 pandemic and the subsequent lockdown brought about a massive slowdown of the economy and an unparalleled stock market crash. Using U.S. data, this paper explores how firms with high Environmental and Social (ES) ratings fare during the first quarter of 2020 compared to other firms. We show that stocks with high ES ratings have significantly higher returns, lower return volatilities, and higher trading volumes than other stocks. Firms with high ES ratings and high advertising expenditures perform especially well during the crash. This paper highlights the importance of ES policies in making firms more resilient during a time of crisis. |
| 主题 | Financial Economics |
| 关键词 | Esg Covid-19 Market crash Stock returns Volatility Trading volume Customer loyalty |
| URL | https://cepr.org/publications/dp14661 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/543575 |
| 推荐引用方式 GB/T 7714 | Rui Albuquerque,Yrjo Koskinen,Shuai Yang,et al. DP14661 Love in the Time of COVID-19: The Resiliency of Environmental and Social Stocks. 2020. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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