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dc.contributor.authorVu, Thanh Nam
dc.contributor.authorJunttila, Juha-Pekka
dc.contributor.authorLehkonen, Heikki
dc.date.accessioned2024-01-11T13:41:51Z
dc.date.available2024-01-11T13:41:51Z
dc.date.issued2024
dc.identifier.citationVu, T. N., Junttila, J.-P., & Lehkonen, H. (2024). ESG news and long-run stock returns. <i>Finance Research Letters</i>, <i>60</i>, Article 104915. <a href="https://doi.org/10.1016/j.frl.2023.104915" target="_blank">https://doi.org/10.1016/j.frl.2023.104915</a>
dc.identifier.otherCONVID_197633282
dc.identifier.urihttps://jyx.jyu.fi/handle/123456789/92713
dc.description.abstractThis paper investigates the persistence of ESG news' effects on US stock returns. Utilizing a rolling-portfolio approach to calculate overlapping returns of news-based portfolios, extending up to twelve months post-news release, we find that market reactions to ESG news are fleeting and reversing within a month in the most recent sample period. This suggests ESG news has no enduring influence on stock returns. Notably, the reactions are prominent for social and governance themes but not for environmental-related news. This study is one of the first attempts to understand how ESG news can affect a company's value over the long term.en
dc.format.mimetypeapplication/pdf
dc.language.isoeng
dc.publisherElsevier
dc.relation.ispartofseriesFinance Research Letters
dc.rightsCC BY 4.0
dc.subject.otherESG news
dc.subject.otherESG investing
dc.subject.othermarket reactions
dc.subject.othersustainability
dc.titleESG news and long-run stock returns
dc.typearticle
dc.identifier.urnURN:NBN:fi:jyu-202401111214
dc.contributor.laitosKauppakorkeakoulufi
dc.contributor.laitosSchool of Business and Economicsen
dc.type.urihttp://purl.org/eprint/type/JournalArticle
dc.type.coarhttp://purl.org/coar/resource_type/c_2df8fbb1
dc.description.reviewstatuspeerReviewed
dc.relation.issn1544-6123
dc.relation.volume60
dc.type.versionpublishedVersion
dc.rights.copyright© 2023 The Author(s). Published by Elsevier Inc.
dc.rights.accesslevelopenAccessfi
dc.subject.ysomarkkina-arvo
dc.subject.ysouutisointi
dc.subject.ysoarvopaperimarkkinat
dc.subject.ysoyritykset
dc.subject.ysokestävä kehitys
dc.format.contentfulltext
jyx.subject.urihttp://www.yso.fi/onto/yso/p22006
jyx.subject.urihttp://www.yso.fi/onto/yso/p21431
jyx.subject.urihttp://www.yso.fi/onto/yso/p12456
jyx.subject.urihttp://www.yso.fi/onto/yso/p3128
jyx.subject.urihttp://www.yso.fi/onto/yso/p8470
dc.rights.urlhttps://creativecommons.org/licenses/by/4.0/
dc.relation.doi10.1016/j.frl.2023.104915
jyx.fundinginformationVu also thanks the OP Group Research Foundation [grant numbers 20210056 and 20220058] and the Finnish Foundation for Share Promotion [grant number 2021-0024A] for the financial support.
dc.type.okmA1


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