ESG news and long-run stock returns
| dc.contributor.author | Vu, Thanh Nam | |
| dc.contributor.author | Junttila, Juha-Pekka | |
| dc.contributor.author | Lehkonen, Heikki | |
| dc.date.accessioned | 2024-01-11T13:41:51Z | |
| dc.date.available | 2024-01-11T13:41:51Z | |
| dc.date.issued | 2024 | |
| dc.identifier.citation | Vu, 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.other | CONVID_197633282 | |
| dc.identifier.uri | https://jyx.jyu.fi/handle/123456789/92713 | |
| dc.description.abstract | This 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.mimetype | application/pdf | |
| dc.language.iso | eng | |
| dc.publisher | Elsevier | |
| dc.relation.ispartofseries | Finance Research Letters | |
| dc.rights | CC BY 4.0 | |
| dc.subject.other | ESG news | |
| dc.subject.other | ESG investing | |
| dc.subject.other | market reactions | |
| dc.subject.other | sustainability | |
| dc.title | ESG news and long-run stock returns | |
| dc.type | article | |
| dc.identifier.urn | URN:NBN:fi:jyu-202401111214 | |
| dc.contributor.laitos | Kauppakorkeakoulu | fi |
| dc.contributor.laitos | School of Business and Economics | en |
| dc.type.uri | http://purl.org/eprint/type/JournalArticle | |
| dc.type.coar | http://purl.org/coar/resource_type/c_2df8fbb1 | |
| dc.description.reviewstatus | peerReviewed | |
| dc.relation.issn | 1544-6123 | |
| dc.relation.volume | 60 | |
| dc.type.version | publishedVersion | |
| dc.rights.copyright | © 2023 The Author(s). Published by Elsevier Inc. | |
| dc.rights.accesslevel | openAccess | fi |
| dc.subject.yso | markkina-arvo | |
| dc.subject.yso | uutisointi | |
| dc.subject.yso | arvopaperimarkkinat | |
| dc.subject.yso | yritykset | |
| dc.subject.yso | kestävä kehitys | |
| dc.format.content | fulltext | |
| jyx.subject.uri | http://www.yso.fi/onto/yso/p22006 | |
| jyx.subject.uri | http://www.yso.fi/onto/yso/p21431 | |
| jyx.subject.uri | http://www.yso.fi/onto/yso/p12456 | |
| jyx.subject.uri | http://www.yso.fi/onto/yso/p3128 | |
| jyx.subject.uri | http://www.yso.fi/onto/yso/p8470 | |
| dc.rights.url | https://creativecommons.org/licenses/by/4.0/ | |
| dc.relation.doi | 10.1016/j.frl.2023.104915 | |
| jyx.fundinginformation | Vu 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.okm | A1 |
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