Browse
Submit Data
Databases
API
Help

Dataset Information

19 Views

0 Connections

0 Citations

0 Reanalyses

0 Downloads

Omics score: 0

The role of ESG performance during times of financial crisis: Evidence from COVID-19 in China.

ABSTRACT: We examine the role of ESG performance during market-wide financial crisis, triggered in response to the COVID-19 global pandemic. The unique circumstances create an inimitable opportunity to question if investors interpret ESG performance as a signal of future stock performance and/or risk mitigation. Using a novel dataset covering China's CSI300 constituents, we show (i) high-ESG portfolios generally outperform low-ESG portfolios (ii) ESG performance mitigates financial risk during financial crisis and (iii) the role of ESG performance is attenuated in 'normal' times, confirming its incremental importance during crisis. We phrase the results in the context of ESG investment practices.

SUBMITTER: Broadstock DC

PROVIDER: S-EPMC7425769 | biostudies-literature | 2021 Jan

REPOSITORIES: biostudies-literature

ACCESS DATA

Json Xml

Publications

The role of ESG performance during times of financial crisis: Evidence from COVID-19 in China.

Broadstock David C DC Chan Kalok K Cheng Louis T W LTW Wang Xiaowei X

Finance research letters 20200813

We examine the role of ESG performance during market-wide financial crisis, triggered in response to the COVID-19 global pandemic. The unique circumstances create an inimitable opportunity to question if investors interpret ESG performance as a signal of future stock performance and/or risk mitigation. Using a novel dataset covering China's CSI300 constituents, we show (i) high-ESG portfolios generally outperform low-ESG portfolios (ii) ESG performance mitigates financial risk during financial c ...[more]

PMID: 32837385

Similar Datasets

Financial contagion during COVID-19 crisis.

Project description:This study examines how financial contagion occurs through financial and nonfinancial firms between China and G7 countries during the COVID-19 period. The empirical results show that listed firms across these countries, financial and non-financial firms alike, experience significant increase in conditional correlations between their stock returns. However, the magnitude of increase in these correlations is considerably higher for financial firms during the COVID-19 outbreak, indicating the importance of their role in financial contagion transmission. They also show that optimal hedge ratios increase significantly in most cases, implying higher hedging costs during the COVID-19 period.

| S-EPMC7245292 | biostudies-literature

Sources of information in times of health crisis: evidence from Turkey during COVID-19.

Project description:Aim:Media as a source of information can shape public opinion regarding the COVID-19 response. Identifying how and where people seek information during the COVID-19 outbreak is vital to convey the most effective message about managing the COVID-19 crisis. The purpose of this study was to determine the sources of information and investigate the role of various demographic factors-age, gender, educational attainment and perceived economic level-on sources of information. Subject and methods:An online survey (n?=?4624) was conducted on Turkish public during the early stages of the COVID-19. Results:The results showed that internet journalism and social media were the most preferable sources of information. Higher age, educational attainment and economic level were related to higher levels of seeking information from TV, newspaper, internet journalism and informative meetings. Females obtained information more from their friends and family and social media than males. High school graduates or below watched more TV and obtained less information from internet journalism, while university graduates sought information from their families and friends, and postgraduates attended informative meetings and read newspapers. People with medium and high economic status, respectively, watched more TV and read more newspapers, while people with low socioeconomic status attended informative meetings less. Conclusion:In sum, this study provides evidence that a source of information might be influenced by demographic factors. Researchers and policymakers can use a source of information to develop crisis-response strategies by considering variations in the demographic factors.

| S-EPMC7552946 | biostudies-literature

Budgeting and employee stress in times of crisis: Evidence from the Covid-19 pandemic

Project description:Prior research has shown that that management control practices change in response to global crises, yet we have little understanding of the behavioral consequences of these changes. The purpose of this study is to explore the behavioral effects that stem from crisis-induced changes to management control practices and the factors that intensify or diminish these effects. Using survey data from business unit managers in the Netherlands, our results show that firms tighten their budget controls in response to a negative impact of Covid-19. In turn, the tightening of budget controls is positively associated with employees’ emotional exhaustion because of increased perceptions of role ambiguity and role conflict. We furthermore find that the effect of tighter budget controls on role ambiguity is mitigated when managers perceive that the budget controls are used in an enabling way prior to the crisis but heightened with increased trust in senior management. These results suggest that if firms use their budgets to help managers acquire a deeper understanding of their tasks and responsibilities, they are better able to respond to a negative shock and the accompanying tightening of budget controls, which helps mitigate the undesired behavioral response of increased role ambiguity and emotional exhaustion. Our findings also suggest that trust, which usually is beneficial to organizations, has a ‘dark’ side in that managers will push themselves harder to reciprocate the trust they have in their senior managers, which exacerbates the effect of tighter budget controls on role ambiguity and, in turn, emotional exhaustion.

| S-EPMC8801259 | biostudies-literature

Short-selling restrictions and financial stability in Europe: Evidence from the Covid-19 crisis

Project description:In March 2020, six European countries imposed temporary short-selling bans to prevent further stock price declines, to reduce volatility, and to ensure financial stability during the Covid-19 pandemic, whereas other countries abstained from implementing these restrictions. We examine the effects of these regulatory interventions on stock returns and market quality for major European countries with and without bans. Our results reveal that restricting short selling did not stabilize stock prices but adversely affected market liquidity, as reflected in wider bid-ask spreads and lower turnover. In addition, smaller stock markets and smaller firms suffered more from the deterioration in market quality. Using logit regressions, we investigate the determinants for the probability that a country would impose short-selling restrictions. The results suggest that countries with weaker economies, lower fiscal capacity, less financial development, and stricter lockdown measures were more likely to adopt a ban. Overall, short-selling bans during the Covid-19 crisis negatively affected market quality and consequently regulators in general should abstain from implementing such restrictions in the future.

| S-EPMC9297707 | biostudies-literature

COVID-19: Short-term forecast of ICU beds in times of crisis.

Project description:By early May 2020, the number of new COVID-19 infections started to increase rapidly in Chile, threatening the ability of health services to accommodate all incoming cases. Suddenly, ICU capacity planning became a first-order concern, and the health authorities were in urgent need of tools to estimate the demand for urgent care associated with the pandemic. In this article, we describe the approach we followed to provide such demand forecasts, and we show how the use of analytics can provide relevant support for decision making, even with incomplete data and without enough time to fully explore the numerical properties of all available forecasting methods. The solution combines autoregressive, machine learning and epidemiological models to provide a short-term forecast of ICU utilization at the regional level. These forecasts were made publicly available and were actively used to support capacity planning. Our predictions achieved average forecasting errors of 4% and 9% for one- and two-week horizons, respectively, outperforming several other competing forecasting models.

| S-EPMC7806165 | biostudies-literature

Predictors and Consequences of Work Alienation in Times of Crisis: Evidence from Two Longitudinal Studies During the COVID-19 Pandemic.

Project description:The present research investigates whether employees felt more alienated from their work during the COVID-19 pandemic than before it, and examines the causes and consequences of this increase in work alienation. To do so, two longitudinal studies using data collected before (T1; October 2019 [Study 1] and November 2019 [Study 2]) and during the first wave of the COVID-19 pandemic (T2; May 2020 [Studies 1 and 2]) were conducted (i.e., repeated measures). Data of both studies were analyzed using unobserved effects panel data models. Results of Study 1 (N = 197) indicated that employees reported higher levels of work alienation during the COVID-19 pandemic. Going one step further, results of Study 2 (N = 295) showed that this higher feeling of work alienation may be explained by an increase in professional isolation and a decrease in meaningfulness of work induced by the COVID-19 pandemic. Results also demonstrated that this increase in work alienation negatively affected employees' job satisfaction, affective commitment, and turnover intentions. Findings are discussed and practical implications for managers are identified.Supplementary informationThe online version contains supplementary material available at 10.1007/s12144-022-03372-9.

| S-EPMC9255511 | biostudies-literature

Public Mental Health Crisis during COVID-19 Pandemic, China.

Project description:The 2019 novel coronavirus disease emerged in China in late 2019-early 2020 and spread rapidly. China has been implementing emergency psychological crisis interventions to reduce the negative psychosocial impact on public mental health, but challenges exist. Public mental health interventions should be formally integrated into public health preparedness and emergency response plans.

| S-EPMC7323564 | biostudies-literature

Biobanking in times of crisis – The COVID-19 Autopsy and Biosample Registry Baden-Wuerttemberg

Project description:Biobanking plays a critical role in diagnostics, biomarker research and development of novel treatment approaches for various diseases. In urgent need of understanding, preventing, and treating coronavirus disease 2019 (COVID-19), caused by the severe acute respiratory syndrome coronavirus-2 (SARS-CoV-2), the importance of biobanking including data sharing and management further increased. To provide high quality tissue biomaterials and data for research and public health, the COVID-19 Autopsy and Biosample Registry was established in the state of Baden-Wuerttemberg (BW) in Germany, combining expertise and technologies of the Institutes of Pathology of the five university hospitals in BW (Heidelberg, Tübingen, Ulm, Freiburg, Mannheim). The COVID-19 Autopsy and Biosample Registry BW comprises tissue samples from autopsies and associated data of deceased patients in the context of SARS-CoV-2 infection and/or vaccination against SARS-CoV-2. The aim is to collect autopsy biospecimens, associated clinical and diagnostic data in a timely manner, register them, make them accessible for research projects and thus to support especially tissue-related research addressing COVID-19. By now, the BW network holds multiple collaborations and supported numerous publications to increase the understanding of COVID-19 disease. The achievements of the BW network as a landmark biobanking model project represent a potential blueprint for future disease-related biobanking and registry effort.

| S-EPMC9250824 | biostudies-literature

COVID-19's disasters are perilous than Global Financial Crisis: A rumor or fact?

Project description:This investigation employed the Asymmetric Power GARCH model and found that COVID-19 substantially harms the US and Japan's market returns. Moreover, COVID-19 has influenced the variance of the US, Germany, and Italy's stock markets more than the Global Financial Crises (GFC). However, GFC indicated a more significant impact on the financial volatility of the Nikkei 225 index and SSEC than COVID-19. The study confirmed the leverage effect for the S&P 500, Nasdaq Composite Index, DAX 30, Nikkei 225, FTSE MIB, and SSEC. The analysis authenticated that the health crisis that befell due to COVID-19 have imperatively originated the financial crisis globally; however, the Asian markets still make available better prospects for portfolio optimization.

| S-EPMC7318935 | biostudies-literature

Role of committed minorities in times of crisis.

Project description:The surprising social phenomena of the Arab Spring and the Occupy Wall Street movement posit the question of whether the active role of committed groups may produce political changes of significant importance. Under what conditions are the convictions of a minority going to dominate the future direction of a society? We address this question with the help of a Cooperative Decision Making model (CDMM) which has been shown to generate consensus through a phase-transition process. We observe that in a system of a finite size the global consensus state is not permanent and times of crisis occur when there is an ambiguity concerning a given social issue. The correlation function within the cooperative system becomes similarly extended as it is observed at criticality. This combination of independence (free will) and long-range correlation makes it possible for very small but committed minorities to produce substantial changes in social consensus.

| S-EPMC3586704 | biostudies-other

OmicsDI is part of the ELIXIR infrastructure

OmicsDI is an Elixir interoperability service. Learn more ›

OmicsDI Databases

PRIDE
PeptideAtlas
MassIVE
JPOST Repository
Physiome Model Repository

EGA
EVA
ENA
LINCS
PAXDB
Cell Collective

MetaboLights
Metabolomics Workbench
MetabolomeExpress
GNPS
BioModels
FAIRDOMHub

ArrayExpress
dbGaP
ExpressionAtlas
GEO
NODE

Information

Databases
Help
API
Contact us
Code on GitHub
Terms of use
Submit Data