An independent think tank that conducts and disseminates research on ESG and finance

About Jane Jagd

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So far Jane Jagd has created 44 blog entries.

Bank of America: ESG is the best signal we have found for future risk

Environmental, Social & Governance (ESG) factors are too critical to ignore, in our view. In our earlier report ESG: good companies can make good stocks, we found that ESG-based investing would have offered long-term equity investors substantial benefits in mitigating price risk, earnings risk and even existential risk for US stocks – ESG would have [...]

By | July 2nd, 2017|New research|0 Comments

Bloomberg and the TCFD – final recommendations

“Increasing transparency makes markets more efficient, and economies more stable and resilient.” —Michael R. Bloomberg, Chair of the TCFD To help identify the information needed by investors, lenders, and insurance underwriters to appropriately assess and price climate-related risks and opportunities for the companies, the Financial Stability Board established an industry-led task force: the Task Force [...]

By | June 29th, 2017|New research|0 Comments

To Disclose or Not to Disclose Climate-Change Risk in Form 10-K – Materiality and Cost of Equity

We examine the relation between managers’ decisions whether to disclose climate-change risk (CCR) in Form 10-K and firm risk. Ambiguity about the materiality of CCR and the SEC’s inconsistent enforcement of CCR disclosures cause uncertainty about whether disclosing CCR is mandatory or voluntary. We hand-collect data over a seven-year period from about 3,000 Form 10-K [...]

By | June 28th, 2017|New research|0 Comments

IFAC calls for integrated reporting

The International Federation of Accountants® (IFAC®) is the global organization for the accountancy profession dedicated to serving the public interest by strengthening the profession and contributing to the development of strong international economies. IFAC now calls for integrated reporting: “Leaders need to choose between two separate paths. In one direction lies renewed vigor for working [...]

By | June 28th, 2017|New research|0 Comments

EU Commission releases its Non-Financial Reporting guideline

Article 2 of the Directive refers to ‘guidance on reporting’ and sets out that ‘the Commission shall prepare non-binding guidelines on methodology for reporting non-financial information, including non-financial KPIs, general and sectoral, with a view to facilitating relevant, useful and comparable disclosure of non-financial information by undertakings. […]’ Recital 17 of the Directive states that, [...]

By | June 28th, 2017|New research|0 Comments

Corporate Social Responsibility Ratings and Financial Performance: An Analysis of Sub-Ratings in Europe

The overall objective of the study is to deepen our investigation into the CSR sub-ratings by measuring their impact on accounting and stock market performance by first using a "Prospective" approach in which the subsequent performance of the sample companies is predicted by their CSR sub-ratings in Vigeo. We then perform a "Retrospective" analysis which [...]

By | June 9th, 2017|New research|0 Comments

Nasdaq: ESG Reporting – Six Reasons Why

The corporate reporting of ESG, or environmental, social, and governance, data has come a long way. Only 20% of Fortune 500 companies reported ESG data in 2011. By 2016, according to the Governance and Accountability Institute, only 20% failed to report. More than 10,500 organizations have created almost 40,000 separate sustainability reports, according to the [...]

By | June 7th, 2017|New research|0 Comments

Harvard: Stock Price Synchronicity and Material Sustainability Information

We examine if, and under what conditions, disclosure of sustainability information identified as investor relevant by market-driven innovations in accounting standard-setting, is associated with stock prices reflecting more firm-specific information and thereby lower synchronicity with market and industry returns. We find that firms voluntarily disclosing more sustainability information, identified as material by the Sustainability Accounting [...]

By | June 4th, 2017|New research|0 Comments

Equity Market Diffusion and Resistance to Integrated Reporting

The International Integrated Reporting (IR) Framework (2013) identified providers of financial capital as its primary users. This research provides evidence from 22 mainstream UK equity market actors regarding the decision usefulness and diffusion of IR, as a reporting innovation, to them. Despite institutional-level support for IR, the interviews reveal that its use and diffusion to [...]

By | June 4th, 2017|New research|0 Comments

Effects of CEO’S experience and foreign ownership on CSR disclosure

This study examined the influence of the chief executive experience working abroad and ownership independent variables, as well as profitability and firm size as control variables on the disclosure of CSR. This research was based on information provided by industrial manufacturing companies listed on the Indonesia Stock Exchange in 2014. The date analysis and discussions [...]

By | June 4th, 2017|New research|0 Comments