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

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

Two Novel Indices of Climate-Related Financial Disclosure

Market-based solutions to climate change are widely advocated by financial actors and policy-makers in order to foster a smooth transition to a low-carbon economy. A first important limiting factor to this approach is widely recognized to be the imperfect information on investor portfolio exposure to climate related risks. While better disclosure of climate-relevant information is [...]

By | June 1st, 2017|New research|0 Comments