In response to private insurers' postwar withdrawal from urban neighborhoods, roughly half of US states developed programs in the late 1960s that offered residual property insurance to property owners denied in the private market. These plans, known as Fair Access to Insurance Requirements...

We analyze firms' carbon reduction strategies worldwide and identify one key channel: large, primarily European firms facing increased investor pressure divest pollutive assets to firms that are less in the limelight. There is no evidence of increased engagement in other emission reduction...

This paper examines the determinants of private equity activity across Europe. We analyze a total of 43 explanatory variables, categorized into six groups: Economy; Finance and capital markets; Quality of institutions; Life quality; Economic freedom and Globalization. We assess their impact on...

A growing group of institutional investors use divestment strategically to deter misconducts that are harmful for the climate and society. Based on Kantian ethics, we propose that divestment represents investors' universal and absolute moral commitment to socially responsible investing (SRI)....

Purpose of the article: The purpose of this article is to assess private equity exit strategies of CEE portfolio companies with regards to desired exit routes, including a cross-border deal aspect and a pre-exit holding period. Methodology/methods: This paper employs secondary data from the...

Disinvestments have often been used by the governments as a means to shore up receipts and reduce the fiscal deficit. Disinvestment refers to the sale of shares of Public Sector Undertakings (PSUs) by the government. Divestment or disinvestment means selling a stake in a company, subsidiary or...

We look at divestments by foreign firms – a topic that has received comparatively little attention in the literature – and investigate how changes in the regulatory environment in the host country may impact on such divestment decisions. We use the implementation of China’s Two Control...

Purpose – Foreign direct investment (FDI) by multinational enterprises (MNEs) has increased in recent years, and simultaneous foreign direct divestment (FDD) by subsidiaries is also very common. FDD can have a significant effect both on the performance of the MNE and the host economy. This...

This paper studies whether green investors can influence corporate greenhouse gas emissions through capital markets, either by divesting their stock and limiting polluters' access to capital, or holding polluters' stock and engaging with management. We focus on public pension funds, classifying...

We look at divestments by foreign firms - a topic that has received comparatively little attention in the literature - and investigate how changes in the regulatory environment in the host country may impact on such divestment decisions. We use the implementation of China's Two Control Zone...

Affiliates of foreign multinationals offer potential growth and benefits through years of successful operation and successive expansions, including through job creation, new skills and technologies, and deeper participation in global value chains. In fact, reinvestment has become an increasingly...

Subsidiaries are important in the global strategy of multinational enterprises (MNEs). However, in the face of uncertainty and competition, the decision to divest a subsidiary from a market becomes a critical decision for MNEs. This study suggests that the factors for divesting subsidiaries are...

The Russian invasion of Ukraine in February 2022 and the corporate decisions that followed offer insights into the extent to which Western firms are willing and able to sever commercial ties with nations now viewed as geopolitical rivals by their governments. We gathered extensive data on equity...

An unfamiliar term in the not-too-distant past, "net zero" has become a headline-maker in the business and financial world with the growing importance of climate change. Succumbing to increasing pressure, companies and financial institutions around the world have come to adopt net-zero...

We look at divestments by foreign firms - a topic that has received comparatively little attention in the literature - and investigate how changes in the regulatory environment in the host country may impact on such divestment decisions. We use the implementation of China's Two Control Zone...

Many small businesses closed in the pandemic, but were economic losses disproportionately felt by businesses owned by people of color? This paper provides the first study of the impacts of COVID-19 on racial inequality in business earnings. Pandemic-induced losses to business earnings in 2020...

Many small businesses closed in the pandemic, but were economic losses disproportionately felt by businesses owned by people of color? This paper provides the first study of the impacts of COVID-19 on racial inequality in business earnings. Pandemic-induced losses to business earnings in 2020...

This paper introduces DivFolio, a multi-period portfolio selection and analytic software application that incorporates automated and user-determined divestment practices accommodating Environmental Social Governance (ESG) and portfolio carbon footprint considerations. This freely available...

This is intended as supplementary (explanatory) note to the following paper available at SSRN since January 13 2022.Evenett, Simon and Pisani, Niccolò, Less than Nine Percent of Western Firms Have Divested from Russia (December 20, 2022). Available at SSRN: https://ssrn.com/abstract=4322502

The file contains the list of 36,000 firms retrieved from ORBIS on April 22 2022. This is intended as supplementary data to the following paper available at SSRN since January 13 2022.Evenett, Simon and Pisani, Niccolò, Less than Nine Percent of Western Firms Have Divested from Russia (December...

An unfamiliar term in the not-too-distant past, “net zero” has become a headline-maker in the business and financial world with the growing importance of climate change. Succumbing to increasing pressure, companies and financial institutions around the world have come to adopt net-zero...

Should investors screen out non-responsible firms from their portfolio, or invest in them and engage with the management? This paper evaluates the relative effectiveness of these exit and voice strategies and uncovers the conditions under which each strategy is most impactful. Using a...

The debate about how to reconcile political with economic democracy is translated in the framework of wage- and profit-led growth in this paper. The inherent tension between providing sufficient profit incentive to motivate investment by the capitalist class and maintaining electoral...