This paper provides results consistent with the proposition that engagement by and threat of deletion from a responsible investment index motivated persistent improvements to corporate environmental management practices, especially for firms where the threat of exclusion from the index was...

We use an experimental setting to investigate the impact of investor engagement and management attitudes on the reporting and performance of climate change management. Our results show that engaged companies were more likely than the control group to improve both their climate change reporting...

We examine the ability of a socially responsible investment index to effect firms' compliance with best-practice climate-change management and the subsequent impact on their carbon emissions. Using a quasi-experimental setting involving an international sample of large public companies we show...

We investigate the impact of employee treatment on labor investment efficiency. We provide evidence that employee-friendly treatment is significantly associated with lower deviations of labor investment from the level justified by economic fundamentals, i.e., higher labor investment efficiency....

This study investigates the impact of real earnings smoothing on labour investment efficiency. Our results show that real earnings smoothing is significantly associated with higher labour investment efficiency, supporting the private information signalling view of earnings smoothing. We also...

We construct theory-based measures of systemic bank shocks. These measures complement banking crisis indicators employed in many empirical studies, which we show capture (lagged) policy responses to systemic bank shocks. To illustrate the importance of disentangling shocks and policy responses...

We construct theory-based measures of systemic bank shocks, which differ from “banking crisis” indicators employed in many empirical studies and use these measures to reexamine the empirical evidence on some determinants of banking crises. We show that “banking crisis” indicators...

We examine the impact of climate change uncertainty on supply chain financing. We find that firms significantly curtail trade credit provision during periods of high climate change uncertainty. The cross-sectional variations of this effect with firm-specific factors such as vulnerability to...