This article examines whether the extra-fi nancial performance of countries on environmental, social and governance (ESG) factors matter for sovereign bonds markets. We propose an econometric analysis of the relationship between ESG performances and government bond spreads of 23 OECD countries...

Cet article examine les déterminants économiques des pratiques de responsabilité sociale et environnementale des entreprises (RSE), à savoir l'intégration volontaire de facteurs environnementaux, sociaux et de gouvernance dans la stratégie des entreprises. Nous présentons la littérature...

This paper develops a two-way director-firm fixed effect model to study the relationship between independent directors' individual heterogeneity and firm operating performance, using French data. This strategy allows considering and differentiating in a unified empirical framework mechanisms...

This paper sheds light on the impact sustainable and unsustainable corporate practices have on equity financing. We present a unique framed field experiment in which professional private equity investors competed in closed auctions to acquire fictive firms. We hence observe that corporate...

While often criticized, independence remains the ultimate criterion for evaluating board composition, whether for regulators or shareholder activists. In this study, we examine the relationship between board independence and firm operating performance in a panel of French listed companies,...

In this paper, we develop a model of innovation-based growth to address the issue of skill-biased technical change over the long run. We show that innovations fluctuate endogenously from skilled to unskilled sectors, thereby generating periods of increasing and decreasing wage inequality. This...

The growth of socially responsible investment on public financial markets has drawn considerable academic attention over the last decade. Discarding from previous literature, this paper sets up to analyze the Private Equity channel, which is shown to have the potentiality to foster sustainable...

This article analyzes the economics of Corporate Social Responsible behaviors, namely the voluntary integration of environmental, social and governance factors in firms' strategy. We review theoretical and empirical literature and provide a unified framework of the forces driving corporate...

This article analyzes how the actual and expected future activities of French Socially Responsible Investment (SRI) analysts may reveal a convergence process between SRI decisions and traditional financial investment decisions, that is a form of "mainstreaming" of SRI processes, by asking the...

In this paper, we develop a model of innovation-based growth to address the issue of skill-biased technical change over the long run. We show that innovations fluctuate endogenously from skilled to unskilled sectors, thereby generating periods of increasing and decreasing wage inequality. This...