This paper aims to analyze so-called anomalies or additional risk factors (other than market risk) on the Hong Kong stock exchange. To do so, we first select arbitrarily several factors that we a priori believe to be significant, we then collect the data and evaluate the returns associated with...

This study finds that economic policy uncertainty (EPU) has different impacts on different categories of corporate environmental, social, and governance (ESG) performance. EPU increases corporate governance quality, suggesting that good governance may serve as a hedge against adverse shocks....