Turkish Abstract: Bu çalışmada, hisse senedi getiri oranları ve Piyasa Değeri/Defter Değeri Oranı üzerinden BIST Sürdürülebilirlik Endeksi'nde yer alan firmalara yatırımcı tepkisi araştırılmıştır. Ortalama testleri sonucunda, sürdürülebilirlik endeksinde yer alan...

The M&A transactions represent a wide range of unique business optimization opportunities in the corporate transformation deals, which are usually characterized by the high level of total risk. The M&A transactions can be successfully implemented by taking to an account the size of investments,...

We exploit the Fukushima nuclear disaster as a source of variation in the demand for environmental information to study the economic consequences of environmental disclosure. Using a large, hand-collected sample of Japanese firms, we find that firms that issue stand-alone environmental reports...

In this paper, circumstances under which the prevention of market manipulation may not ultimately serve the common good, are considered. Prevention of these crimes is necessary given their considerable economic and social impacts. Recent prosecutions for manipulation of the important LIBOR...

This study provides evidence for the differential impacts of corporate social responsibility (CSR) initiatives targeting different stakeholder groups on stock price crash risk. In particular, it highlights CSR's role in mitigating risk and creating shareholder value. Our results reveal that...

This paper investigates the effect of corporate social responsibility on theinformation content of stock prices. Using a sample of 877 U.S.-listed firms, weprovide evidence that a firm’s CSR performance has a negative effect on stock pricesynchronicity, suggesting that socially responsible...

This study investigates whether corporate social responsibility (CSR) mitigates or contributes to stock price crash risk. Crash risk, defined as the conditional skewness of return distribution, captures asymmetry in risk and is important for investment decisions and risk management. If socially...

In 2017, United States President Donald Trump announced his intention to withdraw the U.S. from the Paris Agreement. Although there were concerns that the exit would impede the global effort to reduce greenhouse gas emissions, the environmental performance of U.S. firms in carbon-intensive...

We provide evidence that environmental, social, and governance (ESG) loans improve the credibility of firms' ESG disclosures. We develop our predictions using a theoretical model in which companies may withhold ESG information, or disclose it subject to misreporting costs. Higher misreporting...