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Essays On Corporate Sustainability, Aditya Malateesh Kashikar
Essays On Corporate Sustainability, Aditya Malateesh Kashikar
Dissertations, Theses, and Capstone Projects
The dissertation provides an extensive literature review of topics in Corporate Sustainability. It further examines two key topics: ESG Pay and ESG Investing. For ESG Pay, I examine Bloomberg’s ESG linked pay measure using the largest panel (to date). I confirm several important results from the nascent literature on ESG Pay. Firstly, I find that Country and Industry play a major role in determining ESG Pay adoption. Secondly, among firm characteristics, Big and Value firms tend to have a greater probability of adopting ESG Pay. Thirdly, higher ESG scores increase the chance of ESG Pay adoption in the subsequent year. …
Essays On Social Connectedness, Institutional Behavior, And Market Predictability, Yan Li
Essays On Social Connectedness, Institutional Behavior, And Market Predictability, Yan Li
Dissertations, Theses, and Capstone Projects
This dissertation consists of three chapters that encompass social network, institutional investor behavior, financial market efficiency, and market return predictability.
Chapter 1: We use social network data from Facebook to show that institutional investors are more likely to invest in firms that are located in areas the investor is more socially connected to. This effect is particularly large for investments in small and informationally opaque firms. After controlling for social connectedness, investments do not vary with the geographic distance between investors and firms. We find no evidence that investors achieve higher returns when investing in firms located in areas that …