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Full-Text Articles in Business
Consumers’ Reaction To Corporate Esg Performance: Evidence From Store Visits, Frank Weikai Li, Frank Weikai Li, Roni Michaely
Consumers’ Reaction To Corporate Esg Performance: Evidence From Store Visits, Frank Weikai Li, Frank Weikai Li, Roni Michaely
Research Collection Lee Kong Chian School Of Business
Using micro-level data on consumer shopping behavior, this paper investigates end-consumers’ attitudes toward firms’ ESG behavior, and as importantly, the ability of consumers to affect firms’ policy concerning sustainability issues. We find that consumers care about firms’ approach toward ESG, and consumers’ behavior can impact firms’ attitudes. Using ESG incidents as a proxy, we find that the reduction in store visits is more pronounced for ESG-conscious consumers, such as those living in democratic counties, and counties with a higher fraction of educated and younger residents. Online shopping interest data yields similar results. Using abnormally hot temperature as a shock to …
The Global Sustainability Footprint Of Sovereign Wealth Funds, Hao Liang, Luc Renneboog
The Global Sustainability Footprint Of Sovereign Wealth Funds, Hao Liang, Luc Renneboog
Research Collection Lee Kong Chian School Of Business
With the emergence of sovereign wealth funds (SWFs) around the world managing equity of over $8 trillion, their impact on the corporate landscape and social welfare is being scrutinized. This study investigates whether and how SWFs incorporate environmental, social, and governance (ESG) considerations in their investment decisions in publicly listed corporations, as well as the subsequent evolution of target firms' ESG performance. We find that SWF funds do consider the level of past ESG performance as well as recent ESG score improvement when taking ownership stakes in listed companies. These results are driven by the SWF funds that do have …