Environmental stocks, CEO health risk and COVID-19

During the COVID-19 pandemic, we find that Australian firms with environmentally sustainable practices generated higher abnormal returns. Firms with CEOs who were exposed to significant health risks from COVID-19 experienced poorer stock market performance. Firms with low pre-COVID default risk and...

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Detalles Bibliográficos
Autores principales: Fernández-Méndez, Carlos, Pathan, Shams
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Published by Elsevier B.V. 2022
Materias:
Article
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8428483/
https://www.ncbi.nlm.nih.gov/pubmed/34522059
http://dx.doi.org/10.1016/j.ribaf.2021.101509
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author Fernández-Méndez, Carlos
Pathan, Shams
author_facet Fernández-Méndez, Carlos
Pathan, Shams
author_sort Fernández-Méndez, Carlos
collection PubMed
description During the COVID-19 pandemic, we find that Australian firms with environmentally sustainable practices generated higher abnormal returns. Firms with CEOs who were exposed to significant health risks from COVID-19 experienced poorer stock market performance. Firms with low pre-COVID default risk and high pre-COVID liquidity performed better during the COVID-19 stock market crash. This research signifies the importance of environmental sustainability for Australian firms to endure pandemics such as COVID-19.
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spelling pubmed-84284832021-09-10 Environmental stocks, CEO health risk and COVID-19 Fernández-Méndez, Carlos Pathan, Shams Res Int Bus Finance Article During the COVID-19 pandemic, we find that Australian firms with environmentally sustainable practices generated higher abnormal returns. Firms with CEOs who were exposed to significant health risks from COVID-19 experienced poorer stock market performance. Firms with low pre-COVID default risk and high pre-COVID liquidity performed better during the COVID-19 stock market crash. This research signifies the importance of environmental sustainability for Australian firms to endure pandemics such as COVID-19. Published by Elsevier B.V. 2022-01 2021-08-11 /pmc/articles/PMC8428483/ /pubmed/34522059 http://dx.doi.org/10.1016/j.ribaf.2021.101509 Text en © 2021 Published by Elsevier B.V. Since January 2020 Elsevier has created a COVID-19 resource centre with free information in English and Mandarin on the novel coronavirus COVID-19. The COVID-19 resource centre is hosted on Elsevier Connect, the company's public news and information website. Elsevier hereby grants permission to make all its COVID-19-related research that is available on the COVID-19 resource centre - including this research content - immediately available in PubMed Central and other publicly funded repositories, such as the WHO COVID database with rights for unrestricted research re-use and analyses in any form or by any means with acknowledgement of the original source. These permissions are granted for free by Elsevier for as long as the COVID-19 resource centre remains active.
spellingShingle Article
Fernández-Méndez, Carlos
Pathan, Shams
Environmental stocks, CEO health risk and COVID-19
title Environmental stocks, CEO health risk and COVID-19
title_full Environmental stocks, CEO health risk and COVID-19
title_fullStr Environmental stocks, CEO health risk and COVID-19
title_full_unstemmed Environmental stocks, CEO health risk and COVID-19
title_short Environmental stocks, CEO health risk and COVID-19
title_sort environmental stocks, ceo health risk and covid-19
topic Article
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8428483/
https://www.ncbi.nlm.nih.gov/pubmed/34522059
http://dx.doi.org/10.1016/j.ribaf.2021.101509
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