Has the risk of socially responsible investments (SRI) companies stocks changed in the COVID-19 period? International evidence

In this study, we investigate changes in risk of socially responsible investments (SRI) companies in the periods before and during the COVID-19 pandemic relying on a broad dataset covering SRI indices from 35 markets analyzed between 2016 and 2021. Our results provide evidence that the systematic ri...

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Autores principales: Brzeszczyński, Janusz, Gajdka, Jerzy, Pietraszewski, Piotr, Schabek, Tomasz
Formato: Online Artículo Texto
Lenguaje:English
Publicado: The Authors. Published by Elsevier Inc. 2022
Materias:
Article
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9464465/
https://www.ncbi.nlm.nih.gov/pubmed/36119917
http://dx.doi.org/10.1016/j.frl.2022.102986
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author Brzeszczyński, Janusz
Gajdka, Jerzy
Pietraszewski, Piotr
Schabek, Tomasz
author_facet Brzeszczyński, Janusz
Gajdka, Jerzy
Pietraszewski, Piotr
Schabek, Tomasz
author_sort Brzeszczyński, Janusz
collection PubMed
description In this study, we investigate changes in risk of socially responsible investments (SRI) companies in the periods before and during the COVID-19 pandemic relying on a broad dataset covering SRI indices from 35 markets analyzed between 2016 and 2021. Our results provide evidence that the systematic risk of the SRI firms, measured by the beta coefficient, increased in most countries around the world during the COVID-19 period. However, some markets in our sample show remarkable resilience and stability in terms of the changes in their risk patterns. In particular, the systematic risk of SRI companies from the markets in East Asia decreased during the COVID-19 pandemic, which contrasts with substantial increases in the systematic risk of the SRI firms from the SRI indices in all other regions around the world.
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spelling pubmed-94644652022-09-12 Has the risk of socially responsible investments (SRI) companies stocks changed in the COVID-19 period? International evidence Brzeszczyński, Janusz Gajdka, Jerzy Pietraszewski, Piotr Schabek, Tomasz Financ Res Lett Article In this study, we investigate changes in risk of socially responsible investments (SRI) companies in the periods before and during the COVID-19 pandemic relying on a broad dataset covering SRI indices from 35 markets analyzed between 2016 and 2021. Our results provide evidence that the systematic risk of the SRI firms, measured by the beta coefficient, increased in most countries around the world during the COVID-19 period. However, some markets in our sample show remarkable resilience and stability in terms of the changes in their risk patterns. In particular, the systematic risk of SRI companies from the markets in East Asia decreased during the COVID-19 pandemic, which contrasts with substantial increases in the systematic risk of the SRI firms from the SRI indices in all other regions around the world. The Authors. Published by Elsevier Inc. 2022-10 2022-05-19 /pmc/articles/PMC9464465/ /pubmed/36119917 http://dx.doi.org/10.1016/j.frl.2022.102986 Text en © 2022 The Authors 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
Brzeszczyński, Janusz
Gajdka, Jerzy
Pietraszewski, Piotr
Schabek, Tomasz
Has the risk of socially responsible investments (SRI) companies stocks changed in the COVID-19 period? International evidence
title Has the risk of socially responsible investments (SRI) companies stocks changed in the COVID-19 period? International evidence
title_full Has the risk of socially responsible investments (SRI) companies stocks changed in the COVID-19 period? International evidence
title_fullStr Has the risk of socially responsible investments (SRI) companies stocks changed in the COVID-19 period? International evidence
title_full_unstemmed Has the risk of socially responsible investments (SRI) companies stocks changed in the COVID-19 period? International evidence
title_short Has the risk of socially responsible investments (SRI) companies stocks changed in the COVID-19 period? International evidence
title_sort has the risk of socially responsible investments (sri) companies stocks changed in the covid-19 period? international evidence
topic Article
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9464465/
https://www.ncbi.nlm.nih.gov/pubmed/36119917
http://dx.doi.org/10.1016/j.frl.2022.102986
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