Special Issue "Sustainable Corporate Finance Research"

A special issue of Sustainability (ISSN 2071-1050). This special issue belongs to the section "Economic and Business Aspects of Sustainability".

Deadline for manuscript submissions: 31 October 2021.

Special Issue Editors

Prof. Dr. Thomas J. Walker
E-Mail Website
Guest Editor
Emerging Risks Information Center, Department of Finance, Concordia University, Montreal, QC H3G 1M8, Canada
Interests: risk management; corporate sustainability; responsible investing; climate finance; corporate governance; securities litigation and regulation; insider trading; venture capital
Prof. Dr. Jane McGaughey
E-Mail Website
Guest Editor
School of Irish Studies, Concordia University, Montreal, QC H3G 1M8, Canada
Interests: diaspora studies; sustainable governance; mass migration; political extremism

Special Issue Information

Dear Colleagues,

Sustainable corporate finance is a fast growing research area that aims to link sustainability considerations, such as environmental, social, and governance (ESG) factors with financial decision making processes. In particular, it explores how corporate finance concepts such as capital budgeting decision criteria, the weighted average cost of capital, the cost of debt, and the cost of equity – to name a few – can and should be adjusted when a firm considers not just the financial cash flows associated with a given project, but the true cost of the project that addresses potential future liabilities, asset stranding, operational disruptions as well as potential environmental and societal damages emanating from a firm’s investment decisions.

This Special Issue seeks contributions that offer groundbreaking insights in the area of green finance, responsible investing, responsible corporate governance, institutional monitoring, as well as related political issues, such as mandatory sustainability disclosures, emissions trading schemes, and the role of local and diasporic citizen involvement/activism.

The guest editors invite contributions from the international community of scholars and practitioners that work at the interface of finance, economics, investment management, community development, philanthropy, policymaking, and social entrepreneurship. In particular, the guest editors encourage contributions that are a) transdisciplinary in their approaches, b) incorporate new concepts or tools beyond the academic fields of finance, entrepreneurship, economics, and political science, c) move beyond optimizing and improving existing corporate finance tools and practices, d) present experimental approaches or concepts that are yet to be applied, and e) use case studies or comparative studies.

Prof. Dr. Thomas J. Walker
Prof. Dr. Jane McGaughey
Guest Editors

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All papers will be peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Sustainability is an international peer-reviewed open access semimonthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 1900 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

  • sustainable corporate governance
  • sustainable management
  • environmental, social, and governance (ESG) considerations in corporate leadership
  • green finance
  • stranded assets
  • green bonds
  • impact investing
  • sustainability reports
  • true project financing

Published Papers (2 papers)

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Research

Article
The Impact of Family Ownership on Quality and Disclosure of Internal Control in Pakistan
Sustainability 2021, 13(16), 8755; https://doi.org/10.3390/su13168755 - 05 Aug 2021
Viewed by 275
Abstract
The role of family owners in the internal control environment is characterized by contradictory theoretical arguments i.e., entrenchment and alignment behavior. Therefore, the objective of this study is to investigate the behavior exhibited by family owners concerning the internal control environment in an [...] Read more.
The role of family owners in the internal control environment is characterized by contradictory theoretical arguments i.e., entrenchment and alignment behavior. Therefore, the objective of this study is to investigate the behavior exhibited by family owners concerning the internal control environment in an underdeveloped regulatory setting. The study collected both primary and secondary data to use a multivariate regression research design to investigate the impact of family owners and CEOs on the internal control quality and disclosure of enterprises. The results of the current study demonstrated that family owners and family CEO have a negative impact on the internal control quality and disclosure, which validates the entrenchment behavior exhibited by family owners in the Pakistani setting. The results of the current study imply that policymakers should promote strict policy initiatives regarding the effectiveness of internal controls and their reporting so that companies are compelled to have better engagement in internal control practices for the protection of minority shareholders. Full article
(This article belongs to the Special Issue Sustainable Corporate Finance Research)
Article
Audit Quality under Influences of Audit Firm and Auditee Characteristics: Evidence from the Romanian Regulated Market
Sustainability 2021, 13(12), 6924; https://doi.org/10.3390/su13126924 - 19 Jun 2021
Cited by 1 | Viewed by 446
Abstract
We have estimated the impact of some characteristics of the auditors and of the audited companies on audit quality for the Romanian listed firms (943 observations for the 2007–2019 period), using as a proxy for the audit quality the level of discretionary accruals, [...] Read more.
We have estimated the impact of some characteristics of the auditors and of the audited companies on audit quality for the Romanian listed firms (943 observations for the 2007–2019 period), using as a proxy for the audit quality the level of discretionary accruals, measured following the Jones (1991) model, and the accruals quality, estimated through the Dechow and Dichey (2002) model. These dependent variables have been related to variables that reflect both the characteristics of the audit firm (for example, Big 4 membership) and the characteristics of the audited firms (dimension, financial leverage, accounting standards applied, growth and profitability). Our results show that the auditor’s Big 4 membership contributes to an increase in discretionary accruals, decreasing the quality of the audit. The transition to IFRS did not have a significant influence on the quality of the audit. The audit opinion may have an effect on the discretionary accruals and the accruals quality in the sense that a modified opinion leads to an increase in the quality of the audit in the following financial year(s). Full article
(This article belongs to the Special Issue Sustainable Corporate Finance Research)
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