Special Issue "Banking, Corporate Finance and Sustainability"

A special issue of Sustainability (ISSN 2071-1050).

Deadline for manuscript submissions: 31 August 2021.

Special Issue Editor

Prof. Dr. Kwangwoo Park
E-Mail Website
Guest Editor
Graduate School of Finance, Korea Advanced Institute of Science and Technology, Seoul, Korea
Interests: banking; corporate finance; sustainable finance; fintech

Special Issue Information

Dear Colleagues,

This Special Issue will bring highlight issues on sustainability related to banking and corporate finance across the globe. The issue of climate change and the environment has emerged as one of the most important factors for managerial decision-making in recent years. In banking and corporate finance practices, corporate environmental responsibility (CER) has become a crucial part of managerial concerns for firms around the world in addition to examining diverse aspects of corporate social responsibility (CSR). CSR and CER have become widely documented in management literature over the past three decades, but only recently the issues have gained significant attention in finance academia, especially in banking and corporate finance.

This Special Issue is devoted to empirical and theoretical banking and corporate finance studies of sustainability issues, both positive and normative. The Special Issue will also focus on understanding the role of CEOs and boards of directors, financial institutions, institutional investors, and financial markets in the context of sustainability. While submissions from a wide range of perspectives are welcome, special interest is given to the effect of ESG (environmental, social, and governance) issues and environmental management on firm risk and valuation, and international comparisons of institutional, legal (especially contractual), and market structures that foster ESG activities and the consequences around the world.

Prof. Dr. Kwangwoo Park
Guest Editor

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

  • corporate social responsibility (CSR)
  • corporate environmental responsibility (CER)
  • ESG (environmental, social, and governance)
  • environmental management
  • firm performance
  • firm risk
  • climate finance
  • green finance
  • sustainable finance

Published Papers (3 papers)

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Research

Article
Impact of Environmental Disaster Movies on Corporate Environmental and Financial Performance
Sustainability 2021, 13(2), 559; https://doi.org/10.3390/su13020559 - 08 Jan 2021
Cited by 1 | Viewed by 773
Abstract
Using a unique United States box office data set, we investigate the impact of environmental sentiment on corporate environmental and financial performance of the United States listed firms. The influence of mass media on public and investor sentiments is well documented in the [...] Read more.
Using a unique United States box office data set, we investigate the impact of environmental sentiment on corporate environmental and financial performance of the United States listed firms. The influence of mass media on public and investor sentiments is well documented in the existing literature. However, little is known about the effect of movies, although they may influence the public more than other mass media because people, regardless of age and gender, enjoy watching movies. Using the event study methodology and multivariable regression analysis, we show that the release of anthropogenic environmental disaster movie(s) creates environmental sentiment and influences corporate behaviors. Specifically, firms significantly increase their environmental performance in the subsequent year of strong environmental sentiment after the release of environmental movies. More importantly, the positive effect of corporate environmental performance on financial performance is stronger when the environmental sentiment is stronger. Full article
(This article belongs to the Special Issue Banking, Corporate Finance and Sustainability)
Article
Environmental Regulation and Financial Performance in China: An Integrated View of the Porter Hypothesis and Institutional Theory
Sustainability 2020, 12(23), 10183; https://doi.org/10.3390/su122310183 - 06 Dec 2020
Cited by 1 | Viewed by 712
Abstract
The link between environmental regulations and financial performance has long been studied, but whether command and control environmental regulation or voluntary instruments induce better results is an unsettled question. By drawing on the Porter Hypothesis, this paper examines whether both approaches to environmental [...] Read more.
The link between environmental regulations and financial performance has long been studied, but whether command and control environmental regulation or voluntary instruments induce better results is an unsettled question. By drawing on the Porter Hypothesis, this paper examines whether both approaches to environmental protection boost forms of environmental protection regulations that have positive impacts on financial performance. By integrating institutional theory, this study also examines whether ownership structures moderate the relationship between environmental regulation and financial performance. The results from data on 183 firms listed on the Shanghai and Shenzhen Stock Exchanges confirmed that both command and control environmental regulation and voluntary instruments positively affect financial performance. This paper also found that ownership structure strengthens the relationship between command and control environmental regulation and financial performance. The findings enrich the Porter Hypothesis and contribute to environmental research by revealing that properly designed environmental regulations have positive impacts on financial performance. By drawing on institutional theory, this study further contributes to business and management studies by confirming that the specific moderator, China’s state-owned enterprises, is a crucial contributor in achieving robust financial results. Full article
(This article belongs to the Special Issue Banking, Corporate Finance and Sustainability)
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Article
Approaching Monetary Integration in the Context of the Imperative to Ensure the Sustainable Growth in the EU
Sustainability 2020, 12(17), 7065; https://doi.org/10.3390/su12177065 - 30 Aug 2020
Viewed by 675
Abstract
Sustainable economic growth is an essential objective at the European Union level. The purpose of this paper is to investigate the impact of monetary integration on economic growth, assuming that the introduction of the euro significantly stimulated the process of European financial integration. [...] Read more.
Sustainable economic growth is an essential objective at the European Union level. The purpose of this paper is to investigate the impact of monetary integration on economic growth, assuming that the introduction of the euro significantly stimulated the process of European financial integration. We used a fixed-effects methodology for panel data for the EU 28 countries for the period 2004–2018. We find that the main factors through which monetary integration contributessignificantly and positively to economic growth areeconomic growth Single Euro Payments Area (SEPA)cards, trade, monetary freedom, convergence of interest rates, convergence of exchange rates and cross-border holdings of short-term debt, with significant differences between Eurozone and non-euro countries, which confirms the hypothesis that the introduction of the euro had a significant impact on economic and financial integration. Full article
(This article belongs to the Special Issue Banking, Corporate Finance and Sustainability)
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