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Faculty & Research

The Tangible Benefits of Environmental and Social Considerations

01 Apr
2022
2:00 pm
Jouy-en-Josas

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2022-04-01T14:00:00 2022-04-01T15:30:00 The Tangible Benefits of Environmental and Social Considerations Accounting and Management Control Speaker: Shiwon Song (INSEAD) Room T201   Jouy-en-Josas

Accounting and Management Control

Speaker: Shiwon Song (INSEAD)

Room T201

 

Abstract:

We investigate whether and how firms’ activities regarding Environmental and Social considerations (E&S) lead to better operating and market performance. We find that better E&S quality predicts enhanced operating performance for tangible-capital intensive firms, but not for intangible-capital intensive firms, and that such performance enhancements are driven by asset turnovers rather than profit margins. We also find that E&S’s ability to predict future stock returns of tangible-capital intensive firms disappears when controlling for future operating performance. Our findings suggest that the type of capital on which firms rely affects whether and how E&S contributes to shareholder wealth maximization.

Participate

Add to Calendar
2022-04-01T14:00:00 2022-04-01T15:30:00 The Tangible Benefits of Environmental and Social Considerations Accounting and Management Control Speaker: Shiwon Song (INSEAD) Room T201   Jouy-en-Josas