Breaking Bad News: The Market Impact of ESG Controversies in Finance (notice n° 1755584)
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|---|---|
| fixed length control field | 02021cam a2200229 4500500 |
| 005 - DATE AND TIME OF LATEST TRANSACTION | |
| control field | 20260322010319.0 |
| 041 ## - LANGUAGE CODE | |
| Language code of text/sound track or separate title | fre |
| 042 ## - AUTHENTICATION CODE | |
| Authentication code | dc |
| 100 10 - MAIN ENTRY--PERSONAL NAME | |
| Personal name | Fouquau, Julien |
| Relator term | author |
| 245 00 - TITLE STATEMENT | |
| Title | Breaking Bad News: The Market Impact of ESG Controversies in Finance |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. | |
| Date of publication, distribution, etc. | 2026.<br/> |
| 500 ## - GENERAL NOTE | |
| General note | 14 |
| 520 ## - SUMMARY, ETC. | |
| Summary, etc. | This paper analyzes how daily stock returns respond to Environmental, Social, and Governance (ESG) controversy coverage at the firm level in news and social media using time-series analysis. Our sample comprises all 73 financial firms in the S&P 500 from January 1, 2010, to December 31, 2024. Our results show that controversies negatively affect financial firms’ stock returns. Social and governance controversies exert stronger negative effects than environmental ones. Banks experience larger controversy-related stock declines than other financial institutions, reflecting greater public scrutiny and regulatory exposure. In robustness checks, we find that the negative effects of ESG controversies on stock returns persist across different periods (2010 – 2024, 2015 – 2024, and 2020 – 2024) and hold in panel analyses accounting for industry effects within financial institutions. These findings highlight the financial materiality of ESG risks and the importance for investors and regulators to monitor firms’ exposure to social and governance-related controversies closely. The results also suggest that financial institutions, particularly banks, should proactively manage reputational risks to maintain investor confidence. Classification JEL G12 G14 G21 G23 |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | asset pricing |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | banks and asset managers |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | behavioral finance |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | ESG controversies |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | media sentiment |
| 700 10 - ADDED ENTRY--PERSONAL NAME | |
| Personal name | Schoder, André |
| Relator term | author |
| 786 0# - DATA SOURCE ENTRY | |
| Note | Bankers, Markets & Investors | 182 | 3 | 2026-02-17 | p. 5-28 | 2101-9304 |
| 856 41 - ELECTRONIC LOCATION AND ACCESS | |
| Uniform Resource Identifier | <a href="https://shs.cairn.info/revue-bankers-markets-investors-2026-1-page-5?lang=en&redirect-ssocas=7080">https://shs.cairn.info/revue-bankers-markets-investors-2026-1-page-5?lang=en&redirect-ssocas=7080</a> |
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