Results 61 to 70 of about 1,026,011 (234)
Business Strategy and the Environment, EarlyView.ABSTRACT This study examines the impact of executive compensation (EC) and corporate circular economy performance incentives (CCEPI) on corporate circular economy initiatives (CCEI) and corporate circular economy performance (CCEP) by integrating legitimacy theory and the resource‐based view.
Emmanuel A. Morrison +2 more
wiley +1 more source
Corporate Climate Risk and Membership of Emission Trading Schemes
Business Strategy and the Environment, EarlyView.ABSTRACT Using a sample of 5364 firms from 65 countries, we demonstrate that membership in the scheme increases firm climate risk. Further analysis reveals that the positive impact of membership on climate risk is pronounced among firms in carbon‐intensive industries. Our findings demonstrate that continental differences and legal origin could moderate
Gbenga Adamolekun +4 more
wiley +1 more source
Macroscopic theorem of the portfolio optimization problem with a risk-free asset [PDF]
arXiv, 2019 The investment risk minimization problem with budget and return constraints has been the subject of research using replica analysis but there are shortcomings in the extant literature. With respect to Tobin's separation theorem and the capital asset pricing model, it is necessary to investigate the implications of a risk-free asset and examine its ...
arxiv
Business Strategy and the Environment, EarlyView.ABSTRACT This study examined how Bitcoin, energy prices, and geopolitical risk interact by examining the first four moments (mean, variance, skewness, and kurtosis) of their return distributions by using wavelet analysis. The findings reveal that the co‐movement patterns of energy index, geopolitical risk index, and Bitcoin prices are time and ...
Pooja Kumari +4 more
wiley +1 more source
A two-Factor Asset Pricing Model and the Fat Tail Distribution of Firm Sizes [PDF]
arXiv, 2007 In the standard equilibrium and/or arbitrage pricing framework, the value of any asset is uniquely specified from the belief that only the systematic risks need to be remunerated by the market. Here, we show that, even for arbitrary large economies when the distribution of the capitalization of firms is sufficiently heavy-tailed as is the case of real ...
arxiv
Unpacking the Renewable Pull Effect: Conditions for Green Industrial Relocation
Business Strategy and the Environment, EarlyView.ABSTRACT The renewable pull effect theoretically leads to the relocation of green production facilities within energy‐intensive industries to regions rich in renewable energy resources. This study employs a qualitative research design, integrating the analytic hierarchy process method, by interviewing top managers and experts from globally leading ...
Sven Colen, Alwine Mohnen
wiley +1 more source
An Asymmetric Capital Asset Pricing Model [PDF]
arXivProviding a measure of market risk is an important issue for investors and financial institutions. However, the existing models for this purpose are per definition symmetric. The current paper introduces an asymmetric capital asset pricing model for measurement of the market risk.
arxiv
A probability-free and continuous-time explanation of the equity premium and CAPM [PDF]
arXiv, 2016 This paper gives yet another definition of game-theoretic probability in the context of continuous-time idealized financial markets. Without making any probabilistic assumptions (but assuming positive and continuous price paths), we obtain a simple expression for the equity premium and derive a version of the capital asset pricing model.
arxiv
Does National Culture Drive the Value Relevance of Nonfinancial Disclosure?
Business Strategy and the Environment, EarlyView.ABSTRACT The aim of this paper is to investigate the association between national culture and the value relevance of nonfinancial disclosure provided by listed firms in Germany, Spain, France, and Italy from 2018 to 2023. The results of Hierarchical Linear Model regressions show that, in countries where the national culture is characterized by greater ...
Raffaela Casciello +2 more
wiley +1 more source
The Effects of Leverage Requirements and Fire Sales on Financial Contagion via Asset Liquidation Strategies in Financial Networks [PDF]
arXiv, 2015 This paper provides a framework for modeling the financial system with multiple illiquid assets when liquidation of illiquid assets is caused by failure to meet a leverage requirement. This extends the network model of Cifuentes, Shin & Ferrucci (2005) which incorporates a single asset with fire sales and capital adequacy ratio.
arxiv