Business School External Research Seminar

Business School External Research Seminar
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This is a past event

There will be a BS external seminar on 24th November from 1500 – 1615 (1h talk & 15mins Q&A).

Hanwen Sun,  Lecturer of Corporate Finance at the University of Bath. Hanwen’s research interests mainly lie in the areas of corporate finance and corporate governance, with a special focus on the topics of insider trading, short selling, institutional investors, corporate innovation, and ESG issues. Her work has been published in a range of peer-reviewed ABS 4/3 journals, such as Journal of Corporate Finance and Journal of International Financial Markets, Institutions & Money. Her research project has been funded by the British Academy, as the principle investigator.

Title: Product Market Threats and Corporate ESG Performance”.

Abstract: We examine the role of product market threats in influencing corporate environmental, social and governance (ESG) performance. Notwithstanding the strategic view argues that ESG can help promote product differentiation, we find that product market threats, measured by product fluidity, are negatively related to corporate ESG manifestation. Our results suggest as the competitive pressure from the product market increases firms’ profit and objective uncertainty, firms tend to reduce their environment investment and expenditure. In addition, the negative effect is more pronounced among firms with financial constraints and overconfident CEOs. To address the endogeneity issue, we conduct a difference-in-differences estimation using the reduction in import tariffs as a quasi-natural experiment. Our findings offer new insights on how product market dynamics shape corporate ESG strategies.

Contact

For more details please contact Dr Yuan Yuan Zhao, y.zhao@abdn.ac.uk