The DOI matches its Crossref record; 9 of the 9 references it cites were found in a registry or an index.
Sustainable development and corporate governance in the financial system: Are environmentally friendly banks less risky?
Abstract
This paper responds to the need for a deeper empirical investigation of the impact of corporate social responsibility pillars on the financial performance of banks. To address this question, this study first analyzes the factors that encourage banks to be more environmentally friendly and then investigates the relationship between a bank's environmental engagement and its risk. Using a sample of 142 banks from 35 countries covering the period from 2011 to 2015, we document the positive impact of effective corporate governance mechanisms on banks' environmental engagement. Moreover, by using the Heckman's two‐stage model for the treatment of sample selection bias, we find that banks that are more sensitive to environmental issues also exhibit less risk. Stakeholder theory and the conflict resolution hypothesis are useful frameworks to overcome the trade‐off between economy and ecology in the banking industry.
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Cites
Sample Selection Bias as a Specification Error
Heckman, J. J. (1979) · Econometrica · doi:10.2307/1912352 · Cited by 28,779
A Survey of Corporate Governance
Shleifer, A., & Vishny, R. W. (1997) · The Journal of Finance · doi:10.1111/j.1540-6261.1997.tb04820.x · Cited by 16,243
Toward a New Conception of the Environment-Competitiveness Relationship
Porter, M. E., & Linde, C. V. D. (1995) · Journal of Economic Perspectives · doi:10.1257/jep.9.4.97 · Cited by 13,365
The Social Responsibility of Business Is to Increase Its Profits
Friedman, M. (2007) · Corporate Ethics and Corporate Governance · doi:10.1007/978-3-540-70818-6_14 · Cited by 11,529
Social Capital: Prospects for a New Concept
Adler, P. S., & Kwon, S.-W. (2002) · The Academy of Management Review · doi:10.2307/4134367 · Cited by 9,665
How corporate social responsibility is defined: an analysis of 37 definitions
Dahlsrud, A. (2008) · Corporate Social Responsibility and Environmental Management · doi:10.1002/csr.132 · Cited by 4,092
Does corporate social responsibility affect the cost of capital?
El Ghoul, S., Guedhami, O., Kwok, C. C. Y., & Mishra, D. R. (2011) · Journal of Banking & Finance · doi:10.1016/j.jbankfin.2011.02.007 · Cited by 3,465
The impact of corporate social responsibility on the cost of bank loans
Goss, A., & Roberts, G. S. (2011) · Journal of Banking & Finance · doi:10.1016/j.jbankfin.2010.12.002 · Cited by 2,101
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Cited by
Composition and Activity of the Board of Directors: Impact on ESG Performance in the Banking System
Birindelli, G., Dell’Atti, S., Iannuzzi, A. P., & Savioli, M. (2018) · Sustainability · doi:10.3390/su10124699 · Cited by 459
Bătae, O. M., Dragomir, V. D., & Feleagă, L. (2021) · Journal of Cleaner Production · doi:10.1016/j.jclepro.2021.125791 · Cited by 432
Do ESG strategies enhance bank stability during financial turmoil? Evidence from Europe
Chiaramonte, L., Dreassi, A., Girardone, C., & Piserà, S. (2022) · The European Journal of Finance · doi:10.1080/1351847x.2021.1964556 · Cited by 389
Khatib, S. F. A., Abdullah, D. F., Elamer, A. A., & Abueid, R. (2021) · Business Strategy and the Environment · doi:10.1002/bse.2665 · Cited by 322
Metadata
- Authors
- Gangi, F., Meles, A., D'Angelo, E., & Daniele, L. M.
- Venue
- Corporate Social Responsibility and Environmental Management
- Publisher
- Wiley
- Published
- 2018-11-12
- Volume
- 26
- Issue
- 3
- Pages
- 529-547
- ISSN
- 1535-3958 (ISSN-L)
- 1535-3966
- OpenAlex
- W2901334517
- Cited by
- 331
- References
- 9
- FWCI
- 20.53
- Type
- journal article
- Language
- en
- Open access
- closed
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Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
