scholarly journals ESG Disclosure and Portfolio Performance

Risks ◽  
2021 ◽  
Vol 9 (10) ◽  
pp. 172
Author(s):  
Ramón Bermejo Climent ◽  
Isabel Figuerola-Ferretti Garrigues ◽  
Ioannis Paraskevopoulos ◽  
Alvaro Santos

This paper illustrates the impact of Environmental Social and Governance (ESG) disclosure on European corporate equity performance. In this study, we use an extensive data set of European ESG ratings provided by Bloomberg to demonstrate that ESG disclosure is associated with improved return growth, with the Governance pillar exhibiting the strongest effect on corporate performance. The impact of ESG disclosure on volatility is changing over time, suggesting that the existence of opaque ratings limits the transmission of information disclosure into corporate performance.

2018 ◽  
Vol 59 (6) ◽  
pp. 1103-1111 ◽  
Author(s):  
Joukje C Swinkels ◽  
Marjolein I Broese van Groenou ◽  
Alice de Boer ◽  
Theo G van Tilburg

Abstract Background and Objectives The general view is that partner-caregiver burden increases over time but findings are inconsistent. Moreover, the pathways underlying caregiver burden may differ between men and women. This study examines to what degree and why partner-caregiver burden changes over time. It adopts Pearlin’s Caregiver Stress Process Model, as it is expected that higher primary and secondary stressors will increase burden and larger amounts of resources will lower burden. Yet, the impact of stressors and resources may change over time. The wear-and-tear model predicts an increase of burden due to a stronger impact of stressors and lower impact of resources over time. Alternatively, the adaptation model predicts a decrease of burden due to a lower impact of stressors and higher impact of resources over time. Research Design and Methods We used 2 observations with a 1-year interval of 279 male and 443 female partner-caregivers, derived from the Netherlands Older Persons and Informal Caregivers Survey Minimum Data Set. We applied multilevel regression analysis, stratified by gender. Results Adjusted for all predictors, caregiver burden increased over time for both men and women. For female caregivers, the impact of poor spousal health on burden increased and the impact of fulfillment decreased over time. Among male caregivers, the impact of predictors did not change over time. Discussion and Implications The increase of burden over time supports the wear-and-tear model, in particular for women. This study highlights the need for gender-specific interventions that are focused on enabling older partners to be better prepared for long-term partner-care.


Author(s):  
Benjamin Balsmeier ◽  
Achim Buchwald ◽  
Heiko Peters

SummaryMembers of management boards as well as supervisory boards often attract public criticism when they are simultaneously active in several other boards. We use a panel data set of the biggest German corporations for the period from 1996-2006 to estimate the impact of multiple board memberships of the CEO and the chairman of the supervisory board on corporate performance. The results suggest a positive and inverse U-shaped relation between the number of external supervisory board seats of the CEO and corporate performance. Chairmen of supervisory boards who simultaneously serve on external management boards tend to improve the performance of the controlled firm. Further external supervisory board seats of the chairman of a supervisory board do not seem to have any influence on corporate performance, though.


2017 ◽  
Vol 20 (3) ◽  
pp. 41-56 ◽  
Author(s):  
Foluso A. Akinsola ◽  
Nicholas M. Odhiambo

This paper surveys the existing literature on the relationship between inflation and economic growth in developed and developing countries, highlighting the theoretical and empirical indications. The study finds that the impact of inflation on economic growth varies from country to country and over time. The study also finds that the results from these studies depend on country‑specific characteristics, the data set used, and the methodology employed. On balance, the study finds overwhelming support in favour of a negative relationship between inflation and growth, especially in developed economies. However, there is still much controversy about the specific threshold level of inflation that is appropriate for growth. Most previous studies on this subject just assume a unidirectional causal relationsship between inflation and economic growth. To our knowledge, this may be the first review of its kind to survey, in detail, the existing research on the relationship between inflation and economic growth in developed and developing countries.


Author(s):  
Alyssa N De Vito ◽  
John P K Bernstein ◽  
Daniel Weitzner ◽  
Matthew Calamia ◽  
Jeffrey N Keller

Abstract Objective The current study investigated the differential impact cardiovascular risk factors (CVRFs) on Repeatable Battery for the Assessment of Neuropsychological Status (RBANS) performance in a large, cognitively healthy, older adult sample across 4 years. Method Participants were 486 individuals recruited through a longitudinal aging research study in the southeastern United States. Participants were 69.3% female, an average of 69.96 years old (SD = 6.58), 16.32 years of education (SD = 2.27), and Mini-Mental Status Exam score of 29.12 (SD = 1.16). Participants completed the RBANS at baseline and yearly thereafter, as well as the Uniform Data Set demographic and health questionnaires and the Geriatric Depression Scale. Results Multilevel modeling was conducted using standardized RBANS index scores. Overall, across indices, performance generally improved across time consistent with practice effects from repeated testing. Some CVRFs were associated with worse performance over time. For example, individuals with hypertension performed more poorly on immediate memory over time (t = −2.06, p < .05). Other CVRFs (e.g., BMI) were not associated with baseline performance or performance over time. (p > .05). Conclusions CVRFs differentially affect RBANS performance over time. These results extend previous cross-sectional findings regarding the impact of different cardiovascular health risks to a large, cognitively healthy, longitudinal sample.


2019 ◽  
Vol 8 (2) ◽  
pp. 56
Author(s):  
Maoguo Wu ◽  
Daimin Lu

In China, the agriculture, forestry, livestock farming, fishery (AFLF) industry is the basis of all industries. However, the overall development and performance level of listed companies in the AFLF industry is lower than the overall market level. According to previous literature, there is generally a positive impact of operational capabilities on the corporate performance of listed companies, but the impact on listed companies in the AFLF industry has not been investigated. This study attempts to fill in the gap by empirically analyzing the impact of operational capabilities on the corporate performance of listed companies in the AFLF industry in China. Based on a panel data set of 43 listed companies, this study performs regressions using a fixed effect model and a threshold panel model. The results show that there is a positive correlation between the operational capabilities and the corporate performance of listed companies in the AFLF industry, but different indicators that represent operational capabilities have different impacts on corporate performance. Based on the empirical results, this study puts forward corresponding suggestions for listed companies in the AFLF industry and policy makers.


2020 ◽  
Vol 20 (1) ◽  
Author(s):  
Franziska Mosler ◽  
Stefan Priebe ◽  
Victoria Bird

Abstract Aims The DIALOG scale has been implemented as a routine patient outcome and experience measure (PROM/PREM) in a mental health trust in East London since 2017. The resulting healthcare dataset was used to estimate satisfaction with life and treatment aspects over time and factors associated with it. Methods Variables available from the Trust were DIALOG items, service level, clinical and basic demographic data. Data was extracted in February 2019. Data is described using a range of descriptive statistics and looking at the subgroups: treatment stage, diagnosis, service type. Predictors for average DIALOG scores across patients was explored with clustered linear regression models. A fixed effect model was chosen to estimate the impact of clinical and service related variables on patient’s average DIALOG scores over time. Sensitivity analyses with the whole data set and complete cases were carried out. Results Of the original 18,481 DIALOG records 12, 592 were kept after data cleaning (5646 patients). The average DIALOG score was 4.8 (SD 1.0) on the 7-point scale. Average satisfaction with life aspects (PROM) was 4.65 (SD 1.1) and with treatment aspects (PREM) was 5.25 (SD 1.17). Across all 11 items, “job situation” scored lowest (mean 4.05) and “meetings with professionals” highest (mean 5.5). Satisfaction for all items increased over time (average increase 0.47). The largest increase was in “mental health” (0.94) and the smallest in “family relationships” (0.34). Conclusions Patients in mental healthcare services were “fairly satisfied” in both life and treatment aspects with improvements seen over time. These results will act as a benchmark for clinical services currently implementing DIALOG across the UK and inform local service developments.


2019 ◽  
Vol 13 (2) ◽  
pp. 281-297 ◽  
Author(s):  
Kayo Tajima

Purpose This study aims to analyze whether and how condominium shared utilities and facilities (e.g. community spaces), of which buyers assume a share of the ownership upon acquisition of a residential unit, affect the condominium unit price over time. Design/methodology/approach The transaction price of each unit reflects the quality of the residential unit and the properties of the shared facilities. Based on the hedonic pricing method, this study assesses the impact of shared amenities on unit resale prices, using an original data set on condominium unit resale transactions and the status of housing characteristics for both condominium units and condominium buildings. Findings Results show that holding other conditions constant, a meeting room and an external space that can host events increase the unit resale price by approximately 7 and 16 per cent, respectively. Some community amenities such as a meeting room may increase its impact later in the condominium’s lifetime. Research limitations/implications Because of the proprietary nature of data, the analysis focuses on high-end condominium properties in central Tokyo. Although it is difficult to single out the shared amenities’ effects on condominium resale prices from potentially confounding factors, this study partially overcomes this issue by including explanatory geographical variables (e.g. ground heights). Practical implications The results suggest that a shared facility that hosts social interactions among residents significantly affects the resale market value of housing units and that their magnitudes may change over time. Originality/value To the best of the author’s knowledge, this study provides the first empirical evidence of the impacts of shared structures on condominium unit sales using micro-level transaction data in Japan.


2022 ◽  
Author(s):  
Fei Huang ◽  
Ross Maller ◽  
Brandon Milholland ◽  
Xu Ning

Close analysis of an extensive data set combined with independent evidence prompts our proposal to view human lifetimes as individually finite but collectively unbounded. We formulate a model incorporating this idea whose predictions agree very well with the observed data. In the model, human lifetimes are theoretically unbounded, but the probability of an individual living to an extreme age is negligible, so lifetimes are effectively limited. Our model incorporates a mortality hazard rate plateau and a late-life mortality deceleration effect in conjunction with a newly observed advanced age mortality acceleration. This reconciles many previously observed effects. The model is temporally stable: consistent with observation, parameters do not change over time. As an application, assuming no major medical advances, we predict the emergence of many individuals living past 120, but due to accelerating mortality find it unlikely that any will subsequently survive to an age of 125.


2015 ◽  
Vol 3 (1) ◽  
pp. 1-180 ◽  
Author(s):  
Steven M Ariss ◽  
Pamela M Enderby ◽  
Tony Smith ◽  
Susan A Nancarrow ◽  
Mike J Bradburn ◽  
...  

Background and designThis research was based on a reanalysis of a merged data set from two intermediate care (IC) projects in order to identify patient characteristics associated with outcomes [Nancarrow SA, Enderby PM, Moran AM, Dixon S, Parker SG, Bradburn MJ,et al.The Relationship Between Workforce Flexibility and the Costs and Outcomes of Older Peoples’ Services (COOP). Southampton: National Institute for Health Research (NIHR) Service Delivery and Organisation (SDO); 2010 and Nancarrow SA, Enderby PM, Ariss SM, Smith T, Booth A, Campbell MJ,et al.The Impact of Enhancing the Effectiveness of Interdisciplinary Working (EEICC). Southampton: NIHR SDO; 2012]. Additionally, the impact of different team and staffing structures on patient outcomes and service costs was examined, when possible given the data sets, to enable identification of the most cost-effective service configurations and change over time with service provision. This secondary analysis was placed within updated literature reviews focused on the separate questions.Research objectives(1) To identify those patients most likely to benefit from IC and those who would be best placed to receive care elsewhere; (2) to examine the effectiveness of different models of IC; (3) to explore the differences between IC service configurations and how they have changed over time; and (4) to use the findings above to develop accessible evidence to guide service commissioning and monitoring.SettingCommunity-based services for older people are described in many different ways, among which are IC services and community rehabilitation. For the purposes of this report we call the services IC services and include all community-based provision for supporting older people who would otherwise be admitted to hospital or who would require increased length of stay in hospital (e.g. hospital at home schemes, post-acute care, step-up and step-down services).ParticipantsThe combined data set contained data on 8070 patient admissions from 32 IC teams across England and included details of the service context, costs, staffing/skill mix (800 staff), patient health status and outcomes.InterventionsThe interventions associated with the study cover the range of services and therapies available in IC settings. These are provided by a wide range of professionals and care staff, including nursing, allied health and social care.Outcome measures(1) Service data – each team provided information relating to the size, nature, staffing and resourcing of the services. Data were collected on a service pro forma. (2) Team data – all staff members of the teams participating in both studies provided individual information using the Workforce Dynamics Questionnaire. (3) Patient data – patient data were collected on admission and discharge using a client record pack. The client record pack recorded a range of data utilising a number of validated tools, such as demographic data, level of care (LoC) data, therapy outcome measure (TOM) scale, European Quality of Life-5 Dimensions (EQ-5D) questionnaire and patient satisfaction survey.Results(1) The provision of IC across England is highly variable with different referral routes, team structures, skill mix and cost-effectiveness; (2) in more recent years, patients referred to IC have more complex needs associated with more severe impairments; (3) patients most likely to improve were those requiring rehabilitation as determined by levels 3, 4 and 5 on the LoC (> 40% for impairment, activity and participation, and > 30% for well-being as determined on the TOM scale); (4) half of all patients with outcome data improved on at least one of the domains of the TOM scale; (5) for every 10-year increase in age there was a 6% decrease in the odds of returning home. The chance of remaining or returning home was greater for females than males; (6) a high percentage of patients referred to IC do not require the service; and (7) teams including clinical support staff and domiciliary staff were associated with a small relative improvement in TOM impairment scores when compared with other teams.ConclusionsThis study provides additional evidence that interdisciplinary teamworking in IC may be associated with better outcomes for patients, but care should be taken with overinterpretation. The measures that were used within the studies were found to be reliable, valid and practical and could be used for benchmarking. This study highlights the need for funding high-quality studies that attempt to examine what specific team-level factors are associated with better outcomes for patients. It is therefore important that studies in the future attempt empirically to examine what process-level team variables are associated with these outcomes.FundingThe NIHR Health Services and Delivery Research programme.


Author(s):  
Haifeng Zhang ◽  
Zhuo Zhang ◽  
Adrian Tan ◽  
Ekaterina Steklova

The purpose of this article is to promote an increase in the number of enterprises that will disclose corporate social responsibility (CSR) information, and to improve on their quality of CSR information disclosure. Using the theory of organizational ecology, we propose that the density of companies that disclose CSR information in a region has an impact on both the quality and the performance of CSR disclosures. The study results suggest that an increase in the density of CSR information disclosing enterprises in a region will increase the number of enterprises with disclosure intentions. A density increase has a nonlinear influence on the quality of CSR information disclosure and on corporate performance, where the influence of disclosing enterprises’ density on corporate performance is partly mediated by the quality of CSR information disclosure. Our research also shows that the impact of density change of disclosing enterprises on the quality of CSR information disclosure is mediated by corporate capital structure.


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