Social responsibility and bank resiliency

Thomas Gehrig, Maria Chiara Iannino and Stephan Unger

Journal of Financial Stability, 2024, vol. 70, issue C

Abstract: We find strong evidence that measures of social responsibility contribute to increasing the resilience of banks. This finding holds when social responsibility is measured by aggregated ESG scores provided by Thomson Reuters, both according to their older Asset 4 categorization and to the reformed ESG Refinitiv classification, and resilience is proxied by various measures of systemic and systematic risk. The results hold on the level of subcategories of the ESG pillars, where we find that, particularly, variables related to the long-term perspective enhance resilience. Moreover, in our international study, we find significant transatlantic differences.

Keywords: ESG scores; Systemic risk; Bank resiliency; Financial stability; Capital shortfall; Sustainable banking (search for similar items in EconPapers)
JEL-codes: G12 G21 G24 M14 (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S1572308923000918
Full text for ScienceDirect subscribers only

Related works:
Working Paper: Social Responsibility and Bank Resiliency (2021)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:finsta:v:70:y:2024:i:c:s1572308923000918

DOI: 10.1016/j.jfs.2023.101191

Access Statistics for this article

Journal of Financial Stability is currently edited by I. Hasan, W. C. Hunter and G. G. Kaufman

More articles in Journal of Financial Stability from Elsevier
Bibliographic data for series maintained by Catherine Liu ().