Environmental stocks, CEO health risk and COVID-19

Carlos Fernández-Méndez and Shams Pathan

Research in International Business and Finance, 2022, vol. 59, issue C

Abstract: During the COVID-19 pandemic, we find that Australian firms with environmentally sustainable practices generated higher abnormal returns. Firms with CEOs who were exposed to significant health risks from COVID-19 experienced poorer stock market performance. Firms with low pre-COVID default risk and high pre-COVID liquidity performed better during the COVID-19 stock market crash. This research signifies the importance of environmental sustainability for Australian firms to endure pandemics such as COVID-19.

Keywords: Environmental sustainability; COVID-19; CEO health risk; Default risk (search for similar items in EconPapers)
JEL-codes: G30 G32 G34 G38 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:riibaf:v:59:y:2022:i:c:s0275531921001306

DOI: 10.1016/j.ribaf.2021.101509

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