Details about Bert Scholtens

Homepage:	https://www.rug.nl/staff/l.j.r.scholtens/
Phone:	+31503637064
Postal address:	Bert Scholtens Department of Economics, Econometrics and Finance PO Box 800 9700 AV Groningen The Netherlands
Workplace:	Faculteit Economie en Bedrijfskunde (Faculty of Economics and Business), Rijksuniversiteit Groningen (Royal University of Groningen), (more information at EDIRC) SOM Research Institute, Faculteit Economie en Bedrijfskunde (Faculty of Economics and Business), Rijksuniversiteit Groningen (Royal University of Groningen), (more information at EDIRC) School of Management, University of St. Andrews, (more information at EDIRC)

Access statistics for papers by Bert Scholtens.

Last updated 2024-06-07. Update your information in the RePEc Author Service.

Short-id: psc225

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Working Papers

2022

1. Is the Global Carbon Market Integrated? Return and Volatility Connectedness in ETS Systems
   Working Papers, Copenhagen Business School, Department of Economics View citations (1)

2021

2. Shareholders and the environment: a review of four decades of academic research
   Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers), HAL View citations (6)
   Also in Post-Print, HAL (2021) View citations (2)

2019

3. Sovereign bond yield spreads and sustainability: An empirical analysis of OECD countries
   (Écarts de rendement des obligations souveraines et durabilité: une analyse empirique des pays de l’OCDE)
   Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers), HAL View citations (51)
   Also in Post-Print, HAL (2019) View citations (46)
   See also Journal Article Sovereign bond yield spreads and sustainability: An empirical analysis of OECD countries, Journal of Banking & Finance, Elsevier (2019) View citations (46) (2019)

2018

4. Environmental, Social and Governance (ESG) performance and sovereign bond spreads: an empirical analysis of OECD countries
   Post-Print, HAL
   Also in EconomiX Working Papers, University of Paris Nanterre, EconomiX (2017) View citations (3)
   Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers), HAL (2018)
   Working Papers, HAL (2016) View citations (4)
   Working Papers, HAL (2017)
   Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers), HAL (2016) View citations (4)

2017

5. Divesting Fossil Fuels
   Research Report, University of Groningen, Research Institute SOM (Systems, Organisations and Management) View citations (4)
6. Divesting Fossil Fuels: The Implications for Investment Portfolios
   MPRA Paper, University Library of Munich, Germany View citations (6)
7. Greenhouse Gas Emissions Intensity and the Cost of Capital
   Research Report, University of Groningen, Research Institute SOM (Systems, Organisations and Management) View citations (3)

2016

8. The financial impact of divestment from fossil fuels
   Research Report, University of Groningen, Research Institute SOM (Systems, Organisations and Management) View citations (3)

2015

9. Analyzing Systemic Risk in the Chinese Banking System
   CESifo Working Paper Series, CESifo View citations (5)
   See also Journal Article Analysing Systemic Risk in the Chinese Banking System, Pacific Economic Review, Wiley Blackwell (2019) View citations (23) (2019)
10. How does the development of the financial industry advance renewable energy? A panel regression study of 198 countries over three decades
    VfS Annual Conference 2015 (Muenster): Economic Development - Theory and Policy, Verein für Socialpolitik / German Economic Association
11. Impact of Interbank Liquidity on Monetary Transmission Mechanism: A Case Study of Pakistan
    Working Papers, eSocialSciences
    Also in SBP Working Paper Series, State Bank of Pakistan, Research Department (2014)
    MPRA Paper, University Library of Munich, Germany (2014)

2014

12. An Empirical Analysis of Excess Interbank Liquidity: A Case Study of Pakistan
    SBP Working Paper Series, State Bank of Pakistan, Research Department View citations (1)
    Also in MPRA Paper, University Library of Munich, Germany (2014) View citations (1)
    See also Journal Article An empirical analysis of excess interbank liquidity: a case study of Pakistan, Applied Economics, Taylor & Francis Journals (2015) View citations (1) (2015)
13. Cross-border spillovers from European gas infrastructure investment
    Research Report, University of Groningen, Research Institute SOM (Systems, Organisations and Management)
14. The Effects of Corporate and Country Sustainability Characteristics on the Cost of Debt: An International Investigation
    ICMA Centre Discussion Papers in Finance, Henley Business School, University of Reading View citations (1)
    Also in ZEW Discussion Papers, ZEW - Leibniz Centre for European Economic Research (2014) View citations (1)
    See also Journal Article The Effects of Corporate and Country Sustainability Characteristics on The Cost of Debt: An International Investigation, Journal of Business Finance & Accounting, Wiley Blackwell (2016) View citations (82) (2016)

2013

15. Does Uncovered Interest Rate Parity Hold After All?
    SBP Working Paper Series, State Bank of Pakistan, Research Department View citations (1)
    Also in MPRA Paper, University Library of Munich, Germany (2013) View citations (2)
    See also Journal Article Does Uncovered Interest Rate Parity Hold After All?, Lahore Journal of Economics, Department of Economics, The Lahore School of Economics (2019) (2019)

2012

16. Testing Uncovered Interest Rate Parity Using LIBOR
    CESifo Working Paper Series, CESifo View citations (2)
    See also Journal Article Testing uncovered interest rate parity using LIBOR, Applied Economics, Taylor & Francis Journals (2014) View citations (3) (2014)

2011

17. Is the concept of a green economy a useful way of framing policy discussions and policymaking to promote sustainable development?
    Post-Print, HAL
    See also Journal Article Is the concept of a green economy a useful way of framing policy discussions and policymaking to promote sustainable development?, Natural Resources Forum, Blackwell Publishing (2011) (2011)

2009

18. Growth and Earnings Persistence in Banking Firms: A Dynamic Panel Investigation
    CESifo Working Paper Series, CESifo View citations (10)

2004

19. Financial development and the transmission of monetary shocks
    Research Report, University of Groningen, Research Institute SOM (Systems, Organisations and Management) View citations (4)

2003

20. How Important are Foreign Banks in the Financial Development of European Transition Countries?
    CESifo Working Paper Series, CESifo View citations (15)
    See also Journal Article How Important are Foreign Banks in the Financial Development of European Transition Countries?, Journal of Emerging Market Finance, Institute for Financial Management and Research (2004) View citations (7) (2004)
21. Joint default probabilities and country risk
    Research Report, University of Groningen, Research Institute SOM (Systems, Organisations and Management)

2002

22. Exposure to socially responsible investing of mutual funds in the Euronext stock markets
    Research Report, University of Groningen, Research Institute SOM (Systems, Organisations and Management) View citations (3)
23. How Important Are Foreign Banks in European Transition Countries? A Comparative Analysis
    International Finance, University Library of Munich, Germany View citations (1)

2001

24. Are internet firms different?: evidence from insider trading
    Research Report, University of Groningen, Research Institute SOM (Systems, Organisations and Management)
25. Greenlining: economic and environmental effects of government facilitated lending to sustainable economic activities in the Netherlands
    Research Report, University of Groningen, Research Institute SOM (Systems, Organisations and Management) View citations (2)
26. Socially responsible investing and management style of mutual funds in the euronext stock markets
    Research Report, University of Groningen, Research Institute SOM (Systems, Organisations and Management) View citations (13)

2000

27. Competition, Growth, and Performance in the Banking Industry
    Center for Financial Institutions Working Papers, Wharton School Center for Financial Institutions, University of Pennsylvania View citations (11)

Journal Articles

2024

1. Integration of the international carbon market: A time-varying analysis
   Renewable and Sustainable Energy Reviews, 2024, 191, (C) View citations (1)

2023

2. Competition and bank dividends
   Journal of International Money and Finance, 2023, 137, (C) View citations (1)

2022

3. Carbon Intensity and the Cost of Equity Capital
   The Energy Journal, 2022, Volume 43, (Number 2) View citations (10)
   Also in The Energy Journal, 2022, 43, (2), 181-214 (2022) View citations (1)
4. External carbon costs and internal carbon pricing
   Renewable and Sustainable Energy Reviews, 2022, 168, (C) View citations (3)
5. Unlocking the unsustainable rice-wheat system of Indian Punjab: Assessing alternatives to crop-residue burning from a systems perspective
   Ecological Economics, 2022, 195, (C) View citations (3)

2021

6. Impact investments: a call for (re)orientation
   SN Business & Economics, 2021, 1, (2), 1-13 View citations (8)
7. Movers and Shakers: Stock Market Response to Induced Seismicity in Oil and Gas Business
   Energies, 2021, 14, (23), 1-12
8. The financial impact of fossil fuel divestment
   Climate Policy, 2021, 21, (1), 107-119 View citations (23)

2020

9. An Efficiency Perspective on Carbon Emissions and Financial Performance
   Ecological Economics, 2020, 175, (C) View citations (51)
10. Deposit insurance and bank dividend policy
    Journal of Financial Stability, 2020, 48, (C) View citations (4)
11. Does bank capitalization matter for bank stock returns?
    The North American Journal of Economics and Finance, 2020, 52, (C) View citations (3)
12. Shocks and fish stocks: The effect of disasters and policy announcements on listed fishing companies' market value
    Business Strategy and the Environment, 2020, 29, (8), 3636-3668
13. Under his thumb the effect of president Donald Trump’s Twitter messages on the US stock market
    PLOS ONE, 2020, 15, (3), 1-11 View citations (5)

2019

14. Accounting and accountability in the Anthropocene
    Accounting, Auditing & Accountability Journal, 2019, 33, (1), 152-177 View citations (8)
15. Analysing Systemic Risk in the Chinese Banking System
    Pacific Economic Review, 2019, 24, (2), 348-372 View citations (23)
    See also Working Paper Analyzing Systemic Risk in the Chinese Banking System, CESifo Working Paper Series (2015) View citations (5) (2015)
16. Does Uncovered Interest Rate Parity Hold After All?
    Lahore Journal of Economics, 2019, 24, (2), 49-72
    See also Working Paper Does Uncovered Interest Rate Parity Hold After All?, SBP Working Paper Series (2013) View citations (1) (2013)
17. Responsibility and Performance Relationship in the Banking Industry
    Sustainability, 2019, 11, (12), 1-49 View citations (4)
18. Sovereign bond yield spreads and sustainability: An empirical analysis of OECD countries
    Journal of Banking & Finance, 2019, 98, (C), 156-169 View citations (46)
    See also Working Paper Sovereign bond yield spreads and sustainability: An empirical analysis of OECD countries, Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) (2019) View citations (51) (2019)
19. Sudden stops of international fund flows: Occurrence and magnitude
    Review of International Economics, 2019, 27, (1), 468-497 View citations (11)
20. Sustainability and bank risk
    Palgrave Communications, 2019, 5, (1), 1-8 View citations (17)

2018

21. Are International Fund Flows Related to Exchange Rate Dynamics?
    Open Economies Review, 2018, 29, (1), 31-48 View citations (1)
22. Correction to: The Opportunity Cost of Negative Screening in Socially Responsible Investing
    Journal of Business Ethics, 2018, 147, (1), 239-240 View citations (1)
23. Cyclical behavior of international fund flows
    Research in International Business and Finance, 2018, 43, (C), 99-112
24. Fossil Fuel Divestment and Portfolio Performance
    Ecological Economics, 2018, 146, (C), 740-748 View citations (55)
25. Surges of international fund flows
    Journal of International Money and Finance, 2018, 82, (C), 97-119 View citations (14)
26. The urge to act: A comparison of active and passive socially responsible investment funds in the United States
    Corporate Social Responsibility and Environmental Management, 2018, 25, (6), 1154-1173 View citations (10)

2017

27. Corporate Social Responsibility and Shareholder Proposals
    Corporate Social Responsibility and Environmental Management, 2017, 24, (6), 648-660 View citations (17)
28. Cross-border investment expenditure spillovers in European gas infrastructure
    Energy Policy, 2017, 107, (C), 371-380 View citations (1)
29. Environmental and Financial Performance of Fossil Fuel Firms: A Closer Inspection of their Interaction
    Ecological Economics, 2017, 132, (C), 307-328 View citations (58)
30. European Pension Funds and Sustainable Development: Trade‐Offs between Finance and Responsibility
    Business Strategy and the Environment, 2017, 26, (7), 912-926 View citations (6)
31. Firm Type, Feed-in Tariff, and Wind Energy Investment in Germany: An Investigation of Decision Making Factors of Energy Producers Regarding Investing in Wind Energy Capacity
    Journal of Industrial Ecology, 2017, 21, (2), 402-411 View citations (4)
32. The Opportunity Cost of Negative Screening in Socially Responsible Investing
    Journal of Business Ethics, 2017, 140, (2), 193-208 View citations (48)

2016

33. A comparison of cost-benefit analysis of biomass and natural gas CHP projects in Denmark and the Netherlands
    Renewable Energy, 2016, 86, (C), 1095-1102 View citations (5)
34. A plant-level analysis of the spill-over effects of the German Energiewende
    Applied Energy, 2016, 183, (C), 1259-1271 View citations (4)
35. ESG Integration and the Investment Management Process: Fundamental Investing Reinvented
    Journal of Business Ethics, 2016, 138, (3), 525-533 View citations (117)
36. The Effects of Corporate and Country Sustainability Characteristics on The Cost of Debt: An International Investigation
    Journal of Business Finance & Accounting, 2016, 43, (1-2), 158-190 View citations (82)
    See also Working Paper The Effects of Corporate and Country Sustainability Characteristics on the Cost of Debt: An International Investigation, ICMA Centre Discussion Papers in Finance (2014) View citations (1) (2014)

2015

37. An empirical analysis of excess interbank liquidity: a case study of Pakistan
    Applied Economics, 2015, 47, (44), 4754-4776 View citations (1)
    See also Working Paper An Empirical Analysis of Excess Interbank Liquidity: A Case Study of Pakistan, SBP Working Paper Series (2014) View citations (1) (2014)
38. Are international fund flows pro- or counter-cyclical?
    Applied Economics Letters, 2015, 22, (5), 378-384 View citations (4)
39. Distributed energy generation techniques and the competitive fringe effect in electricity markets
    Resource and Energy Economics, 2015, 42, (C), 125-140 View citations (4)
40. Power to the people: Local community initiatives and the transition to sustainable energy
    Renewable and Sustainable Energy Reviews, 2015, 43, (C), 666-675 View citations (138)
41. Toward a theory of responsible investing: On the economic foundations of corporate social responsibility
    Resource and Energy Economics, 2015, 41, (C), 103-121 View citations (14)

2014

42. Corporate Social Responsibility Policies of Commercial Banks in Developing Countries
    Sustainable Development, 2014, 22, (4), 276-288 View citations (12)
43. Leading Indicators of Currency Crises: Are They the Same in Different Exchange Rate Regimes?
    Open Economies Review, 2014, 25, (5), 937-957 View citations (5)
44. Modeling natural gas price volatility: The case of the UK gas market
    Energy, 2014, 72, (C), 126-134 View citations (24)
45. Not Under Our Back Yards? A case study of social acceptance of the Northern Netherlands CCS initiative
    Renewable and Sustainable Energy Reviews, 2014, 30, (C), 923-942 View citations (6)
46. Sudden Stops and Currency Crashes
    Review of International Economics, 2014, 22, (4), 660-685 View citations (6)
47. Testing uncovered interest rate parity using LIBOR
    Applied Economics, 2014, 46, (30), 3708-3723 View citations (3)
    See also Working Paper Testing Uncovered Interest Rate Parity Using LIBOR, CESifo Working Paper Series (2012) View citations (2) (2012)
48. The relationship between European electricity markets and emission allowance futures prices in phase II of the EU (European Union) emission trading scheme
    Energy, 2014, 74, (C), 585-594 View citations (42)

2013

49. Corporate Social Responsibility and Earnings Management: Evidence from Asian Economies
    Corporate Social Responsibility and Environmental Management, 2013, 20, (2), 95-112 View citations (61)
50. Drivers of Socially Responsible Investing: A Case Study of Four Nordic Countries
    Journal of Business Ethics, 2013, 115, (3), 605-616 View citations (30)
51. Ownership Concentration and CSR Policy of European Multinational Enterprises
    Journal of Business Ethics, 2013, 118, (1), 117-126 View citations (71)
52. The Drivers of Responsible Investment: The Case of European Pension Funds
    Journal of Business Ethics, 2013, 117, (1), 137-151 View citations (31)
53. The impact of renewable energy on electricity prices in the Netherlands
    Renewable Energy, 2013, 57, (C), 94-100 View citations (55)
54. The liquidity of energy stocks
    Energy Economics, 2013, 38, (C), 168-175 View citations (12)
55. The relationship between size, growth and profitability of commercial banks
    Applied Economics, 2013, 45, (13), 1751-1765 View citations (26)
56. The relationship between the Renminbi future spot return and the forward discount rate
    Journal of International Money and Finance, 2013, 32, (C), 156-168 View citations (3)

2012

57. Environmental and ecological economics in the 21st century: An age adjusted citation analysis of the influential articles, journals, authors and institutions
    Ecological Economics, 2012, 77, (C), 193-206 View citations (27)
58. Oil price shocks and European industries
    Energy Economics, 2012, 34, (4), 1187-1195 View citations (96)
59. The curse of the haven: The impact of multinational enterprise on environmental regulation
    Ecological Economics, 2012, 78, (C), 148-156 View citations (31)
60. The drivers of the relationship between corporate environmental performance and stock market returns
    Journal of Sustainable Finance & Investment, 2012, 2, (3-4), 338-375 View citations (21)

2011

61. Assessing SRI fund performance research: Best practices in empirical analysis
    Sustainable Development, 2011, 19, (2), 77-94 View citations (42)
62. Corporate social responsibility in the international insurance industry
    Sustainable Development, 2011, 19, (2), 143-156 View citations (20)
63. Incentives for subcontractors to adopt CO2 emission reporting and reduction techniques
    Energy Policy, 2011, 39, (3), 1877-1883 View citations (12)
64. Is the concept of a green economy a useful way of framing policy discussions and policymaking to promote sustainable development?
    Natural Resources Forum, 2011, 35, (1), 63-72
    See also Working Paper Is the concept of a green economy a useful way of framing policy discussions and policymaking to promote sustainable development?, Post-Print (2011) (2011)
65. Linking responsible investments to societal influence: Motives, assessments and risks
    Sustainable Development, 2011, 19, (2), 71-76 View citations (4)
66. Revisions of international firms’ energy reserves and the reaction of the stock market
    Energy, 2011, 36, (5), 3541-3546 View citations (8)
67. Stocks and energy shocks: The impact of energy accidents on stock market value
    Energy, 2011, 36, (3), 1698-1702 View citations (21)
68. The sustainability of green funds
    Natural Resources Forum, 2011, 35, (3), 223-232 View citations (3)

2010

69. Does Money Grow on Trees? The Diversification Properties of U.S. Timberland Investments
    Land Economics, 2010, 86, (3) View citations (10)
70. The Environmental Performance of Dutch Government Bond Funds
    Journal of Business Ethics, 2010, 92, (1), 117-130 View citations (5)
71. The impact of bank ownership concentration on impaired loans and capital adequacy
    Journal of Banking & Finance, 2010, 34, (2), 399-408 View citations (113)

2009

72. Corporate Social Responsibility in the International Banking Industry
    Journal of Business Ethics, 2009, 86, (2), 159-175 View citations (119)
73. Scoring on the stock exchange? The effect of football matches on stock market returns: an event study
    Applied Economics, 2009, 41, (25), 3231-3237 View citations (33)
74. What would be the three key preconditions for jumpstarting or scaling up the transfer of environmentally sound technologies for climate change to developing countries?
    Natural Resources Forum, 2009, 33, (4), 334-337

2008

75. A note on the interaction between corporate social responsibility and financial performance
    Ecological Economics, 2008, 68, (1-2), 46-55 View citations (90)
76. Environmental regulation and MNEs location: Does CSR matter?
    Ecological Economics, 2008, 67, (1), 55-65 View citations (39)
77. Experts address the question: “How can sustainable land management contribute to mitigating climate change?”
    Natural Resources Forum, 2008, 32, (3), 252-256
78. Oil Risk in Oil Stocks
    The Energy Journal, 2008, Volume 29, (Number 1), 89-112 View citations (27)
    Also in The Energy Journal, 2008, 29, (1), 89-112 (2008)
79. Stakeholder relations and financial performance
    Sustainable Development, 2008, 16, (3), 213-232 View citations (26)
80. Sustainable development and socially responsible finance and investing
    Sustainable Development, 2008, 16, (3), 137-140 View citations (12)
81. The stocks at stake: Return and risk in socially responsible investment
    Journal of Banking & Finance, 2008, 32, (12), 2646-2654 View citations (263)

2007

82. Banking on the Equator. Are Banks that Adopted the Equator Principles Different from Non-Adopters?
    World Development, 2007, 35, (8), 1307-1328 View citations (71)
83. Book Review
    De Economist, 2007, 155, (2), 241-242
84. Corporate Governance and International Location Decisions of Multinational Enterprises
    Corporate Governance: An International Review, 2007, 15, (6), 1330-1347 View citations (5)
85. Cultural Values and International Differences in Business Ethics
    Journal of Business Ethics, 2007, 75, (3), 273-284 View citations (82)
86. Experts address the question: How has the globalization of industrial supply chains impacted sustainable development in developing countries?
    Natural Resources Forum, 2007, 31, (1), 87-90
87. Financial and Social Performance of Socially Responsible Investments in the Netherlands
    Corporate Governance: An International Review, 2007, 15, (6), 1090-1105 View citations (18)
88. Joint Default Probabilities and Sovereign Risk
    International Interactions, 2007, 33, (2), 195-210 View citations (1)
89. Legal Restrictions and Investment Growth
    Kyklos, 2007, 60, (4), 575-600 View citations (2)

2006

90. Finance as a Driver of Corporate Social Responsibility
    Journal of Business Ethics, 2006, 68, (1), 19-33 View citations (139)

2005

91. What drives socially responsible investment? The case of the Netherlands
    Sustainable Development, 2005, 13, (2), 129-137 View citations (10)

2004

92. How Important are Foreign Banks in the Financial Development of European Transition Countries?
    Journal of Emerging Market Finance, 2004, 3, (2), 99-123 View citations (7)
    See also Working Paper How Important are Foreign Banks in the Financial Development of European Transition Countries?, CESifo Working Paper Series (2003) View citations (15) (2003)

2002

93. Stocks and shocks
    BNL Quarterly Review, 2002, 55, (223), 347-361 View citations (1)
    Also in Banca Nazionale del Lavoro Quarterly Review, 2002, 55, (223), 347-361 (2002) View citations (1)

2001

94. Borrowing green: economic and environmental effects of green fiscal policy in The Netherlands
    Ecological Economics, 2001, 39, (3), 425-435 View citations (7)

2000

95. A critique on the theory of financial intermediation
    Journal of Banking & Finance, 2000, 24, (8), 1243-1251 View citations (49)
96. Financial regulation and financial system architecture in Central Europe
    Journal of Banking & Finance, 2000, 24, (4), 525-553 View citations (24)
97. Size, Growth, and Variance among the World's Largest Non-merged Banks
    International Journal of the Economics of Business, 2000, 7, (3), 313-323 View citations (3)

1998

98. Environmental, developmental and financial risks of tropical timber plantation investment funds
    Natural Resources Forum, 1998, 22, (4), 271-277
99. The prospects of tropical timber plantation investment funds
    Environment Systems and Decisions, 1998, 18, (3), 167-173

1997

100. Bank- and market-oriented financial systems: fact or fiction?
     Banca Nazionale del Lavoro Quarterly Review, 1997, 50, (202), 301-323 View citations (1)
     Also in BNL Quarterly Review, 1997, 50, (202), 301-323 (1997) View citations (1)

1991

101. The economic organisation of a financial system: Edwin H. Neave, Routledge, London and New York, 1991) pp. xii + 198, [UK pound]35, ISBN 0-415-05353-6
     Journal of Banking & Finance, 1991, 15, (6), 1207-1208

Books

2003

1. The Theory of Financial Intermediation: An Essay On What It Does (Not) Explain
   SUERF Studies, SUERF - The European Money and Finance Forum View citations (22)

Chapters

2019

1. Sustainable Business Practices—An Environmental Economics Perspective
   Springer