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Journal of Financial Stability
Article . 2024 . Peer-reviewed
License: CC BY
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St Andrews Research Repository
Article . 2023 . Peer-reviewed
SSRN Electronic Journal
Article . 2021 . Peer-reviewed
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Journal of Financial Stability
Article . 2024
License: CC BY
Data sources: u:cris
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Research . 2021
License: unspecified
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Social Responsibility and Bank Resiliency

Authors: Gehrig, Thomas; Iannino, Maria Chiara; Unger, Stephan;

Social Responsibility and Bank Resiliency

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.

Countries
Austria, United Kingdom
Keywords

502009 Corporate finance, HG Finance, 330, Financial stability, Sustainable banking, ESG scores, Capital shortfall, HG, FiWi, 3rd-NDAS, SDG 12 – Nachhaltige/r Konsum und Produktion, 502009 Finanzwirtschaft, CMI, Systemic risk, 502022 Nachhaltiges Wirtschaften, Bank resiliency, SDG 12 - Responsible Consumption and Production, 502022 Sustainable economics

  • BIP!
    Impact byBIP!
    selected citations
    These citations are derived from selected sources.
    This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
    18
    popularity
    This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
    Top 10%
    influence
    This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
    Average
    impulse
    This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
    Top 10%
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selected citations
These citations are derived from selected sources.
This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Citations provided by BIP!
popularity
This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
BIP!Popularity provided by BIP!
influence
This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Influence provided by BIP!
impulse
This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
BIP!Impulse provided by BIP!
18
Top 10%
Average
Top 10%
Green
hybrid