Does corporate carbon performance converge in the global market? Evidence from a distribution dynamic approach.

Converging corporate carbon performance (CCP) to a higher level is necessary to achieve the global goal of controlling temperature rise. However, it remains uncertain whether all international firms endeavour to improve CCP. Using a panel of 19,913 public companies from 76 countries during the 2010-2019 period and two visual tools of the distribution dynamics approach, we conduct a nascent analysis of transitional dynamics and the long-run evolution of CCP.

Does supplier concentration matter to investors during the COV1D-19 crisis: evidence from China?

The literature shows that investor attention to customer-supplier disclosure increases when suppliers' information arrival is anticipated. Due to the widespread of city lockdowns in China and the implementation of social distancing to control the COVID-19 pandemic, investor attention to potential disruption of the supply chain spikes, leading to a price devaluation for firms with high supplier concentration risk. We find that a higher degree of supplier concentration is related to more serious stock price declines over the short-term and medium-term windows right after the Wuhan lockdown.

The role of ESG performance during times of financial crisis: Evidence from COVID-19 in China.

We examine the role of ESG performance during market-wide financial crisis, triggered in response to the COVID-19 global pandemic. The unique circumstances create an inimitable opportunity to question if investors interpret ESG performance as a signal of future stock performance and/or risk mitigation. Using a novel dataset covering China's CSI300 constituents, we show (i) high-ESG portfolios generally outperform low-ESG portfolios (ii) ESG performance mitigates financial risk during financial crisis and (iii) the role of ESG performance is attenuated in 'normal' times, confirming its incremental importance during crisis.