Tracing negative media attention, this paper investigates the effect of reputational risk on firm value. Decomposing reputational damage into environmental, social and corporate-governance dimensions, it reports that environmental reputational risk has the most significant negative effect on price earnings, i.e., firms exposed to environmental risk are likely to be priced at a discount or charged a higher risk premium when discounting future earnings.
Ciciretti, R., Becchetti, L., La Licata, G., Hasan, I. (2022). Environmental reputational risk, negative media attention and financial performance. FINANCIAL MARKETS, INSTITUTIONS & INSTRUMENTS [10.1111/fmii.12163].
Environmental reputational risk, negative media attention and financial performance
Ciciretti, R;Becchetti, L;La Licata, G;
2022-01-01
Abstract
Tracing negative media attention, this paper investigates the effect of reputational risk on firm value. Decomposing reputational damage into environmental, social and corporate-governance dimensions, it reports that environmental reputational risk has the most significant negative effect on price earnings, i.e., firms exposed to environmental risk are likely to be priced at a discount or charged a higher risk premium when discounting future earnings.| File | Dimensione | Formato | |
|---|---|---|---|
|
Ciciretti_FMII_2022.pdf
solo utenti autorizzati
Licenza:
Copyright dell'editore
Dimensione
450.55 kB
Formato
Adobe PDF
|
450.55 kB | Adobe PDF | Visualizza/Apri Richiedi una copia |
I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.
