Social responsibility and bank resiliency

Thomas Gehrig; Maria Chiara Iannino; Stephan Unger

doi:10.1016/j.jfs.2023.101191

Titel

Social responsibility and bank resiliency

Autor*in

Thomas Gehrig

Institut für Finanzwirtschaft, Fakultät für Wirtschaftswissenschaften, Universität Wien

Maria Chiara Iannino

University of St. Andrews, School of Economics and Finance

Stephan Unger

Saint Anselm College, Department of Economics & Business

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.

Stichwort

ESG scoresSystemic riskBank resiliencyFinancial stabilityCapital shortfallSustainable banking

Objekt-Typ

journal article

Sprache

Englisch [eng]

Persistent identifier

phaidra.univie.ac.at/o:2044878

DOI

10.1016/j.jfs.2023.101191

Erschienen in

Titel