1. Depositors Disciplining Banks: The Impact of Scandals
Job Market Paper
This paper explores the role of depositors in disciplining banks, when information is not directly linked to bank financial health nor depositor wealth. By using branch level data for the US, I show that banks, who financed the highly controversial Dakota Access Pipeline, had significant decreases in deposit growth for branches located closest to the pipeline. These effects were greater for branches located in environmentally conscious counties and data suggests that savings banks were among the main beneficiaries of this depositor movement. By using a global hand-collected dataset on bank scandals, I also show that these effects are prevalent across countries. I find that deposit growth decreases when banks are caught up in tax evasion, corruption and environmental scandals. I find some evidence that changes in deposits are driven by retail deposit outflow and that depositors, on average, reward banks who are not involved in these types of scandals.
2. Universal Corporate Governance
with Hao Liang (Singapore Management University)
3. How Institutional Investors’ Collective Engagement on ESG Issues Create Value for Investors and Corporations
with Jean-Pascal Gond (Cass Business School), Rieneke Slager (Nottingham University), Michael Viehs (Hermes), Niamh O’Sullivan (Nottingham University) and in cooperation with the UNPRI. Additional Material – RI Quarterly
4. The Real Effects of Entering and Exiting Tax Havens
with Thorsten Beck (Cass Business School) and André F. Silva (Cass Business School)
5. Finance and Demand for Skill: Evidence from Uganda
with Thorsten Beck (Cass Business School) and Burak Uras (Tilburg University)
UNPRI in Person–
Below you will find information on “Corporate ESG Engagement and Value Creation” presented by our research team at the UNPRI conference in Berlin. At the conference, I also gave an additional presentation on the “Future of Responsible Investments” (twitter link) and you can find the “winning” essay below. The event was set-up as a competition and I must also acknowledge the strength and passion of Laila Dib who gave a phenomenal and energetic presentation. You can find information on her ideas as well on the second link.
CONSCIOUS FINANCE: A REVIEW –
These slides are a compilation of academic articles that deal with the “Good” and “Bad” sides of finance. These slides were originally used for a presentation on “Finance and Corporate Social Responsibility – A Review on Literature” and since then have developed to include a range of papers from environmental economics, ethical banking, natural disaster finance, experimental economics, social capital, tax evasion, corruption and much more. There are currently over 200 slides and articles are organized according to their respective subfields. These slides are continuously updated and are meant as a helpful tool for the review of literature and not for the endorsement of any specific articles. All errors are my own. Please notify me in case of errors or material that you may deem important and if you are more broadly interested in contributing to this review, please get in touch!
SLIDES – Conscious Finance – Updated: 09/03/2018
CONSCIOUS CAPITAL: A PRESENTATION –
These slides are from a recent talk I gave at Goodenough College. In my presentation, I asked; how can the average person tackle global challenges including climate change, tax evasion, inequality and deforestation? I begin by discussing the immense transformation of modern financial capital and how investors are continuously re-evaluating their objectives. Ethical banks are growing in numbers, green bonds are skyrocketing and asset managers are increasingly competing with green investment strategies. What can the average person do? Quite a lot! This presentation discusses the success stories of the Average Joe and how they can continue tackling immense societal challenges. If you have any questions on specific content that is not written directly in the slides, please do not hesitate to contact me!
SLIDES – Conscious Capital