Socially responsible banking: Weathering the Covid-19 storm

被引：0

作者：

Chiaramonte, Laura ^{[1
]}

Dreassi, Alberto ^{[4
]}

Girardone, Claudia ^{[2
]}

Pisera, Stefano ^{[2
,3
]}

机构：

[1] Univ Verona, Verona, Italy

[2] Univ Essex, Colchester, England

[3] Univ Genoa, Via Vivaldi 5, Genoa, Italy

[4] Univ Trieste, Trieste, Italy

来源：

JOURNAL OF INTERNATIONAL FINANCIAL MARKETS INSTITUTIONS & MONEY | 2024年 / 95卷

关键词：

Environmental; Social and Governance (ESG); Covid-19; European Banking; Bank Stability; Google Trends; CORPORATE; PERFORMANCE; COMPANIES; TRUST;

D O I：

10.1016/j.intfin.2024.102029

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This paper investigates the impact of socially responsible banking activities on banks' risk profiles, using data from the period of turmoil caused by the Coronavirus (Covid-19) outbreak in Europe. Our findings show that socially responsible banking activities served as a risk-hedging strategy at the peak of the pandemic. Furthermore, we reveal the role of banks' environmental and social engagement in reducing the exposure to country-level Covid-19 cases and public perception using a Google Trends sentiment analysis. Finally, in explaining the ESG-bank risk relationship, we identify a mediating role of the Covid-19 "panic" as a viable economic channel.

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