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
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.
引用
收藏
页数:21
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