Socially responsible banking: Weathering the Covid-19 storm

IF 5.4 2区经济学 Q1 BUSINESS, FINANCE

Journal of International Financial Markets Institutions & Money Pub Date : 2024-07-26 DOI:10.1016/j.intfin.2024.102029

Laura Chiaramonte , Alberto Dreassi , Claudia Girardone , Stefano Piserà

引用次数: 0

Abstract

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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社会责任银行：抵御 Covid-19 风暴

本文利用欧洲爆发冠状病毒（Covid-19）疫情期间的数据，研究了社会责任银行活动对银行风险状况的影响。我们的研究结果表明，在疫情高峰期，社会责任银行活动是一种风险对冲策略。此外，我们还利用谷歌趋势情感分析揭示了银行的环境和社会参与在降低国家级 Covid-19 病例风险和公众认知方面的作用。最后，在解释环境、社会和治理与银行风险的关系时，我们确定了 Covid-19 "恐慌 "作为可行经济渠道的中介作用。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Journal of International Financial Markets Institutions & Money Multiple-

CiteScore

6.60

自引率

10.00%

发文量

142

期刊介绍： International trade, financing and investments, and the related cash and credit transactions, have grown at an extremely rapid pace in recent years. The international monetary system has continued to evolve to accommodate the need for foreign-currency denominated transactions and in the process has provided opportunities for its ongoing observation and study. The purpose of the Journal of International Financial Markets, Institutions & Money is to publish rigorous, original articles dealing with the international aspects of financial markets, institutions and money. Theoretical/conceptual and empirical papers providing meaningful insights into the subject areas will be considered. The following topic areas, although not exhaustive, are representative of the coverage in this Journal. • International financial markets • International securities markets • Foreign exchange markets • Eurocurrency markets • International syndications • Term structures of Eurocurrency rates • Determination of exchange rates • Information, speculation and parity • Forward rates and swaps • International payment mechanisms • International commercial banking; • International investment banking • Central bank intervention • International monetary systems • Balance of payments.