每朵乌云（泡沫）都有一线希望吗？ESG金融市场调查

IF 4.3 2区经济学 Q1 BUSINESS, FINANCE

Journal of Behavioral and Experimental Finance Pub Date : 2024-04-04 DOI:10.1016/j.jbef.2024.100928

Matteo Foglia , Federica Miglietta

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引用次数: 0

摘要

本文研究了环境、社会和公司治理市场所涵盖的环境友好型投资中是否存在金融泡沫。通过使用对数周期幂律奇异性框架，我们发现了短期、中期和长期的几个正负泡沫期。此外，我们还研究了 ESG 关注情绪与金融泡沫之间的关系。我们发现 ESG 情绪对金融泡沫的影响是不对称的，即积极泡沫增加，消极泡沫减少。我们的实证结果为环境友好型市场的稳定性提供了宝贵的见解，有助于风险管理者和政策制定者对金融和社会泡沫做出适当的反应。

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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Does every cloud (bubble) have a silver lining? An investigation of ESG financial markets

This paper investigates the presence of financial bubbles in the environmentally friendly investments captured by the ESG markets. By using the log-periodic power law singularity framework, we identified several periods of positive and negative bubbles in the short, medium, and long term. Moreover, we examined the relationship between ESG attention sentiment and financial bubbles. We found an asymmetric effect of ESG sentiment on financial bubbles, i.e., increasing positive and decreasing negative bubbles. Our empirical results provide valuable insights into the stability of environmentally friendly markets, which help risk managers and policymakers respond appropriately to financial and social bubbles.

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来源期刊

Journal of Behavioral and Experimental Finance BUSINESS, FINANCE-

CiteScore

13.20

自引率

6.10%

发文量

审稿时长

69 days

期刊介绍： Behavioral and Experimental Finance represent lenses and approaches through which we can view financial decision-making. The aim of the journal is to publish high quality research in all fields of finance, where such research is carried out with a behavioral perspective and / or is carried out via experimental methods. It is open to but not limited to papers which cover investigations of biases, the role of various neurological markers in financial decision making, national and organizational culture as it impacts financial decision making, sentiment and asset pricing, the design and implementation of experiments to investigate financial decision making and trading, methodological experiments, and natural experiments. Journal of Behavioral and Experimental Finance welcomes full-length and short letter papers in the area of behavioral finance and experimental finance. The focus is on rapid dissemination of high-impact research in these areas.