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X-WR-CALNAME:Mathematical Finance
X-ORIGINAL-URL:https://www.math.ttu.edu/mathematicalfinance
X-WR-CALDESC:Events for Mathematical Finance
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DTSTART:20230312T080000
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DTSTART;TZID=America/Chicago:20230421T100000
DTEND;TZID=America/Chicago:20230421T230000
DTSTAMP:20260810T125459
CREATED:20230102T174205Z
LAST-MODIFIED:20230113T180627Z
UID:1031-1682071200-1682118000@www.math.ttu.edu
SUMMARY:Did ESG Save the Day? Evidence From India During the COVID 19 Crisis
DESCRIPTION:Speaker: Prof. Ved Beloskar\, Modi School of Commerce\, NMIMS Deemed to be University\, Mumbai \nAbstract: Investors have shown increasing interest in Socially Responsible Investments (SRI) in the past few years\, especially during the financial crisis caused due to the outbreak of the COVID-19 pandemic. SRI are evaluated on the basis of Environmental\, Social and Governance (ESG) criteria. ESG information allows investors to assess the risks associated with a particular firm and how the firm manages or intends to manage future risks. Amidst the increasing investor interest in ESG products\, we attempt to study the value addition of ESG performance to investors during crisis period. Using a sample of ESG rated firms listed on the Bombay Stock Exchange (BSE)\, we examine the investment performance\, trading volumes and return volatility of ESG stocks in an emerging market like India during the COVID-19 crisis. The results of our event study conducted around the important events that have occurred in India during the COVID-19 pandemic provide evidence that investors can use ESG information as a signal of future stock performance. Most importantly\, ESG performance provides downside protection during crisis times. Our results show that ESG performance does not prove to be detrimental to investment performance during normal times. Also\, ESG performance was found to reduce stock return volatility during the COVID-19 pandemic. Overall\, our study attempts to establish an investment case for ESG stocks in emerging markets in India by providing support to the good management hypothesis.
URL:https://www.math.ttu.edu/mathematicalfinance/event/did-esg-save-the-day-evidence-from-india-during-the-covid-19-crisis/
LOCATION:via Zoom
CATEGORIES:Seminars,Spring 2023
ATTACH;FMTTYPE=image/jpeg:https://www.math.ttu.edu/mathematicalfinance/wp-content/uploads/2023/01/beloskar.jpg
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