A consensus has emerged in the burgeoning literature on corporate social responsibility
(CSR) that “virtuous” firms are often rewarded by the marketplace. Unfortunately, the …

The practice of periodically reconstituting equity indices suggests that changes to the
composition of an index can impact the performance of firms whose stocks are added to or …

This paper analyzes the impacts of index inclusions and exclusions on corporate
sustainable firms by studying a sample of US stocks that are added to or deleted from the …

On 16 th March 2016, the government of the United Kingdom announced the Soft Drinks
Industry Levy (SDIL), under which UK soft-drink manufacturers were to be taxed according to …

In recent years, investors have perceived that Environmental, Social, and Governance (ESG)
practices significantly increase the value of companies' stocks. This study investigates the …

Purpose Passive investing has established itself as the dominant force in the world of
professionally managed assets, surpassing the concept of index funds. Its meteoric rise is …

Firms added to (deleted from) the S&P 600 index experience a significant price increase
(decrease) at announcement. Firms that newly enter (exit) the S&P universe experience a …

The results of plentiful research indicate a positive relation between corporate social
responsibility and financial results of companies, which should make investors focus on …

Purpose Amid the growing investors' interest in environment, social and governance (ESG)
investing, the present study aims to examine the investors' reactions to the reconstitutions of …

This paper examines the effect of changes in the KOSPI 200 index. We find evidence of
permanent price effects and partial return reversal for the event stocks. Trading volumes …