New Articles – Finance

Investors’ reactions on the publication of integrated reports. Evidence from European stock markets

Bianca Raluca Bădițoiu, Roxana Ioan, Valentin Partenie Munteanu, Alexandru Buglea

The last decades brought to stock market investors’ attention several key issues regarding companies’ activity, besides the financial statements. These issues, such as environmental, social, or corporate governance policies are nowadays included in integrated reports issued by many listed companies worldwide. Although these topics seem to currently attract a high interest in the media, our study’s aim is to determine whether the listed firms’ release of Integrated Reports has any bearing on the…

DOI (& full text): doi.org/10.15240/tul/001/2023-2-010 more

How competitive is SRI in developing financial markets: The case of Central and Eastern Europe

Ana Ivanisevic Hernaus, Davor Zoricic, Denis Dolinar

This study investigates the competitiveness of sustainable and responsible investment (SRI) in Central and Eastern European (CEE) financial markets. Specifically, we examined whether a statistically significant measurable difference in the return and volatility between an SRI index and two conventional benchmark indices in the CEE region exists. To test whether the market volatility may affect the results, we applied a Markov regime-switching model to examine the performance in high and low…

DOI (& full text): doi.org/10.15240/tul/001/2023-2-011 more