All Academic research articles – Page 6
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Academic researchRI Quarterly Vol. 4: Focus on climate
Climate-related investment practice is on the verge of rapid change.
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Blog post
Stock duration and misvaluation
In Stock Duration and Misvaluation, Cremers, Pareek and Sautner (2012) empirically investigate whether the presence of institutional investors with short investment horizons has an impact on stock prices.
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Blog post
Environmental and social consequences of climate change
In 2012 the UK Government’s Department for Environment, Food & Rural Affairs and Environment Agency (DEFRA) produced a Climate Change Risk Assessment (CCRA) evaluating the main climate-related risks and opportunities in eleven sectors in the UK, over the course of the current century to 2100.
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Blog post
Long-term capitalism
In these articles, Barton and Wiseman outline their view that the short-term approaches to managing and investing in companies, approaches which were responsible for the financial crisis, still exist.
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Blog post
Bribes and firm value
In Bribes and Firm Value, Zeume investigates whether the ability to use bribes creates company value.
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Academic researchRI Quarterly Vol. 3: Long-termism in financial markets
Why is there so little academic research on long termism in financial markets?
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Blog post
Uncertain times, plural rationalities and the pension fiduciary
Huang et al in this paper explore the application of the theory of plural rationality to defined benefit pension fund decision-making.
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Blog post
Fiduciary duty and sin stocks: is vice really nice?
This paper investigates whether fiduciary duty obliges pension fund trustees to invest over-proportionally in ‘sin stocks’, i.e. companies operating in sectors traditionally considered unethical such as tobacco, alcohol, gambling and defence.
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Blog post
Fiduciary duty and the search for a shared conception of sustainable investment
This paper reviews the historical legal background to the evolution of fiduciary duty in the UK, with reference to the parallel evolution of the concept in the US.
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Blog post
The public fiduciary: a Canadian perspective
In this paper Waitzer and Sarro examine the role of pension fund trustees in Canada, and how the Supreme Court of Canada has developed a framework for fiduciary duty that has adapted to changing social and governance challenges.
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Blog post
The voice of the beneficiary
Berry and Scanlan argue that beneficiaries should be consulted on the general policies of their pension fund, and that trustees should take their wishes into account when making investment decisions.
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Blog post
The role of investment tools, investment beliefs and industry convention in changing interpretations of fiduciary duty
This paper examines how investment tools, beliefs and industry conventions impact the interpretation of fiduciary duty in the investment industry.
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Blog post
The basis of fiduciary duty in investment in the United States
In this paper Youngdahl outlines the history and development of the concept of fiduciary duty in the United States.
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Academic researchRI Quarterly Vol. 2: Fiduciary duty
In this second volume of the PRI Academic Network’s RI Quarterly we focus on the issue of fiduciary duty.
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Blog post
Friends with money
This study investigates whether personal connections between the senior management of lending banks and the senior management of borrowing companies, such as having previously studied or worked at the same organisation, has an impact on the outcome of a company’s application for a loan in terms of both interest rate ...
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Academic researchRI Quarterly Vol.1: ESG issues in bank loan pricing and decision making
Welcome to the first issue of the PRI Academic Network’s RI Quarterly.
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Blog post
Do cultural differences between contracting parties matter? Evidence from syndicated bank loans
Behavioural factors are frequently the subject of management and investment psychology studies, and the difficulties encountered in mergers between organisations with different national cultures suggest that common cultural norms can play an important role in business transactions.
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Blog post
The impact of corporate social responsibility on the cost of bank loans
Corporate social responsibility (CSR) has become a major issue for company management, with much debate over whether it adds or destroys value.
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Blog post
Do shareholder rights affect the cost of bank loans?
This study explores the effect of a firm’s corporate governance structure on the cost of its bank loans.
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Blog post
Board quality and the cost of debt capital: the case of bank loans
While corporate governance factors are often thought of as important issues for shareholders, in particular the characteristics and quality of the board of directors, less attention is given to their relevance for creditors. This paper explores the issue by focusing on the impact of board quality on a company’s cost ...
