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ESG Investing Clearly Serves Pecuniary Interests

Reynolds Holding

Corporate Environmental and Social Impacts Affect the Broader Economy When a company’s problems create volatility in the price of its assets, investors term the problems as “idiosyncratic risks.” Another level of risk affects the volatility of an entire portfolio. June 2020, [link]. [24] Available at [link]. [6]

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Pay for Prudence

Reynolds Holding

Armstrong and Vashishtha (2012)​ show that equity risk-taking incentives lead managers to pursue strategies that expose their firms to systematic risk, which they can hedge, and not idiosyncratic risk, which they cannot hedge, and ​Armstrong et al. Coles et al. 2019​; ​Granja et al., 2009​; ​Berger et al.,

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Are European and American Approaches to Sustainable Corporate Governance All That Different?

Reynolds Holding

72, February 2020, p. Coffee, The Future of Disclosure: ESG, Common Ownership, and Systematic Risk, in ECGI Working Paper Series in Law ,Working Paper N° 541/2020, March 2021, p. 17 of Regulation (UE) 2020/852. [8] Schanzenbach – R.H. Maugeri, Institutional investors and “responsible” capitalism, in Riv.

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Shadow SEC: The Value of an Independent SEC

Reynolds Holding

Regulatory changes introduce uncertainty, and their effects are further confounded by the ever-present unpredictability of markets even known variations, whether from unpredictability in inflation and interest rates driven by the Fed, or the basic requirements for capital-raising and deployment set by the SEC equate to risk. 485 (2004); N.