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Article
Publication date: 26 March 2024

Tracey Ollis, Ursula Harrison and Cheryl Ryan

We argue this method of inquiry better represents the participants' learning, lives and experiences in the formal neoliberal education system prioritising performativity…

Abstract

Purpose

We argue this method of inquiry better represents the participants' learning, lives and experiences in the formal neoliberal education system prioritising performativity, categorising and ranking students.

Design/methodology/approach

The paper explores using poetry as a research method to reveal the learning experiences of adult learners, who have often had disruptive experiences of the formal schooling system and return to study in community-based education spaces. Inspired by Laurel Richardson’s transgressive technique of presenting sociological data through poetry as method, we use poetic representations of these learners' lives alongside case study research methodology. The research was conducted in conjunction with Neighbourhood Houses in Victoria, Australia. Qualitative data were generated through conducting multiple case studies of learners across various adult community education (ACE) sites. In this research, some case studies were presented in the traditional method of writing biography, others were written in the form of found poetry, which we refer to as data as poetry and text. The paper uses found poetry through participant-voiced poems written from interview transcripts. We argue this method of inquiry better represents the participants' learning, lives and experiences in the formal neoliberal education system prioritising performativity, categorising and ranking students. Our findings highlight the benefits of using poetry to communicate data in case study research as it effectively represents the experiences of adult learners' lives in a creative and concise form, transgressing normative practices of writing education research. These poetic representations of data reveal learner experiences in an embodied and agentic way while providing readers with a deep and rich understanding of these crucial adult learning spaces.

Findings

Our findings highlight the benefits of using poetry to communicate data in case study research as it effectively represents the experiences of adult learners' lives in a creative and concise form, transgressing normative practices of writing education research.

Originality/value

This research paper is empirical research and has not been submitted elsewhere for publication.

Details

Qualitative Research Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1443-9883

Keywords

Book part
Publication date: 4 April 2024

Hsing-Hua Chang, Chen-Hsin Lai, Kuen-Liang Lin and Shih-Kuei Lin

Factor investment is booming in global asset management, especially environmental, social, and governance (ESG), dividend yield, and volatility factors. In this chapter, we use…

Abstract

Factor investment is booming in global asset management, especially environmental, social, and governance (ESG), dividend yield, and volatility factors. In this chapter, we use data from the US securities market from 2003 to 2019 to predict dividends and volatility factors through machine learning and historical data–based methods. After that, we utilize particle swarm optimization to construct the Markowitz portfolio with limits on the number of assets and weight restrictions. The empirical results show that that the prediction ability using XGBoost is superior to the historical factor investment method. Moreover, the investment performance of our portfolio with ESG, high-yield, and low-volatility factors outperforms baseline methods, especially the S&P 500 ETF.

Details

Advances in Pacific Basin Business, Economics and Finance
Type: Book
ISBN: 978-1-83753-865-2

Keywords

Open Access
Article
Publication date: 18 April 2023

Wenzhen Yang, Johan K. Crone, Claus R. Lønkjær, Macarena Mendez Ribo, Shuo Shan, Flavia Dalia Frumosu, Dimitrios Papageorgiou, Yu Liu, Lazaros Nalpantidis and Yang Zhang

This study aims to present a vision-guided robotic system design for application in vat photopolymerization additive manufacturing (AM), enabling vat photopolymerization AM hybrid…

Abstract

Purpose

This study aims to present a vision-guided robotic system design for application in vat photopolymerization additive manufacturing (AM), enabling vat photopolymerization AM hybrid with injection molding process.

Design/methodology/approach

In the system, a robot equipped with a camera and a custom-made gripper as well as driven by a visual servoing (VS) controller is expected to perceive objective, handle variation, connect multi-process steps in soft tooling process and realize automation of vat photopolymerization AM. Meanwhile, the vat photopolymerization AM printer is customized in both hardware and software to interact with the robotic system.

Findings

By ArUco marker-based vision-guided robotic system, the printing platform can be manipulated in arbitrary initial position quickly and robustly, which constitutes the first step in exploring automation of vat photopolymerization AM hybrid with soft tooling process.

Originality/value

The vision-guided robotic system monitors and controls vat photopolymerization AM process, which has potential for vat photopolymerization AM hybrid with other mass production methods, for instance, injection molding.

Details

Journal of Intelligent Manufacturing and Special Equipment, vol. 4 no. 2
Type: Research Article
ISSN: 2633-6596

Keywords

Open Access
Article
Publication date: 21 March 2023

Eunyoung Cho

This paper aims to examine the time-varying preferences for environment, social and corporate governance (ESG) investing in an emerging market. The investors seek ESG-conscious…

1426

Abstract

This paper aims to examine the time-varying preferences for environment, social and corporate governance (ESG) investing in an emerging market. The investors seek ESG-conscious investments during a positive economic outlook, reflecting the time-varying nature of ESG demand. Specifically, the author shows that high-ESG stocks have negative abnormal returns during bad economic times but turn into positive abnormal returns in good economic times. The author also suggests that the alpha spread between high-ESG and low-ESG stocks is larger in good economic times than in bad times. Furthermore, individual investors prefer high ESG scoring stocks in good economic times. The author highlights that this ESG premium is shaped by economic projection and the households' financial wealth.

Details

Journal of Derivatives and Quantitative Studies: 선물연구, vol. 31 no. 2
Type: Research Article
ISSN: 1229-988X

Keywords

Article
Publication date: 1 December 2022

Rocco Caferra and Pasquale Marcello Falcone

This paper sets out to investigate investors' sustainable preferences under different market conditions. Specifically, the authors examine the existence of a positive sustainable…

Abstract

Purpose

This paper sets out to investigate investors' sustainable preferences under different market conditions. Specifically, the authors examine the existence of a positive sustainable asset pricing gap, and whether it is influenced by the socioeconomic and financial sentiments. The increase of uncertainty rises investors' skepticism whether sustainable companies are under-performing the traditional counterparts, causing larger increasing gap. Conversely, if sustainable assets are overperforming, the increase of market uncertainty raises investors' sustainable preferences.

Design/methodology/approach

The authors examine the existence of a positive sustainable asset pricing gap, and whether it is influenced by the socioeconomic and financial sentiments. Through a quantile regression, the authors remark the variability of sustainable preferences where market participants, although recognizing the present and future value added of sustainable investing, also show skepticism (i.e. asymmetric tail behavior). However, the analysis of the total change of sustainable investments returns over time demonstrates the emergence of positive viewpoints incentivized by economic and market uncertainty.

Findings

The market-driven social responsibility exalts the positive insights regarding the future of sustainable developments. As the authors discuss along the paper, investors are gaining awareness about the environmental and social goals pursued by socially responsible companies. Hence, the authors consider how economic instability might stimulate the assessment of the social and environmental impact of the unsustainable production systems, switching investments toward virtuous sustainable companies. This could generate a series of positive externalities that might improve the welfare conditions of the whole society.

Originality/value

The authors conduct an original empirical exercise, combining different techniques (i.e. quantile regressions and wavelet analysis). To the best of the authors’ knowledge, this is the first paper trying to evidence a systematic connection between market uncertainty and sustainable preferences accounting for different market states (thanks to quantile regressions).

Details

Journal of Economic Studies, vol. 50 no. 6
Type: Research Article
ISSN: 0144-3585

Keywords

Article
Publication date: 25 September 2023

Mirza Muhammad Naseer, Yongsheng Guo and Xiaoxian Zhu

This study aims to examine the relationship between environmental, social and governance (ESG) disclosure, firm risk and stock market returns within the Chinese energy sector…

Abstract

Purpose

This study aims to examine the relationship between environmental, social and governance (ESG) disclosure, firm risk and stock market returns within the Chinese energy sector. Using a variety of econometric techniques, the study seeks to uncover the impact of ESG disclosure on risk mitigation and its influence on stock market performance.

Design/methodology/approach

Benchmark regression models were used to explore the associations between ESG disclosure, firm risk and stock returns. To address potential endogeneity, a generalised method of moments estimator is used. Quantile regression was used for robustness analysis.

Findings

The study reveals a negative relationship between ESG disclosure and firm risk, indicating that companies with greater ESG disclosure tend to experience reduced risk exposure. In addition, a positive association is observed between ESG disclosure and stock market returns, suggesting that companies with more comprehensive ESG disclosure practices tend to perform better in the stock market.

Research limitations/implications

This study implies that investors appreciate sustainable investment and incorporate ESG practices and disclosure in decision-making. Policymakers can promote transparent ESG reporting through regulatory frameworks, fostering sustainable practices in the energy sector.

Originality/value

Despite the mounting concerns over carbon dioxide emissions and the energy industry’s environmental footprint, this study pioneers a comprehensive analysis of ESG disclosure within this critical sector. Delving into the relationship of ESG practices, firm risk and market returns, this research uniquely examines both risk mitigation and return enhancement, shedding new light on sustainable strategies in the energy domain.

Details

International Journal of Energy Sector Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1750-6220

Keywords

Article
Publication date: 18 July 2023

Rosella Carè and Olaf Weber

This paper offers a bibliometric analysis of the scientific literature on social finance. It provides an overview of the research field by identifying gaps in the existing…

140

Abstract

Purpose

This paper offers a bibliometric analysis of the scientific literature on social finance. It provides an overview of the research field by identifying gaps in the existing academic literature and presenting future research directions.

Design/methodology/approach

The study uses co-word analysis and visualization mapping techniques.

Findings

This study's findings show that the social finance research field comprises five main research clusters and four main research hotspots—impact investing, social entrepreneurship, social impact bonds, and social innovation—which represent the core of this research domain. The authors also identify the researchers and the research institutions that have contributed to the development of social finance. In addition, emerging research areas are mapped and discussed.

Originality/value

Compared with most previous literature reviews, this work provides a more complete and objective analysis of the entire social finance landscape by revealing the trends and evolving dynamics that characterize its development. To this end, clear terminological boundaries have not yet been established in social finance. The field appears immature because only a few researchers have contributed to it, and papers have yet to be published by top finance journals. Finally, the findings of this research provide directions for future studies.

Details

International Journal of Emerging Markets, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1746-8809

Keywords

Article
Publication date: 25 August 2023

Kuldeep Singh and Megha Jaiwani

The global energy sector draws significant stakeholder attention due to never-ending controversies surrounding its environmental impacts. Investors’ response to such controversies…

Abstract

Purpose

The global energy sector draws significant stakeholder attention due to never-ending controversies surrounding its environmental impacts. Investors’ response to such controversies causes direct financial implications for these firms. Furthermore, environmental, social and governance (ESG) sensitivity, which is likely to safeguard the energy sector firms from such controversies, is itself conditional to the development stage of a country and its regulatory environment. Therefore, this study aims to investigate if the influence of ESG on the share price volatility (SPV) of energy sector firms is subject to the development stage of the countries.

Design/methodology/approach

The study investigates nine years of panel data of 93 global energy sector firms from developing and developed nations. Using dynamic two-way fixed effects estimation and computing robust standard errors to obtain the econometric results.

Findings

The main finding reveals that the impact of ESG on SPV is, indeed, subject to the development stage of the nations. Similar results are observed for the effects of the social dimension of ESG on SPV. While ESG impacts the SPV negatively for firms in developing economies, the impact is the opposite for firms in developed nations. In other words, strong ESG propositions induce share price stability for developing countries while destabilizing the firms in developed nations.

Practical implications

The policymakers should further streamline the regulations and policies related to ESG adoption and adherence. In practice, the energy sectors should streamline their operations. Firm managers, especially in the energy sector, should devise strategies with ESG as an essential component to safeguard their firms against environmental and market volatility and adversatives. The firms in developing nations should further strengthen their social dimension of ESG to foster social equity and harmony.

Originality/value

The study contributes through its niche investigations on the energy sector, which is very important for the world economy. The study is relevant in the current scenario when the world faces a severe energy crisis due to global supply chain issues.

Details

International Journal of Energy Sector Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1750-6220

Keywords

Article
Publication date: 4 December 2023

Mai T. Said and Mona A. ElBannan

The purpose of this study is to examine the impact of firm environmental, social and governance (ESG) rating scores on market perception and stock behavior from 2017 to 2021 while…

Abstract

Purpose

The purpose of this study is to examine the impact of firm environmental, social and governance (ESG) rating scores on market perception and stock behavior from 2017 to 2021 while controlling for COVID-19 severity score.

Design/methodology/approach

The authors used panel regression models with robust standard errors based on cross-country and cross-industry sample of 1,324 ESG firms from 25 emerging countries across four regions. Four separate regression analyses are used. Hausman test is used to determine whether fixed-effect (FE) or random-effect approaches should be used in regression models. Lagrange multiplier test is used to test for time FEs, and F-test for individual effects to choose between pooled ordinary least squares model and FE. Two-unit root tests are conducted to check stationarity. Heteroskedasticity and serial correlation were controlled through a robust covariance matrix estimation.

Findings

The authors provide evidence that the stakeholder theory persists in emerging countries. Overall, the results suggest that firms’ stock behavior is positively associated with the level of environmental and social performance in the region. However, the results do not provide empirical evidence to support the link between ESG performance and stock market perception proxied by the price-to-sales ratio. The results suggest that Refinitiv and Bloomberg ESG rating scores have a positive impact on stock performance in emerging markets, albeit the Bloomberg rating score is insignificant.

Practical implications

Favorable impact of environmental and social performance on stock performance suggests that policymakers should take initiatives to raise awareness toward investments in ESG projects. Evidence shows that ESG stock performance in emerging markets does not insulate firms from the COVID-19 severity. Furthermore, this study highlights the inconsistency in calculating the ESG ratings, therefore, a more standardized approach is recommended to support investors seeking sustainable investments.

Social implications

The findings have social implications for investors with proenvironmental preferences and nonpecuniary motives for ethical investments. Asset fund managers should develop ESG investment strategies to promote investor preferences that are linked to the proenvironmental and prosocial attitudes by increasing their investments in stocks of firms that behave ethically and support the environment. Furthermore, the findings show that investors pay a price for ethical and socially responsible investments as they are evaluating the environmental and social activities, hence, the firm ESG profile influences equity valuation and risk assessment.

Originality/value

The study extends the literature and provides evidence from the unique setting of emerging markets by analyzing the relationship between ESG rating scores and the COVID-19 severity scores on one hand, and stock behavior and market perception on the other.

Details

Review of Accounting and Finance, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1475-7702

Keywords

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