Sustainability in Accounting, Finance and Economics
The Sustainability in Accounting, Finance and Economics (SAFE) research mobilisation group aims to foster and promote collaborative research in sustainable finance, development and economics, including climate finance, social and environmental disclosure, and the reporting and evaluation of ESG and the implementation of social development initiatives. A partner of the Centre for Social and Environmental Accounting Research (CSEAR), SAFE aims to achieve greater dialogue and engagement between academia, business, practitioners and other societal stakeholders.
- Research
Research Themes
1. Accounting and Accountability for Sustainability: Disclosure, Measurement, and Control.
2. Socially Responsible Investment (SRI) Products: Pricing, Modelling Issues, Risk Management Techniques, and Financial Performance Measures.
3. Corporate Policies, Accountability, and SDGs (Sustainable Development Goals).
4. Sustainable Accounting & Finance and Organizational Change within Businesses.
5. Environmental, Social, and Governance (ESG) Regulation Violations and Corporate Outcomes: Management Turnovers, Cost of Capital, and Behaviour of Insiders
6. Macroeconomic Events and Corporate Social Responsibility (CSR) Policies: The Impact of Government’s CSR Polices, Policy Uncertainty, and Geopolitical Risk.
Recent Research
Ahmed, S., 2024. Wage theft, secrecy, and derealization of “ideal workers” in the Bangladesh garment industry. Organization Studies, p.01708406241236608.
Ahmed, S., Uddin, Shahzad and Shahadat, Khandakar (2023). Supply chain accountability, COVID-19, and violations of workers’ rights in the global clothing supply chain. Supply Chain Management: An International Journal.
Fabozzi, F. J., Tunaru, D. E., & Tunaru, R. S. (2022). The Interconnectedness between Green Finance Indexes and Other Important Financial Variables. The Journal of Portfolio Management, 48(10), 60-77.
He, K., Pan, X., Tian, G. G., Wu, Y., & Cai, C. (2022). How does reciprocal rent-seeking between politicians and auditors influence audit quality? Evidence from China. Accounting Horizons, 36(3), 103-126.
Nguyen, Q. (2023). Political Similarities in Credit Ratings. International Review of Financial Analysis (Accepted for publication – ABS
Nguyen, Q. M., Do, H. X., Molchanov, A., Nguyen, L., & Nguyen, N. H. (2020). Asymmetric trading responses to credit rating announcements from issuer‐versus investor‐paid rating agencies. Journal of Business Finance & Accounting.
Wang, L., Wu, J., Cao, Y. and Hong, Y., (2022). Forecasting renewable energy stock volatility using short and long-term Markov switching GARCH-MIDAS models: Either, neither or both?. Energy Economics, 111, 106056.
Wu, Y., & Tian, G. G. (2021). Public relations expenditure, media tone, and regulatory decisions. Journal of Corporate Finance, 66, 101793.
Zhang, Q., Ding, R., Chen, D., & Zhang, X. (2022). The Effects of Mandatory ESG Disclosure on Price Discovery Efficiency Around the World. Available at SSRN 4308420.
- Members
- Projects
1. Investigation of pricing of European Union Allowances (EUA) carbon credits as well as modelling the structure and dynamics of energy prices. Funded by the Czech Sci-ence Foundation. Amount: £200,000 Period: 2022-2024.
2. Investigation of corporate insider trading around ESG scandals. Funded by OP Bank Foundation, Finland. Amount: 21,000. Period: March 2022-September 2024.
3. Accounting for Indentured Labour – The Case of Assam Tea Plantations.
4. Analysis of Sustainability Reporting Practices in Coffee Plantations in India. Funded by SEEDS Impact, an NGO based in India. Amount: £2,000. - News and Events
19 February 2024
Speaker : Prof. Lee Parker, University of Glasgow, Adam Smith Business School
Title of the paper: Third Sector Crisis Management and Resilience: Reflections and Directions
Abstract : This paper examines the challenges posed to third sector organisations by major external crises that from time to time beset national and global communities. In so doing it unpacks the multiple characteristics and complexities of concepts and related issues involved in organisational crisis management and resilience. This reveals the importance of shared sensemaking, issue identification, response types and implementation, organisational coping and adaptation, exploiting strategic opportunities, and conditioners of organisational resilience. Related insights are drawn from selected empirical studies involving non-profit organisational crisis responses to a range of major crisis events. Accountability and management control implications are induced and a relevant ongoing agenda for accounting research is presented.
19 February
Round table Talk: Managing Crises: lessons from the COVID-19
(Organised by Dr Massimo Contrafatto, University of Sussex Business School and Moderated by Prof. Ericka Costa, University of Trento (Italy)
Panel/Presenting Members :
Prof. Lee Parker, University of Glasgow and Editor of AAAJ
Prof. Massimo Sargiacomo, University of Chieti-Pescara (Italy)
Prof. Gonul Colak, University of Sussex (UK)
Dr. Michele Bigoni, Kent Business School (UK)
20 February 2024
Speaker: Lee Parker – University of Glasgow, Adam Smith Business School
Presentation for Early Career Researchers
Title: Developing and Managing Academic Career
28 February 2024
Speaker : Prof. Dimitrios Gounopoulos, University of Bath
Title: The Impact of Wildfire Smoke on Real Estate Market
Abstract: Using detailed housing transaction data in the U.S. covering 2010-2019 period, we find that wildfire-generated smoke negatively predict both housing valuation and real estate market liquidity. Listings in smoke-exposed areas experience longer outstanding days, suffer a widening opening-closing price spectrum, thus leading to overall market activity reduction. The exogeneity of smoke incidence to local economic activities suggests a causal relationship of how wildland-fire by-product determines the U.S. housing market. Besides concentrating in areas experiencing multiple incidences in a year, smoke reveals its strongest effect on property market within the first 6 to 12 months before dissipating one year later. We observe the most pronounced effect in areas whose population is generally concerned about climate change. Our findings attribute smoke influencing on housing market to migration channel.
For registrations:
https://buytickets.at/universityofsussex8/1157778
6 March 2024
Speaker : Prof. Bin Xu, University of Leeds
Title: Does Segment Disclosure Constrain Corporate Pollution?
Abstract
We examine whether corporate segment disclosure affects firm environmental performance. Using mandatory segment reporting in the United States as a shock, we find that mandatory disclosure of previously hidden segments that belong to pollutive industries reduces toxic pollution of firm plants. Consistent with the notion that segment disclosure enhances the monitoring of firm pollution by highlighting the materiality of pollutive segments and drawing stakeholders’ attention to underlying environmental issues, the effect is stronger for plants that are under less stringent regulatory and public scrutiny and when the newly disclosed segments are more pollutive. Disclosing firms reduce pollution by enhancing pollution prevention practices and increasing green innovation, which in turn reduces environmental violations. Overall, this study uncovers the role of segment disclosure in curbing corporate pollution. For registrations:https://buytickets.at/universityofsussex8/1157544
13 March 2024
Speaker: Prof. Viet Dang, Alliance Manchester Business School
Title: Labor Mobility and Corporate Environmental Performance
Abstract:
Using U.S. plant-level data, we find that corporate emissions decline significantly when labor mobility increases due to weaker enforcement of covenants not to compete (CNCs) in the states of residency. The effect is more pronounced for firms relying more on highly skilled labor and intangible capital, having lower degrees of financial constraints, or facing greater product market competition. We further document that treated firms increase their green innovation and investment as labor mobility restrictions relax. Our results suggest that greater labor mobility improves corporate environmental performance by boosting emission abatement activities, highlighting an environmental benefit of labor mobility.
For registrations: https://buytickets.at/universityofsussex8/1157622 [buytickets.at]
Contact
For any enquiries, email Gonul Colak (G.Colak@sussex.ac.uk) or Sarada Krishnan (S.R.Krishnan@sussex.ac.uk).