|Environmental stocks, CEO health risk and COVID-19.|
Fernández-Méndez C, Pathan S.
Research in international business and finance. 2022; 59(): 101509
During the COVID-19 pandemic, we find that Australian firms with environmentally sustainable practices generated higher abnormal returns. Firms with CEOs who were exposed to significant health risks from COVID-19 experienced poorer stock market performance. Firms with low pre-COVID default risk and high pre-COVID liquidity performed better during the COVID-19 stock market crash. This research signifies the importance of environmental sustainability for Australian firms to endure pandemics such as COVID-19. CI - (c) 2021 Published by Elsevier B.V.