Goodwill Capital, Relationship-specific Capital, and Corporate Sanctions: An Empirical Study of the Russian Invasion of Ukraine
Whether environmental, social, and governance (ESG) policies enhance shareholder value has been the subject of debate for decades. There are three views on ESG investments. The first view argues that ESG activities enhance shareholder value because they are productive investments in “reputation” or “goodwill” capital (hereafter as “goodwill capital” view). ESG activities reduce transaction costs… Read More »
