{"id":"https://openalex.org/W3122020122","doi":"https://doi.org/10.1177/0958305x15627547","title":"The financial reward for environmental performance in the energy sector","display_name":"The financial reward for environmental performance in the energy sector","publication_year":2016,"publication_date":"2016-03-31","ids":{"openalex":"https://openalex.org/W3122020122","doi":"https://doi.org/10.1177/0958305x15627547","mag":"3122020122"},"language":"en","primary_location":{"id":"doi:10.1177/0958305x15627547","doi":"https://doi.org/10.1177/0958305x15627547","is_oa":false,"landing_page_url":"https://doi.org/10.1177/0958305x15627547","pdf_url":null,"source":{"id":"https://openalex.org/S184363771","display_name":"Energy & Environment","issn_l":"0958-305X","issn":["0958-305X","2048-4070"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-c","anvur-scientific","cwts-core","jufo-1","norway-1","poland-40","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320017","host_organization_name":"SAGE Publishing","host_organization_lineage":["https://openalex.org/P4310320017"],"host_organization_lineage_names":["SAGE Publishing"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Energy &amp; Environment","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"https://doi.org/10.2139/ssrn.2287302","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5001969781","display_name":"\u00d6zg\u00fcr Arslan\u2010Ayaydin","orcid":"https://orcid.org/0000-0002-1977-6752","observed_orcids":["https://orcid.org/0000-0002-1977-6752"]},"institutions":[{"id":"https://openalex.org/I39422238","display_name":"University of Illinois Chicago","ror":"https://ror.org/02mpq6x41","country_code":"US","type":"education","lineage":["https://openalex.org/I39422238"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"\u00d6zg\u00fcr Arslan-Ayaydin","raw_affiliation_strings":["Department of Finance, University of Illinois at Chicago, USA"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of Finance, University of Illinois at Chicago, USA","institution_ids":["https://openalex.org/I39422238"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5020226944","display_name":"James Thewissen","orcid":"https://orcid.org/0000-0002-6600-3023","observed_orcids":["https://orcid.org/0000-0002-6600-3023"]},"institutions":[],"countries":[],"is_corresponding":true,"raw_author_name":"James Thewissen","raw_affiliation_strings":[],"raw_orcid":null,"affiliations":[]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":["https://openalex.org/A5020226944"],"corresponding_institution_ids":[],"apc_list":{"value":3900,"currency":"USD","value_usd":3900},"apc_paid":null,"fwci":3.9993,"has_fulltext":false,"cited_by_count":39,"citation_normalized_percentile":{"value":0.9474374,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":89,"max":99},"biblio":{"volume":"27","issue":"3-4","first_page":"389","last_page":"413"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10115","display_name":"Corporate Social Responsibility Reporting","score":0.6518999934196472,"subfield":{"id":"https://openalex.org/subfields/1408","display_name":"Strategy and Management"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10115","display_name":"Corporate Social Responsibility Reporting","score":0.6518999934196472,"subfield":{"id":"https://openalex.org/subfields/1408","display_name":"Strategy and Management"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T13146","display_name":"Sustainable Finance and Green Bonds","score":0.29170000553131104,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.04540000110864639,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/environmental-performance","display_name":"environmental performance","score":0.9729999899864197},{"id":"https://openalex.org/keywords/energy-companies","display_name":"energy companies","score":0.781000018119812},{"id":"https://openalex.org/keywords/abnormal-returns","display_name":"abnormal returns","score":0.6290000081062317},{"id":"https://openalex.org/keywords/environmental-score","display_name":"environmental score","score":0.6489999890327454},{"id":"https://openalex.org/keywords/vix-index","display_name":"VIX index","score":0.7070000171661377},{"id":"https://openalex.org/keywords/financial-uncertainty","display_name":"financial uncertainty","score":0.9520000219345093},{"id":"https://openalex.org/keywords/esg-investing","display_name":"ESG investing","score":0.5929999947547913},{"id":"https://openalex.org/keywords/stock-returns","display_name":"stock returns","score":0.45100000500679016}],"concepts":[{"id":"https://openalex.org/C2780821815","wikidata":"https://www.wikidata.org/wiki/Q5340806","display_name":"Portfolio","level":2,"score":0.6136391162872314},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.592842698097229},{"id":"https://openalex.org/C198082294","wikidata":"https://www.wikidata.org/wiki/Q3399648","display_name":"Position (finance)","level":2,"score":0.5706204175949097},{"id":"https://openalex.org/C2985347565","wikidata":"https://www.wikidata.org/wiki/Q2151621","display_name":"Energy sector","level":2,"score":0.560181200504303},{"id":"https://openalex.org/C2777382242","wikidata":"https://www.wikidata.org/wiki/Q6017816","display_name":"Index (typography)","level":2,"score":0.49208277463912964},{"id":"https://openalex.org/C2780801425","wikidata":"https://www.wikidata.org/wiki/Q5164392","display_name":"Construct (python library)","level":2,"score":0.4316613972187042},{"id":"https://openalex.org/C2742236","wikidata":"https://www.wikidata.org/wiki/Q924713","display_name":"Efficient energy use","level":2,"score":0.42768779397010803},{"id":"https://openalex.org/C186370098","wikidata":"https://www.wikidata.org/wiki/Q442787","display_name":"Energy (signal processing)","level":2,"score":0.4170129597187042},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.4023361802101135},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.34688887000083923},{"id":"https://openalex.org/C175605778","wikidata":"https://www.wikidata.org/wiki/Q3299701","display_name":"Natural resource economics","level":1,"score":0.23820185661315918},{"id":"https://openalex.org/C18903297","wikidata":"https://www.wikidata.org/wiki/Q7150","display_name":"Ecology","level":1,"score":0.09082436561584473},{"id":"https://openalex.org/C33923547","wikidata":"https://www.wikidata.org/wiki/Q395","display_name":"Mathematics","level":0,"score":0.0},{"id":"https://openalex.org/C199360897","wikidata":"https://www.wikidata.org/wiki/Q9143","display_name":"Programming language","level":1,"score":0.0},{"id":"https://openalex.org/C136764020","wikidata":"https://www.wikidata.org/wiki/Q466","display_name":"World Wide Web","level":1,"score":0.0},{"id":"https://openalex.org/C105795698","wikidata":"https://www.wikidata.org/wiki/Q12483","display_name":"Statistics","level":1,"score":0.0},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.0},{"id":"https://openalex.org/C86803240","wikidata":"https://www.wikidata.org/wiki/Q420","display_name":"Biology","level":0,"score":0.0}],"mesh":[],"locations_count":5,"locations":[{"id":"doi:10.1177/0958305x15627547","doi":"https://doi.org/10.1177/0958305x15627547","is_oa":false,"landing_page_url":"https://doi.org/10.1177/0958305x15627547","pdf_url":null,"source":{"id":"https://openalex.org/S184363771","display_name":"Energy & Environment","issn_l":"0958-305X","issn":["0958-305X","2048-4070"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-c","anvur-scientific","cwts-core","jufo-1","norway-1","poland-40","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320017","host_organization_name":"SAGE Publishing","host_organization_lineage":["https://openalex.org/P4310320017"],"host_organization_lineage_names":["SAGE Publishing"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Energy &amp; Environment","raw_type":"journal-article"},{"id":"doi:10.2139/ssrn.2287302","doi":"https://doi.org/10.2139/ssrn.2287302","is_oa":true,"landing_page_url":"https://doi.org/10.2139/ssrn.2287302","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"acceptedVersion","is_accepted":true,"is_published":false,"raw_source_name":null,"raw_type":"posted-content"},{"id":"pmh:oai:RePEc:sae:engenv:v:27:y:2016:i:3-4:p:389-413","doi":null,"is_oa":false,"landing_page_url":"https://journals.sagepub.com/doi/10.1177/0958305X15627547","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"},{"id":"pmh:oai:dial.uclouvain.be:boreal:227460","doi":null,"is_oa":false,"landing_page_url":"http://hdl.handle.net/2078.1/227460","pdf_url":null,"source":{"id":"https://openalex.org/S4306401902","display_name":"Digital Access to Libraries (Universit\u00e9 catholique de Louvain (UCL), l'Universit\u00e9 de Namur (UNamur) and the Universit\u00e9 Saint-Louis (USL-B))","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I95674353","host_organization_name":"UCLouvain","host_organization_lineage":["https://openalex.org/I95674353"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"Energy &amp; Environment, Vol. 27, no.3-4, p. 389-413 (2016)","raw_type":"info:eu-repo/semantics/article"},{"id":"pmh:oai:lirias2repo.kuleuven.be:123456789/511394","doi":null,"is_oa":false,"landing_page_url":"https://lirias.kuleuven.be/bitstream/123456789/511394/1/EnvironmentFinancialPerf_EnvrtJournal_Arslan_Thewissen_E%26E_v2_15_09_2015.docx","pdf_url":null,"source":{"id":"https://openalex.org/S7407055369","display_name":"Lirias","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"Energy & Environment, vol. 27 (3), (389-413)","raw_type":"info:eu-repo/semantics/article"}],"best_oa_location":{"id":"doi:10.2139/ssrn.2287302","doi":"https://doi.org/10.2139/ssrn.2287302","is_oa":true,"landing_page_url":"https://doi.org/10.2139/ssrn.2287302","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"acceptedVersion","is_accepted":true,"is_published":false,"raw_source_name":null,"raw_type":"posted-content"},"sustainable_development_goals":[{"display_name":"Affordable and clean energy","id":"https://metadata.un.org/sdg/7","score":0.878000020980835},{"display_name":"Climate action","id":"https://metadata.un.org/sdg/13","score":0.685699999332428}],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":62,"referenced_works":["https://openalex.org/W39941679","https://openalex.org/W84768560","https://openalex.org/W1492095809","https://openalex.org/W1521089879","https://openalex.org/W1546068110","https://openalex.org/W1579072499","https://openalex.org/W1827040667","https://openalex.org/W1837064751","https://openalex.org/W1887819992","https://openalex.org/W1967872601","https://openalex.org/W1968095861","https://openalex.org/W1986917981","https://openalex.org/W1992943799","https://openalex.org/W1995834279","https://openalex.org/W1999155187","https://openalex.org/W2004102913","https://openalex.org/W2008536597","https://openalex.org/W2011732419","https://openalex.org/W2015366559","https://openalex.org/W2016553927","https://openalex.org/W2022389195","https://openalex.org/W2034009401","https://openalex.org/W2034972250","https://openalex.org/W2040503026","https://openalex.org/W2041406445","https://openalex.org/W2042061542","https://openalex.org/W2044133173","https://openalex.org/W2047332514","https://openalex.org/W2055061420","https://openalex.org/W2057466232","https://openalex.org/W2068738661","https://openalex.org/W2070175209","https://openalex.org/W2083228694","https://openalex.org/W2092721657","https://openalex.org/W2093260403","https://openalex.org/W2100902272","https://openalex.org/W2108097174","https://openalex.org/W2111255674","https://openalex.org/W2117178635","https://openalex.org/W2119104230","https://openalex.org/W2127951175","https://openalex.org/W2136120210","https://openalex.org/W2138207917","https://openalex.org/W2143430427","https://openalex.org/W2144836007","https://openalex.org/W2158075871","https://openalex.org/W2166935405","https://openalex.org/W2177756622","https://openalex.org/W2254922629","https://openalex.org/W2316606906","https://openalex.org/W2889842381","https://openalex.org/W3122220309","https://openalex.org/W3123009431","https://openalex.org/W3125505785","https://openalex.org/W3125518972","https://openalex.org/W4205384207","https://openalex.org/W4238813396","https://openalex.org/W4240190234","https://openalex.org/W4241822458","https://openalex.org/W4243932309","https://openalex.org/W4245339249","https://openalex.org/W4248230120"],"related_works":["https://openalex.org/W4226031346","https://openalex.org/W4409201074","https://openalex.org/W4390842871","https://openalex.org/W2899994374","https://openalex.org/W1546068110","https://openalex.org/W3156537232","https://openalex.org/W7106274012","https://openalex.org/W2550639800","https://openalex.org/W4416100616","https://openalex.org/W2725675939"],"abstract_inverted_index":{"This":[0],"article":[1],"studies":[2],"the":[3,12,30,43,124,127,130,137,144],"financial":[4,159],"reward":[5,148],"for":[6,114],"environmental":[7,44,63,77,86,103,149],"performance":[8,32,78,104,128,150],"of":[9,16,110,129,151,157],"firms":[10,24,37,74,83,99,122,154],"in":[11,29,61,96,155],"energy":[13,22,72,81,97,125,152],"sector.":[14,40],"Because":[15],"their":[17,62],"substantial":[18],"impact":[19],"on":[20],"environment,":[21],"sector":[23,73,82,98,153],"convey":[25],"a":[26,92],"particular":[27],"status":[28],"environmental\u2013financial":[31],"question,":[33],"as":[34],"compared":[35],"with":[36,75,84,91,100],"outside":[38,123],"this":[39],"We":[41,65],"use":[42],"scores":[45],"compiled":[46],"by":[47],"Kinder,":[48],"Lyndenberg,":[49],"and":[50,53,70,118],"Domini":[51],"Research":[52],"Analytics":[54],"to":[55],"construct":[56],"two":[57,131],"portfolios":[58,132],"that":[59,143],"differ":[60],"performance.":[64,87],"find":[66],"that,":[67],"between":[68],"2000":[69],"2011,":[71],"good":[76,101],"financially":[79],"outperform":[80],"poor":[85],"A":[88],"portfolio":[89],"strategy":[90],"long":[93],"(short)":[94],"position":[95],"(poor)":[102],"generates":[105],"an":[106],"annual":[107],"abnormal":[108],"return":[109],"9.624%":[111],"after":[112],"correcting":[113],"market,":[115],"size,":[116],"book-to-market":[117],"momentum":[119],"risks.":[120],"For":[121],"sector,":[126],"is":[133],"statistically":[134],"insignificant.":[135],"Using":[136],"VIX":[138],"index,":[139],"we":[140],"also":[141],"show":[142],"market":[145],"does":[146],"not":[147],"periods":[156],"high":[158],"uncertainty.":[160]},"counts_by_year":[{"year":2026,"cited_by_count":5},{"year":2025,"cited_by_count":3},{"year":2024,"cited_by_count":4},{"year":2023,"cited_by_count":6},{"year":2022,"cited_by_count":7},{"year":2021,"cited_by_count":6},{"year":2020,"cited_by_count":3},{"year":2019,"cited_by_count":3},{"year":2017,"cited_by_count":1},{"year":2016,"cited_by_count":1}],"updated_date":"2026-10-14T16:39:01.820549","created_date":"2021-02-01T00:00:00"}
