{"id":"https://openalex.org/W7204257667","doi":"https://doi.org/10.2139/ssrn.7354444","title":"No ESG, No Problem? Evidence from the Stock Market\u2019s Reaction to Financial Penalties","display_name":"No ESG, No Problem? Evidence from the Stock Market\u2019s Reaction to Financial Penalties","publication_year":2026,"publication_date":"2026-01-01","ids":{"openalex":"https://openalex.org/W7204257667","doi":"https://doi.org/10.2139/ssrn.7354444"},"language":"en","primary_location":{"id":"doi:10.2139/ssrn.7354444","doi":"https://doi.org/10.2139/ssrn.7354444","is_oa":true,"landing_page_url":"https://doi.org/10.2139/ssrn.7354444","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":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"posted-content"},"parent_works":[],"lineage":["https://openalex.org/W7204257667"],"child_works_count":0,"type":"preprint","is_traditional":true,"indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"https://doi.org/10.2139/ssrn.7354444","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5051241021","display_name":"V\u00e1clav Bro\u017e","orcid":"https://orcid.org/0000-0001-7393-2165","observed_orcids":["https://orcid.org/0000-0001-7393-2165"]},"institutions":[{"id":"https://openalex.org/I21250087","display_name":"Charles University","ror":"https://ror.org/024d6js02","country_code":"CZ","type":"education","lineage":["https://openalex.org/I21250087"]},{"id":"https://openalex.org/I35913352","display_name":"Prague University of Economics and Business","ror":"https://ror.org/029ecwj92","country_code":"CZ","type":"education","lineage":["https://openalex.org/I35913352"]}],"countries":["CZ"],"is_corresponding":false,"raw_author_name":"V\u00e1clav Bro\u017e","raw_affiliation_strings":["Charles University in Prague, Faculty of Social Sciences, Institute of Economic Studies, Students, Opletalova 26, Praha 1, Czech Republic","Prague University of Economics and Business, Czech Republic"],"raw_orcid":"https://orcid.org/0000-0001-7393-2165","affiliations":[{"raw_affiliation_string":"Charles University in Prague, Faculty of Social Sciences, Institute of Economic Studies, Students, Opletalova 26, Praha 1, Czech Republic","institution_ids":["https://openalex.org/I21250087"]},{"raw_affiliation_string":"Prague University of Economics and Business, Czech Republic","institution_ids":["https://openalex.org/I35913352"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5029061525","display_name":"Stephanie Monteiro Miller","orcid":"https://orcid.org/0000-0002-8044-2903","observed_orcids":["https://orcid.org/0000-0002-8044-2903"]},"institutions":[{"id":"https://openalex.org/I43267033","display_name":"Quinnipiac University","ror":"https://ror.org/00mpz5a50","country_code":"US","type":"education","lineage":["https://openalex.org/I43267033"]}],"countries":["US"],"is_corresponding":true,"raw_author_name":"Stephanie Miller","raw_affiliation_strings":["Quinnipiac University School of Business, United States"],"raw_orcid":"https://orcid.org/0000-0002-8044-2903","affiliations":[{"raw_affiliation_string":"Quinnipiac University School of Business, United States","institution_ids":["https://openalex.org/I43267033"]}]}],"institutions":[],"countries_distinct_count":2,"institutions_distinct_count":3,"corresponding_author_ids":["https://openalex.org/A5029061525"],"corresponding_institution_ids":["https://openalex.org/I43267033"],"apc_list":null,"apc_paid":null,"fwci":null,"has_fulltext":false,"cited_by_count":0,"citation_normalized_percentile":null,"cited_by_percentile_year":null,"biblio":{"volume":null,"issue":null,"first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10115","display_name":"Corporate Social Responsibility Reporting","score":0.7089999914169312,"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":0.7089999914169312,"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/T10047","display_name":"Financial Markets and Investment Strategies","score":0.18809999525547028,"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/T10019","display_name":"Corporate Finance and Governance","score":0.030700000002980232,"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/corporate-misconduct","display_name":"corporate misconduct","score":0.8360000252723694},{"id":"https://openalex.org/keywords/stock-market-reaction","display_name":"stock market reaction","score":0.8999999761581421},{"id":"https://openalex.org/keywords/abnormal-returns","display_name":"abnormal returns","score":0.7639999985694885},{"id":"https://openalex.org/keywords/environmental-penalties","display_name":"environmental penalties","score":0.8840000033378601},{"id":"https://openalex.org/keywords/recidivism","display_name":"recidivism","score":0.9810000061988831},{"id":"https://openalex.org/keywords/event-study","display_name":"event study","score":0.6039999723434448}],"concepts":[{"id":"https://openalex.org/C39389867","wikidata":"https://www.wikidata.org/wiki/Q380767","display_name":"Corporate governance","level":2,"score":0.7195000052452087},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.5667999982833862},{"id":"https://openalex.org/C204036174","wikidata":"https://www.wikidata.org/wiki/Q909380","display_name":"Stock (firearms)","level":2,"score":0.5501000285148621},{"id":"https://openalex.org/C12958728","wikidata":"https://www.wikidata.org/wiki/Q1002530","display_name":"Event study","level":3,"score":0.5325000286102295},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.5008999705314636},{"id":"https://openalex.org/C2780299701","wikidata":"https://www.wikidata.org/wiki/Q475000","display_name":"Stock market","level":3,"score":0.4708999991416931},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.36149999499320984},{"id":"https://openalex.org/C118671147","wikidata":"https://www.wikidata.org/wiki/Q578714","display_name":"Quantile","level":2,"score":0.36090001463890076},{"id":"https://openalex.org/C2780587575","wikidata":"https://www.wikidata.org/wiki/Q6875295","display_name":"Misconduct","level":2,"score":0.3377000093460083},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.3370000123977661},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.3343999981880188},{"id":"https://openalex.org/C110121322","wikidata":"https://www.wikidata.org/wiki/Q865811","display_name":"Distribution (mathematics)","level":2,"score":0.32749998569488525},{"id":"https://openalex.org/C19244329","wikidata":"https://www.wikidata.org/wiki/Q208697","display_name":"Financial market","level":2,"score":0.30730000138282776},{"id":"https://openalex.org/C2777644927","wikidata":"https://www.wikidata.org/wiki/Q2300947","display_name":"Social cost","level":2,"score":0.2786000072956085},{"id":"https://openalex.org/C63817138","wikidata":"https://www.wikidata.org/wiki/Q3455889","display_name":"Quantile regression","level":2,"score":0.27070000767707825},{"id":"https://openalex.org/C6180225","wikidata":"https://www.wikidata.org/wiki/Q3411771","display_name":"Penalty method","level":2,"score":0.2587999999523163}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.2139/ssrn.7354444","doi":"https://doi.org/10.2139/ssrn.7354444","is_oa":true,"landing_page_url":"https://doi.org/10.2139/ssrn.7354444","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":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"posted-content"}],"best_oa_location":{"id":"doi:10.2139/ssrn.7354444","doi":"https://doi.org/10.2139/ssrn.7354444","is_oa":true,"landing_page_url":"https://doi.org/10.2139/ssrn.7354444","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":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"posted-content"},"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":46,"referenced_works":["https://openalex.org/W1964683146","https://openalex.org/W1980073692","https://openalex.org/W1994368223","https://openalex.org/W2012566205","https://openalex.org/W2031892005","https://openalex.org/W2033910434","https://openalex.org/W2034009401","https://openalex.org/W2034378555","https://openalex.org/W2073928172","https://openalex.org/W2076367398","https://openalex.org/W2103200671","https://openalex.org/W2119104230","https://openalex.org/W2128778916","https://openalex.org/W2162412465","https://openalex.org/W2162523959","https://openalex.org/W2165834268","https://openalex.org/W2463889527","https://openalex.org/W2560158845","https://openalex.org/W2590931067","https://openalex.org/W2731095755","https://openalex.org/W2752704646","https://openalex.org/W2755824993","https://openalex.org/W2793429476","https://openalex.org/W2794322878","https://openalex.org/W3009020021","https://openalex.org/W3092472520","https://openalex.org/W3121212608","https://openalex.org/W3122177468","https://openalex.org/W3122978481","https://openalex.org/W3123431518","https://openalex.org/W3125969130","https://openalex.org/W3132612524","https://openalex.org/W3166540360","https://openalex.org/W4237239309","https://openalex.org/W4251258583","https://openalex.org/W4290007224","https://openalex.org/W4309879884","https://openalex.org/W4386578757","https://openalex.org/W4389383069","https://openalex.org/W4395693833","https://openalex.org/W4396840864","https://openalex.org/W4396935142","https://openalex.org/W4399463405","https://openalex.org/W4402898997","https://openalex.org/W4412187066","https://openalex.org/W4414626773"],"related_works":["https://openalex.org/W4412049387","https://openalex.org/W7223185129","https://openalex.org/W6997445451","https://openalex.org/W4399463405","https://openalex.org/W3027253695","https://openalex.org/W2602949991","https://openalex.org/W4303940646","https://openalex.org/W7170419824","https://openalex.org/W7125687067","https://openalex.org/W7166819242"],"abstract_inverted_index":null,"counts_by_year":[],"updated_date":"2026-11-09T13:22:03.289127","created_date":"2026-08-27T00:00:00"}
