Directors' Experience and Firm Performance: A Study on Asian Banks

董事经验与公司绩效：亚洲银行研究

• 批准号: 2771548
• 金额: --
• 依托单位: University of Kent
• 依托单位国家: 英国
• 项目类别: Studentship
• 财政年份: 2022
• 资助国家: 英国
• 起止时间: 2022 至 无数据
• 项目状态: 未结题
• 来源: https://gtr.ukri.org/projects?ref=studentship-2771548
• 关键词: Directors; Experience; Firm; Performance; Study

The financial system plays a critical role in shaping any economy, having a huge impact in this highly interconnected globalized world. When this system operates properly, the savings are directed toward investments that improve living standards; when it fails, as it has in recent years, savings are directed toward real estate bubbles and environmentally harmful projects, including those that exacerbate human-induced climate change (Sachs, 2014). To address this pressing need, the United Nations Environment Program-Finance Initiative (UNEP-FI) issued the Principles of Positive Impact Finance in 2017 and the Principles for Responsible Banking in 2019 . Banks started adopting them, realizing the far-reaching impact on their survival and the society at large. When individuals perceive that banks are making funding decisions that are not in the public's best interests, their confidence in them is weakened (Adams, 2021). Hence, a deeper understanding of the dynamics underlying ESG disclosure and the action of both borrowers and banks will help reveal the role of financial institutions in promoting the broader sustainability principles of UNEP-FI. Drawing the individual loan level sample across the world from the LPC DealScan Database, this study will investigate the impact of sustainability on the terms of loan contracts, whether sustainability disclosure is preferred over action, and whether board-level sustainability committees matter in loan contracts with the lending banks compared to less sustainable peers.

金融体系在塑造任何经济体方面都发挥着关键作用，在这个高度相互关联的全球化世界中产生着巨大影响。当这一体系运转正常时，储蓄会流向提高生活水平的投资;当它失败时，就像近年来一样，储蓄会流向真实的房地产泡沫和对环境有害的项目，包括那些加剧人类引起的气候变化的项目（Sachs，2014）。为了满足这一迫切需求，联合国环境规划署金融倡议（UNEP-FI）于2017年发布了《积极影响金融原则》，并于2019年发布了《负责任银行原则》。银行开始采用它们，意识到对它们的生存和整个社会的深远影响。当个人认为银行正在做出不符合公众最佳利益的融资决策时，他们对银行的信心就会减弱（亚当斯，2021）。因此，更深入地了解环境、社会和治理披露的动态以及借款人和银行的行动，将有助于揭示金融机构在促进环境署金融倡议更广泛的可持续性原则方面的作用。本研究从LPC DealScan数据库中抽取全球范围内的单个贷款样本，调查可持续性对贷款合同条款的影响，可持续性披露是否优于行动，以及与可持续性较低的同行相比，董事会可持续性委员会在与贷款银行签订的贷款合同中是否重要。