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The Impact of Single Supervisory Mechanism on the Profitability of Euro Area Banks that Adopt ESG Practices.

紀錄類型:	書目-電子資源 : Monograph/item
正題名/作者:	The Impact of Single Supervisory Mechanism on the Profitability of Euro Area Banks that Adopt ESG Practices./
作者:	Santos, Sabrina Micaela Costa.
出版者:	Ann Arbor : ProQuest Dissertations & Theses, : 2021,
面頁冊數:	63 p.
附註:	Source: Dissertations Abstracts International, Volume: 84-01, Section: A.
Contained By:	Dissertations Abstracts International84-01A.
標題:	Decision making. -
電子資源:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=29140240
ISBN:	9798835558094

The Impact of Single Supervisory Mechanism on the Profitability of Euro Area Banks that Adopt ESG Practices.
Santos, Sabrina Micaela Costa.

The Impact of Single Supervisory Mechanism on the Profitability of Euro Area Banks that Adopt ESG Practices. - Ann Arbor : ProQuest Dissertations & Theses, 2021 - 63 p.

Source: Dissertations Abstracts International, Volume: 84-01, Section: A.

Thesis (M.Fin.)--Universidade do Porto (Portugal), 2021.

This item must not be sold to any third party vendors.

The 2008 financial crisis and the subsequent eurozone sovereign debt crisis highlighted the need for more centralization of banking supervision at the European level. Therefore, in 2014, it was implemented the Single Supervisory Mechanism (SSM), by which the European Central Bank is responsible to supervise, together with the national supervisory authorities, the most significant banks in the euro area. In addition to changes in the European regulatory and supervisory framework, the 2008 financial crisis also boosted the adoption of environmental, social and governance (ESG) practices by banks, as a way of recovering their reputation among the community and accomplish with the United Nations Sustainable Development Goals. The purposes of the present dissertation are: (1) to study the impact of the adoption of ESG practices on profitability; (2) the impact of the implementation of SSM on profitability and (3) the joint impact of the adoption of ESG practices and the implementation of SSM on profitability. In our analysis, we consider the return on average assets as proxy of profitability, use a difference-in-differences approach and a balanced data panel of 128 European banks under the 2011-2019 period. The results suggest: (1) a positive impact of the adoption of ESG practices on profitability; (2) a negative impact of the implementation of SSM on profitability and (3) a neutral impact of the implementation of SSM on ESG-profitability relationship. The positive impact of the adoption of ESG practices on profitability is higher for banks operating in countries where the size of the banking sector is smaller, market concentration is greater and the institutional environment is better. Differences in the market context and in the institutional environment in which banks operate do not influence the way the implementation of SSM impacts profitability and ESG-profitability relationship.

ISBN: 9798835558094Subjects--Topical Terms:

517204
Decision making.

The Impact of Single Supervisory Mechanism on the Profitability of Euro Area Banks that Adopt ESG Practices.
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500 $a Source: Dissertations Abstracts International, Volume: 84-01, Section: A.
500 $a Advisor: Alves, Professor Carlos Francisco Ferreira.
502 $a Thesis (M.Fin.)--Universidade do Porto (Portugal), 2021.
506 $a This item must not be sold to any third party vendors.
520 $a The 2008 financial crisis and the subsequent eurozone sovereign debt crisis highlighted the need for more centralization of banking supervision at the European level. Therefore, in 2014, it was implemented the Single Supervisory Mechanism (SSM), by which the European Central Bank is responsible to supervise, together with the national supervisory authorities, the most significant banks in the euro area. In addition to changes in the European regulatory and supervisory framework, the 2008 financial crisis also boosted the adoption of environmental, social and governance (ESG) practices by banks, as a way of recovering their reputation among the community and accomplish with the United Nations Sustainable Development Goals. The purposes of the present dissertation are: (1) to study the impact of the adoption of ESG practices on profitability; (2) the impact of the implementation of SSM on profitability and (3) the joint impact of the adoption of ESG practices and the implementation of SSM on profitability. In our analysis, we consider the return on average assets as proxy of profitability, use a difference-in-differences approach and a balanced data panel of 128 European banks under the 2011-2019 period. The results suggest: (1) a positive impact of the adoption of ESG practices on profitability; (2) a negative impact of the implementation of SSM on profitability and (3) a neutral impact of the implementation of SSM on ESG-profitability relationship. The positive impact of the adoption of ESG practices on profitability is higher for banks operating in countries where the size of the banking sector is smaller, market concentration is greater and the institutional environment is better. Differences in the market context and in the institutional environment in which banks operate do not influence the way the implementation of SSM impacts profitability and ESG-profitability relationship.
520 $a A crise financeira de 2008 e a subsequente crise da divida soberana da zona euro evidenciaram a necessidade de uma maior centralizacao da supervisao bancaria a nivel Europeu. Por conseguinte, em 2014, foi implementado o Mecanismo Unico de Supervisao (MUS), segundo o qual o Banco Central Europeu e responsavel pela supervisao, em conjunto com as autoridades nacionais competentes, dos bancos mais significativos da area do euro. Para alem das mudancas no enquadramento regulatorio e de supervisao Europeu, a crise financeira de 2008 tambem impulsionou a adocao de praticas ESG (environmental, social and governance) por parte dos bancos, como forma de recuperarem a sua reputacao entre a comunidade e cumprirem os Objetivos de Desenvolvimento Sustentavel das Nacoes Unidas. Os propositos da presente dissertacao sao: (1) estudar o impacto da adocao de praticas ESG na rentabilidade; (2) estudar o impacto da implementacao do MUS na rentabilidade e (3) o impacto conjunto da adocao de praticas ESG e da implementacao do MUS na rentabilidade. Na nossa analise, consideramos a rentabilidade sobre os ativos medios como proxy de rentabilidade, utilizamos uma abordagem diference-in-differences e um painel equilibrado de dados de 128 bancos Europeus no periodo 2011-2019. Os resultados sugerem: (1) um impacto positivo da adocao de praticas ESG na rentabilidade; (2) um impacto negativo da implementacao do MUS na rentabilidade e (3) um impacto neutro da implementacao do SSM na relacao ESG-rentabilidade. O impacto positivo da adocao de praticas ESG na rentabilidade e maior para os bancos que operam em paises onde a dimensao do setor bancario e menor, a concentracao de mercado e maior e o ambiente institucional e melhor. Diferencas no contexto de mercado e no ambiente institucional em que os bancos operam nao influenciam a forma como a implementacao do MUS impacta a rentabilidade e a relacao ESG-rentabilidade.
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