Environmental and Governance Studies in Banking and Corporate Finance

The dissertation studies determinants and outcomes of different ESG-related business practices in banks and corporations. Specifically, it analyzes the determinants of the issuance of sustainable credits by banks and outcomes of management structures in executive teams of banks and corporations in general. The first study (A1) investigates bank-level determinants and consequences of SCRTs, a special form of credit securitization, and the role they have in the issuance of green loans. The second study (A2) researches how green loan and SLL issuances are affected by banks’ emission reduction targets. The third study (B1) analyzes how the share of women on banks’ executive teams drives inside-out and outside-in systemic risk of banks. The fourth study (B2) investigates how ESG-linked compensation affects ESG-related outcomes of firms and the ESG awareness of firms’ executives for corporations in general.