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Sustainable Financial Markets II

A special issue of Sustainability (ISSN 2071-1050).

Deadline for manuscript submissions: closed (31 October 2020) | Viewed by 5341

Special Issue Editor

Special Issue Information

Dear Colleagues,

After the success of the first volume, the Special Issue on Sustainable Financial Markets II aims to discuss new developments, methods and applications on the sustainability of financial markets. Sustainability is a celebrated topic in the disciplines of business ethics and environmental economics. The preceding Special Issue on Sustainable Financial Markets covered a number of issues related to sustainable banking practices, stock market integration, sustainable customer satisfaction, sustainable stock indices, socially responsible portfolios, investments in climate change solutions, etc. The second volume offers a new opportunity to discuss these and related topics, by examining how sustainable value can be added to firms and society through an analysis of sustainable financial markets and investments.

References:

Arribas, I., Espinós-Vañó, M. D., García, F., & Morales-Bañuelos, P. B. (2019). The Inclusion of Socially Irresponsible Companies in Sustainable Stock Indices. Sustainability, 11(7), 2047.

Busch, T., Bauer, R., & Orlitzky, M. (2016). Sustainable development and financial markets: Old paths and new avenues. Business & Society, 55(3), 303-329.

García, F., González-Bueno, J., Oliver, J., & Riley, N. (2019). Selecting Socially Responsible Portfolios: A Fuzzy Multicriteria Approach. Sustainability, 11(9), 2496.

García‐Martínez, G., Guijarro, F., & Poyatos, J. A. (2019). Measuring the social responsibility of European companies: a goal programming approach. International Transactions in Operational Research, 26(3), 1074-1095.

Guijarro, F. (2019). A Multicriteria Model for the Assessment of Countries’ Environmental Performance. International journal of environmental research and public health, 16(16), 2868.

Igbudu, N., Garanti, Z., & Popoola, T. (2018). Enhancing Bank Loyalty through Sustainable Banking Practices: The Mediating Effect of Corporate Image. Sustainability, 10(11), 4050.

Miller, M. H. (1998). Financial markets and economic growth. Journal of applied corporate finance, 11(3), 8-15.

Pakurár, M., Haddad, H., Nagy, J., Popp, J., & Oláh, J. (2019). The Service Quality Dimensions that Affect Customer Satisfaction in the Jordanian Banking Sector. Sustainability, 11(4), 1113.

Dr. Francisco Guijarro
Guest Editor

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Sustainability is an international peer-reviewed open access semimonthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 2400 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

  • sustainable investments
  • sustainable banking
  • socially responsible funds
  • algorithmic trading

Published Papers (2 papers)

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Research

18 pages, 2455 KiB  
Article
Valuation of the Environmental Effects of Socially Responsible Investments in Europe
by Bogna Janik and Katarzyna Maruszewska
Sustainability 2020, 12(23), 9855; https://0-doi-org.brum.beds.ac.uk/10.3390/su12239855 - 25 Nov 2020
Cited by 4 | Viewed by 2034
Abstract
This paper evaluated the environmental effects of socially responsible investments (SRIs) in European countries and analyzed the differentiation between them in terms of SRIs and selected features in the environmental dimension. The first section of the paper discusses contemporary trends in Europe and [...] Read more.
This paper evaluated the environmental effects of socially responsible investments (SRIs) in European countries and analyzed the differentiation between them in terms of SRIs and selected features in the environmental dimension. The first section of the paper discusses contemporary trends in Europe and in certain European countries, whilst the second compares SR environmental investments and environmental factors in selected European countries from a multidimensional perspective. The aim of the study was to identify and evaluate these trends as well as to find similarities and differences between European countries, and subsequently to indicate groups of countries with similar approaches to pro-ecological investments. In order to solve the problem, descriptive and multidimensional statistical methods were used, namely correspondence analysis (CA). Although the research results clearly revealed upward tendencies in the volume of SR environmental investments in the analyzed period, they nonetheless represent a relatively low share in the total number of socially responsible investments. The overall growth in SRIs in Europe may have resulted from the more intense activities of policymakers in some countries as a consequence of concluding agreements reached during the 21st Conference of the Parties (COP21) in 2015. The results of the study also revealed no significant correlations between SR environmental investments and environmental variables among the European countries analyzed; hence, there is no substantial evidence that investors’ assets contribute to the improvement of the environment. Full article
(This article belongs to the Special Issue Sustainable Financial Markets II)
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20 pages, 4351 KiB  
Article
The Correlation Analysis of Futures Pricing Mechanism in China’s Carbon Financial Market
by Chunguang Sheng, Guangyu Wang, Yude Geng and Lirong Chen
Sustainability 2020, 12(18), 7317; https://0-doi-org.brum.beds.ac.uk/10.3390/su12187317 - 07 Sep 2020
Cited by 12 | Viewed by 2747
Abstract
China, taking the concept of sustainable development as the premise, puts forward Intended Nationally Determined Contributions (INDC) to reduce the greenhouse gas emissions in response to climate change. In this context, with the purpose of seeking solutions to a carbon financial market pricing [...] Read more.
China, taking the concept of sustainable development as the premise, puts forward Intended Nationally Determined Contributions (INDC) to reduce the greenhouse gas emissions in response to climate change. In this context, with the purpose of seeking solutions to a carbon financial market pricing mechanism to build China’s carbon finance market actively and thus achieving the goal of sustainable development, this paper, based on the autoregressive integrated moving average (ARIMA) model, established a carbon price prediction model for the carbon financial market, and studied the relationship between Certified Emission Reduction (CER) futures prices and spot prices, as well as the relationship between European Union allowances (EUA) futures prices and CER futures prices in an empirical manner. In this paper, EUA and CER futures prices of the European Climate Exchange (ECX) and EUA and CER spot prices of the BlueNext Environmental Exchange were selected as research objects. Granger causality test, co-integration test, and ECM were used to form a progressive econometric analysis framework. The results show that firstly, the ARIMA model can effectively predict carbon futures prices; secondly, CER futures prices cannot guide spot price, and the futures pricing function does not play a role in this market; thirdly, EUA futures price can, in the short term, effectively guide the trend of CER futures prices, with the futures pricing function between the two markets. In the long run, however, the future pricing function of the two markets is not obvious. Therefore, great differences among maturity of the two markets, degree of policy influence, and market share lead to the failure of long-run futures pricing functions. Full article
(This article belongs to the Special Issue Sustainable Financial Markets II)
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