Browsing by Author "Trinh HH"

Now showing 1 - 6 of 6
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    Board gender diversity and firm-level climate change exposure: A global perspective
    (Elsevier Inc, 2023-07) Trinh VQ; Trinh HH; Nguyen THH; Vo XV
    This study examines the association between board gender diversity and firm-level climate change exposure. Using a global sample of 14,685 firm-year observations covering 2469 firms across 63 countries from 2000–2021, we find that firms with more gender-diverse boards are likely to exhibit lower climate change exposure. The results remain after we decompose the exposure into three components: exposures to opportunity, physical (e.g., sea level rises), and regulatory shocks (e.g., carbon taxes, cap and trade markets). Our critical mass analysis further confirms that boards with at least two female directors start having such a significant effect.
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    Climate risk disclosures and global sustainability initiatives: A conceptual analysis and agenda for future research
    (ERP Environment and John Wiley and Sons Ltd, 2023-09-11) Ngo T; Le T; Ullah S; Trinh HH
    Climate change impacts, risks and sustainability disclosures have attracted increasing attention from scholars in various streams of the economics and finance literature towards achieving the UN's Sustainable Development Goals (SDGs). Within the stream of climate finance, the global initiatives for corporate social responsibility (CSR) and environment, social and governance (ESG) practices have had important roles in leveraging firms to become more actively involved in environment-related disclosure, in which climate risk reporting is central to evaluating whether and to what extent a firm and its operations are friendly to the environment. Along with the growth of the UN Principles for Responsible Investing in 2005, one of the most recent global initiatives that has been formed is the Taskforce on Climate-Related Financial Disclosures (TCFD), which has considered the climate-related financial disclosure recommendations of G20 finance ministers. Given that TCFD recommendations have recently been released for a broad domain of players (such as banks, investors, insurers and governments) in various countries (e.g., New Zealand, the United States and Japan), we surveyed the most recent studies on the TCFD by using a conceptual framework for climate-related disclosures focusing on studies published worldwide. On the basis of a thorough review, we highlight the essential functions of financial markets and also provide the critical implications for different market players ranging from providers to supporters of the TCFD. Our study offers a timely conceptual review of the TCFD which is critical for stimulating sustainable investments, climate finance and enhanced corporate reporting.
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    Examining the bidirectional nexus between financial development and green growth: International evidence through the roles of human capital and education expenditure
    (Elsevier Ltd, 2022-12) Ngo T; Trinh HH; Haouas I; Ullah S
    In the context of the 2030 Agenda for Sustainable Development by the United Nations, the functionality of financial development is undeniable in the wider economy toward Sustainable Development Goals (SDGs). Using novel panel data of 36 countries over the last decades, the study sheds light on the bi-directional nexus between financial development and green growth where human capital and education expenditure present their central roles in sustainable development. The study provides critical findings to the existing literature on climate change, environment, and sustainability. Following the empirical findings, we provide important insights to regulators, policy makers, and organizations in investigating the substantial contributions of financial development including financial markets and financial institutions where their accessibility, depth, and efficiency need a thorough consideration toward SDGs and mitigating climate change impacts worldwide. Apart from using the multidimensional proxies, the empirical findings are validated by a set of econometric approaches.
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    Housing Charges to Fund Bulk Infrastructure: Innovative or Traditional?
    (Taylor & Francis Group, 14/01/2021) Squires G; Javed A; Trinh HH
    This study investigates whether the use of housing charges is an innovative or traditional instrument in financing bulk infrastructure. It develops a conceptual framework to demonstrate how housing charges are perceived as an innovative model of financing and funding bulk infrastructure. Research focuses on a case study policy pilot infrastructure project in New Zealand, with primary evidence gathered from informed professional stakeholder interviews. The findings highlight that revenue streams are the most common concern when applying the infrastructure funding and financing (IFF) model to deal with bulk infrastructure. Further, as housing charges are a new instrument generating cash flows to finance bulk infrastructure, it is found that financing infrastructure development is only innovative in terms of its mechanics, legislation and policy setting.
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    The impact of climate policy on U.S. environmentally friendly firms: A firm-level examination of stock return, volatility, volume, and connectedness
    (Elsevier B V, 2023-03) Pham L; Hao W; Truong H; Trinh HH
    This paper investigates the green stock market reaction to climate policy events associated with the Paris Agreement and the U.S. presidential elections. We document abnormal returns, volatility and volume reactions to climate policy events among green stocks. However, the magnitude of the reactions varies between the tightening and loosening of climate policy and across subgroups of the green stock markets. Our connectedness analysis further investigates the spillover patterns among individual green stocks and confirms their heterogeneous natures when responding to the occurrence of these climate policy events. By constructing a minimum connectedness portfolio based on the estimated connectedness among these green stocks, we find that investors can substantially reduce their risks. Our findings have strong implications for policy makers in designing policies to effectively promote green investments and mitigate climate change.
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    Top-management compensation and environmental innovation strategy
    (ERP Environment and John Wiley and Sons Ltd, 2023-05-18) Phung G; Trinh HH; Nguyen TH; Trinh VQ
    The increasing awareness of global climate change puts more pressure on firms to reduce their environmental externalities. Managers long ignored this responsibility, which may erode business profits, going against their traditional goals. In this study, we examine the effect of top management's extrinsic incentives (i.e., reward-driven motivation) on corporate environmental innovation strategy (i.e., eco-innovation) using a large dataset of S&P1500 non-financial firms for 2000–2020. The results indicate that firms with greater levels of top-management compensation exhibit higher scores of eco-innovation engagement. The effect holds after we address the endogeneity problem through the quasi-natural experiment using the difference-in-differences analysis on the event of the Paris Agreement 2015. Our further investigations reveal that such a positive impact of managerial incentives on eco-innovation is less intensified in the more polluting industries but more pronounced in more innovative ones.