Companies face the challenge of combining economic and environmental objectives. An obvious, recurring question is whether, and under what circumstances, an improvement in the environmental performance of a company leads to higher profits. By examining the data on innovation, this study addresses the question of whether environmental innovation (EI) is synergistic with other types of innovation. To this end, we consider separately the efficiency-related competitiveness gains and cost savings due to different types of environmental innovations (EIs) affecting the supply and demand side of a firm’s business. We identify synergistic interactions between EI and certain types of innovation.

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We examine whether board representation of bondholders can be an effective market discipline mechanism to reduce bank risk, using a unique dataset combining information on bondholders and boards of directors of European listed banks. Our results show that the influence of bondholder representatives on the bank board significantly reduces bank risk without impacting profitability.
TRAN Phan Huy Hieu - Burgundy School of Business |
- Research
- Corporate and Market Finance