The Role of Non-Governmental Organisations in Corporate Governance. [Sole Authored ]. Working Paper. (Available upon request)
Abstract
I examine the governance outcomes induced by NGO campaigns targeting firms. Using a unique dataset on NGO activism that raises ESG issues, I establish an association between these campaigns and several governance outcomes, including forced CEO turnover, executive pay, and the implementation of ESG-linked compensation. I also find that such activism garners shareholder support, as evidenced by a higher number of submitted shareholder resolutions and a higher percentage of dissent votes cast against management-sponsored proposals at AGMs. The findings have important broader implications for policymakers and practitioners.
Presented: GRASFI PhD Workshop 2025 and University of Exeter Finance and Accounting Research Events 2025
The Real Effects of NGO Activism, [Sole Authored]. Work in Progress.
Abstract
A growing literature in economics and finance provides evidence that peers play a key role in shaping a firm’s behaviour. In this paper, I extend this literature by examining the first-order and peer effects of NGO activism on firms’ environmental performance. I find that firms react to advocacy campaigns targeting their product-market peers by increasing their environmental disclosure. I further show that such activism translates into real outcomes, such as reductions in environmental violations and greenhouse gas emissions.
Public-Benefit Trade-Off in Public Benefit Corporations [Sole Authored ]. Unfinished Work (We all have one, don't we!)
An unfinished doctoral paper intended to measure whether there is a trade-off between pursuing E&S objectives as legal requirements for Public Benefit Corporations and the profit-seeking agenda.
The Climate Talk of Revolving Doors. [Sole Authored ]. Work in Progress. (Available upon request)
Abstract
I explore whether and how corporate political connections established through politicians joining the board of directors and government procurement contracts trigger environmental and social (E&S) disclosure and performance by the connected firms. Tracking the employment history of over 200,000 directors, data on government procurement contracts of US firms, I find that while connected firms have higher voluntary disclosure of E&S information, this disclosure does not translate into environmental performance. The results suggest “greenwashing” by connected firms.
Presented at: CSR, the Economy and Financial Markets Conference 2023; WHU - Otto Beisheim School of Management, Düsseldorf, Germany
Heterogeneity of Political Connections and Corporate Risk. [Sole Authored ]. MRes Dissertation. (Available upon request)
Abstract
MRes dissertation with the potential to expand. It aims to compare the overall financial impact, particularly corporate risk implications of corporate political connections.