Publications Database

Welcome to the new Schulich Peer-Reviewed Publication Database!

The database is currently in beta-testing and will be updated with more features as time goes on. In the meantime, stakeholders are free to explore our faculty’s numerous works. The left-hand panel affords the ability to search by the following:

  • Faculty Member’s Name;
  • Area of Expertise;
  • Whether the Publication is Open-Access (free for public download);
  • Journal Name; and
  • Date Range.

At present, the database covers publications from 2012 to 2020, but will extend further back in the future. In addition to listing publications, the database includes two types of impact metrics: Altmetrics and Plum. The database will be updated annually with most recent publications from our faculty.

If you have any questions or input, please don’t hesitate to get in touch.


Search Results

Chen, X., Weber, O., & Saravade, V. (2022). "Does It Pay to Issue Green? An Institutional Comparison of Mainland China and Hong Kong’s Stock Markets Toward Green Bonds", Frontiers in Psychology, 13.

Open Access Download

The stock market is an indicator of investor sentiment when it comes to new information
or innovative rm-level products. Green bonds are both innovative and unique in terms
of their higher information disclosures and understanding the impact of sustainable nance
on investor outlook for a company’s stock. Using the comparative case of Mainland China
and Hong Kong’s stock market, weexamine whether green bond announcements from
2016 to 2019 can create signicant investor reactions. By employing the event study
methodology, weconrm that both markets react in a positive way toward green bond
announcements. This reinforces the reputational and nancial benets of green bonds.
Wend that issuers that are non-banks, environmentally friendly rms as well as those
issuing non-general bonds, create a more positive reaction, whereas ownership aspects
do not matter as much for investors. However, even among those issuers listed in both
markets, certain institutional dynamics like strategic framing and source credibility tend
to reinforce a rm’s institutional legitimacy and are seen as being more prominent for
investor reaction. The policy implications of our study show that the stock market reaction
among two connected economies, where previously varying institutional contexts have
resulted in regional differences, are now equally supportive of sustainable nancial markets
like the green bond. As seen with the positive stock market sentiment, governments and
listed issuers can now better align their policies and internal strategies, allowing the
low-carbon transition to bea nancially attractive opportunity for all investors.

Dordi, T., & Weber, O. (2019). "The Impact of Divestment Announcements on the Share Price of Fossil Fuel Stocks", Sustainability, 11(11), 3122.

Open Access Download

Abstract Several prominent institutional investors concerned about climate change have announced their intention or have divested from fossil fuel shares, to limit their exposure to the industry. The act of fossil fuel divestment may directly depress share prices or stigmatize the industry’s reputation, resulting in lower share value. While there has been considerable research conducted on the performance of the fossil fuel industry, there is not yet any empirical evidence that divestment announcements influence share prices. Adopting an event study methodology, this study measures abnormal deviations in stock prices of the top 200 global oil, gas, and coal companies by proven reserves, on days of prominent divestment announcements. Events are analyzed independently and in aggregate. The results make several notable contributions. While many events experienced short-term negative abnormal returns around the event day, the effects of events were more pronounced over longer event windows following the New York Climate March, suggesting a shift in investor perception. The results also find that divestment announcements related to campaigns, pledges, and endorsements all have a significant effect over the short-term event window. Finally, the results control for the general underperformance of the industry over the estimation window, attesting that the price change is caused by divestment announcements. Several robustness tests using alternate expected returns models and statistical tests were conducted to ensure the accuracy of the result. Overall, this study finds that divestment announcements decrease the share price of the fossil fuel companies, and thus, we conclude that ‘divestors’ can influence the share price of their target companies. Theoretically, the result adds new knowledge regarding the efficacy of the efficient market hypothesis in relation to divestment.