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

Shiu-Yik Au, Ming Dong, and Andreanne Tremblay (Forthcoming). "How Much Does Workplace Sexual Harassment Hurt Firm Value?", Journal of Business Ethics.

Open Access Download

Abstract It is widely recognized that workplace sexual harassment has significant negative psychological and personal consequences, and employees facing harassment suffer reductions in productivity. Our contribution is to propose a novel measure of workplace sexual harassment risk and provide a fuller estimation of the firm value impact of sexual harassment. In contrast to recent studies that focus on short-run market reactions to media announcements of harassment scandals, we use employee job reviews to identify low-profile harassment incidents that better reflect the pervasive, toxic environment pertaining to sexual harassment than do newsworthy scandals, and we measure the longer-term effect on firm value starting from the date when harassment risk affects employee morale. We identify firm harassment risk by analyzing employee job reviews and estimate the sexual harassment score (SH) through textual analysis of online job reviews. Our sample of high-SH firms, or firms with unusually high-SH scores, exhibits significant reductions in future stock performance and profitability. For example, firms with a top 2% SH score earn a value-weighted risk-adjusted stock return of − 17% in the 1-year period after high-SH classification, and this damage is concentrated in firms with higher investor attention. Furthermore, high-SH firms experience a decline in operating profitability and an increase in labor costs during a 5-year period around high-SH classification. Our evidence suggests that sexual harassment can cause greater damages to firm value than previously documented.

Ming Dong and Andréanne Tremblay (2021). "Does the Weather Influence Global Stock Returns?", Critical Finance Review, 10, 207-249.

Open Access Download

Abstract We hypothesize that weather’s emotional effects depend on climate and season, and examine the relation between weather (sunshine, wind, rain, snow, and temperature) and index returns separately for each region (cold, hot, and mild countries) and month. We find strong effects of all five weather variables in 49 countries from 1973 to 2012, and all but the sunshine effect vary across temperature regions and seasons. The systematic patterns of weather effects across climates and seasons suggest that weather influences stock returns through investor mood, and that the emotional effects of the weather are stronger and more pervasive than previously documented.

Basher, S., Haug, A. and Sadorsky, P. (2018). "The Impact of Oil-Market Shocks on Stock Returns in Major Oil-Exporting Countries", Journal of International Money and Finance, 86, 264-280.

Open Access Download

Abstract The impact that oil-market shocks have on stock prices in oil exporting countries has implications for both domestic and international investors. We derive the shocks driving oil prices from an oil market model that explicitly identifies speculative trading in the crude oil market. We study the nonlinear relationship of oil price shocks with stock market returns in major oil-exporting countries in a multi-factor Markov-switching framework. Flow oil-demand shocks have a statistically significant impact on stock returns in Canada, Norway, Russia, Kuwait, Saudi Arabia, and the UAE. Idiosyncratic oil-market shocks affect stock returns in Norway, Russia, Kuwait, Saudi Arabia and UAE. Speculative (oil-inventory) shocks impact stock returns in Canada, Russia, Kuwait and the UAE. Flow oil-supply shocks matter for the UK, Kuwait, and UAE. Mexico is the only country where stock returns are unaffected by oil-market shocks. A portfolio that uses the Markov-switching probabilities to switch between equities in the low volatility state and T-bills in the high volatility state outperforms a buy and hold strategy for some countries.

LaGore, W., Mahoney, L. and Thorne, L. (2015). "Standalone Corporate Social Responsibility Reports and Stock Market Returns", Research on Professional Responsibility and Ethics in Accounting, 19, 1-26.

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Abstract Increasingly, U.S. firms voluntarily issue standalone corporate social responsibility (CSR) reports to demonstrate to society a commitment to social and environmental activities (Bebbington, Larrinaga, & Moneva, 2008; Erusalimsky, Gray, & Spence, 2006). To ascertain the effect of standalone CSR reports on investors, we compared the association between CSR performance scores and subsequent stock returns for firms that issue standalone CSR reports versus those that do not. Consistent with a signaling perspective (Akerlof, 1970), we found that firms that voluntarily issue standalone CSR reports have a stronger association between total CSR and CSR strengths and subsequent stock returns than firms that do not. Our findings indicated that investors are relying on standalone CSR reports because they reward CSR performance for firms that issue standalone CSR reports CSR performance for those that do not issue standalone CSR reports.

Dong, M., Au, S. and Tremblay, A. (Forthcoming). "Employee Flexibility, Exogenous Risk, and Firm Value", Journal of Financial and Quantitative Analysis.

Open Access Download

Abstract We hypothesize that employee flexibility enhances firm value by helping firms respond to exogenous shocks. We estimate employee flexibility scores through textual analysis of online job reviews, and find a high flexibility score leads to superior stock returns for firms exposed to external risk. During 2011-2017, the value-weighted hedge portfolio formed on employee flexibility earned a five-factor annualized alpha of 9.5% during periods of high policy uncertainty. Earnings announcement returns also suggest that investors do not fully value workforce flexibility. These results indicate that employee flexibility is a valuable corporate intangible that helps firms to manage risk during uncertain times.