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
Lin, Z., Ma, C., Weber, O. and Ren, Y.-S. (2025). "Inclusive Mapping of Sustainable Finance and Accounting: A Bibliometric Review", Sustainability Accounting, Management and Policy Journal, 16(2), 618-702.
Abstract
Purpose
Design/methodology/approach
Findings
Practical implications
Social implications
Originality/value
Syed Abul Basher and Perry Sadorsky (2025). "How Important Are Climate Change Risks For Predicting Clean Energy Stock Prices? Evidence From Machine Learning Predictive Modeling And Interpretation", Journal of Climate Finance, 10, 100058.
Keywords
Abstract
The clean energy equity sector plays an important role in the transition to a low-carbon economy. This paper explores the role of climate change risks in predicting the direction of clean energy stock prices (solar, wind, nuclear). We employ machine learning models, including random forests, boosting, extremely randomized trees, and support vector machines, to make our predictions. Variable importance is determined using Shapley/SHAP values. Notably, tree-based ensemble and boosting models show an accuracy exceeding 85 % for the 10 day to 20 day forecast period. For the stock prices of solar, wind, and nuclear energy, inflation expectations and technical indicators (which account for behavioral factors) such as on-balance volume and Williams’ accumulation/distribution are important features within this forecast range. For wind and solar energy stocks moving averages are also important additional features while for nuclear energy stocks economic policy uncertainty and stock market volatility are additional important features. In the five day to twenty day forecast horizon, climate change risks are not important features. These results align with a body of literature that raises concerns about equity prices not fully reflecting climate change risks. An equally weighted portfolio of wind, solar, and nuclear energy stock prices that used trading signals from an Extra Trees prediction model outperformed a buy and hold portfolio in terms of risk adjusted returns. These results are robust to trading costs and weekly or monthly portfolio rebalancing.Juan David Gonzalez-Ruiz, Nini Johana Marín-Rodríguez, Olaf Weber (2024). "New Insights on Social Finance Research in the Sustainable Development Context", Business Strategy & Development, 7(1), e342.
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Research on sustainable finance has experienced significant growth in recent years, but the exploration from a comprehensive perspective is still in its nascent stages. As of July 2023, our research revealed that this area remains relatively underexplored in the existing body of knowledge, leading to a notable lack of comprehensive research analyzing the current state-of-the-art in the social finance arena. To address this gap, our study takes a pioneering approach by utilizing scientometrics and network analysis techniques, specifically employing VOSviewer and Bibliometrix in conjunction with Web of Science and Scopus databases. By merging data from both sources and removing duplicate entries, we established a consolidated database of 401 relevant studies. Through our analysis, we have identified prominent authors, sources, and the most influential studies in the social finance arena. Additionally, we examined the coupling of studies and authors to ascertain their significance in this emerging domain. The results have unveiled several prominent further research, including mainly social banking, Islamic finance, social innovation, the impact of the COVID-19 pandemic, impact investing, social impact bonds, and Sustainable Development Goals. By shedding light on the current landscape, our findings comprehensively understand the field's progress and potential directions. This insight is valuable for market participants, researchers, policymakers, and decision-makers seeking to navigate and contribute to the evolving landscape of sustainable finance with a social focus. Furthermore, our innovative use of scientometrics and network analysis sets a precedent for future research exploring the complex interplay between finance, development, and sustainability.Muhammad Abubakr Naeem, Perry Sadorsky, Sitara Karim (2023). "Sailing across climate-friendly bonds and clean energy stocks: An asymmetric analysis with the Gulf Cooperation Council Stock markets", Energy Economics, 126, 106911.
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This study endeavors to identify the extreme quantile dependence between clean energy stocks and climate-friendly (or green) bonds with GCC stock markets for the period encompassing September 1, 2014 to September 17, 2021. Employing the cross-quantilogram technique, we report higher dependencies between clean energy stocks and the stocks of United Arab Emirates, Qatar, and Saudi Arabia, whereas moderate to lower dependencies exist between clean energy stocks and the stocks of Bahrain, Kuwait, and Oman. Climate-friendly bonds reveal an insignificant correlation with all GCC stocks except the UAE, indicating the diversification benefits of these climate-friendly bonds for GCC stock markets. The recursive cross-quantilogram emphasizes time-varying features where two significant crisis events are spotted as the shale oil crisis and COVID-19 pandemic with a sharp increase in the lower, median, and upper quantiles. Comparing clean energy stocks with climate bonds, clean energy stocks have substantial comovement with GCC stocks while climate bonds have little comovement. Climate friendly bonds are useful for diversifying investments in GCC stocks. Our findings are of particular interest to policymakers, regulators, investors, and portfolio managers who need to understand the relationship between clean energy stocks, green bonds, and GCC stocks.Carè, R., & Weber, O. (2023). "Sustainable Finance: Banks, Sustainability, and Corporate Financial Performance", Sustainable Finance and Financial Crime , 41-61.
Abstract
After a short overview about the history of sustainable banking, the chapter discusses the business case of sustainability and the sustainability case of business in the banking sector. Based on this distinction, we introduce sustainable banking products and services, such as green mortgages and green and sustainability linked bonds. The chapter then provides an overview about the literature on the connection between sustainability performance and corporate financial performance (CFP). Finally, the chapter provides some closing remarks about the evolution of the concept of sustainable banking from the origins to the future challenges.Mirza, M., Dordi, T., Alguindigue, P., Johnson, R., & Weber, O. (2023). "Sustainability in Private Capital Investing: A Systematic Literature Review", Journal of Management and Sustainability, 13(1), 119-138.
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The private capital asset class has grown to over $10 trillion in assets under management and has significant potential to contribute to environmental, social, and governance (ESG) goals. However, there is a dearth of academic research about ESG with regards to private capital investing. This literature review adopted a mixed-methods approach, combining a quantitative (bibliometric) analysis with a qualitative review of the articles. It was found that less than 1% of the literature, written in English, between 1960−2020 on private equity and venture capital addresses topics related to sustainability. It was also observed that the 46 papers which address sustainability topics can be categorized into 13 themes, including certifications and standards, impact investing, and corporate social responsibility. Investment in private securities grew at twice the rate as public securities during the end of this time-period and interest in sustainability integration in private capital investing is growing. Incentives for private equity and venture firms to engage with sustainable investments are being driven by institutional investors, such as pension funds and insurance companies. The focus of sustainability research has typically been on public markets, hindering the potential of private capital investment to influence sustainable policy and practices. The objective of this paper is to provide evidence of the dearth of academic literature on the topic of private capital markets and sustainable investment, while identifying current themes in the existing literature so that future work may address gaps in research.Pashang, S., & Weber, O. (2023). "AI for Sustainable Finance: Governance Mechanisms for Institutional and Societal Approaches", The Ethics of Artificial Intelligence for the Sustainable Development Goals, 203-229.