ESG, Material Credit Events, and Credit Risk
Academic Research Spotlight
Duration: 45 minutes
In this recorded webinar, Professor Witold Henisz of The Wharton School of The University of Pennsylvania presents his recent ESG research including the first large-sample empirical study of the mechanisms that link ESG performance to credit risk.
Professor Henisz highlighted:
- Touchstone cases of companies with poor ESG performance undergoing material events further impacting ESG performance, stock performance, and credit spreads
- Sector-level projects (Infrastructure & Commodity Value chains) showing a correlation between specific ESG measures & credit risk
- Multi-industry study using non-financial services firms
Witold J. Henisz, PhD
Professor of Management
The Wharton School
University of Pennsylvania
Witold J. Henisz is the Deloitte & Touche Professor of Management in Honor of Russell E. Palmer, former Managing Partner at Deliotte, The Wharton School of The University of Pennsylvania. His research examines the impact of political hazards on international investment strategy including efforts by multinational corporations to engage in corporate diplomacy to win the hearts and minds of external stakeholders. His research has been published in top-ranked journals in international business, management, international studies and sociology and he is the author of the book “Corporate Diplomacy: Building Reputations and Relationships with External Stakeholders”.
Witold has won multiple teaching awards at the graduate and undergraduate levels and also teaches extensively on the topic of Corporate Diplomacy in open enrollment and custom executive education programs. He served as the academic co-Director in the development of the stakeholder engagement KEROVKA crisis management simulation. He is currently a principal in the political risk management consultancy PRIMA LLC whose recent clients include AngloGold Ashanti, Rio Tinto, Lockheed Martin, Shell Corporation, Dundee Precious Metals, Calvert (Eaton Vance), EY, The World Bank, The Inter-American Development Bank and the International Finance Corporation.
Jim Hawley, PhD
Head, Applied Research
Jim Hawley, PhD is Professor Emeritus of Management, School of Economics and Business at Saint Mary College of California. He is also Head, Applied Research at Truvalue Labs, San Francisco, California, which provides advanced analytics to create sustainability metrics using real-time ESG data.
He is the author of The Rise of Fiduciary Capitalism (2001). Jim is co-editor Corporate Governance Failures: The role of institutional investors in the global financial crisis.(2011), as well as co-editor of The Cambridge Handbook of Institutional Investment and Fiduciary Duty (2014) and The Routledge Handbook of Responsible Investment (2015).