ICMA Centre Academics' research featured in CFA Digest

Dr Ioannis Oikonomou and Professor Chris Brooks’ work on the connection between corporate social performance and fixed income securities was recently recognised for its academic rigor and practical significance as its summary was included in the latest issue of CFA Digest, a periodical publication of the CFA Institute (available at this link http://www.cfapubs.org/doi/full/10.2469/dig.v44.n6.8).

Dr Ioannis Oikonomou and Professor Chris Brooks’ work on the connection between corporate social performance and fixed income securities was recently recognised for its academic rigor and practical significance as its summary was included in the latest issue of CFA Digest, a periodical publication of the CFA Institute (available at this link http://www.cfapubs.org/doi/full/10.2469/dig.v44.n6.8).

In the words of the CFA institute: “The goal of the CFA Digest is to provide its readers with a convenient way to stay abreast of relevant, practitioner-oriented research and cutting edge thought in the field of finance and investments through the publication of high-quality summaries”.

The paper, entitled “The Effects of Corporate Social Performance on the Cost of Corporate Debt and Credit Ratings” provides findings supportive of a negative association between corporate social responsibility and credit spreads and a positive link between corporate social performance and credit quality − as measured by agency ratings. These conclusions are particularly useful for the multi-billion socially responsible investing (SRI) industry which has been expanding its investment universe from equity to bonds and alternative asset classes.

“We are very happy to see our work being recognised as highly relevant by investment practitioners and having the potential to guide decisions which influence a multitude of different stakeholders”, commented Dr Oikonomou and Professor Brooks.

Professor Chris Brooks

Professor in Finance
Chris Brooks is Professor of Finance at the ICMA Centre. He was formerly Professor of Finance at the Cass Business School, London. He holds a PhD and a BA in Economics and Econometrics, both from the University of Reading. His areas of research interest include asset pricing, fund management, behavioural...

Dr Ioannis Oikonomou

Associate Professor in Finance
Ioannis joined the academic faculty of the ICMA Centre in 2011. He is the Programme Area Director for all ICMA Centre Undergraduate Programmes as well as for the MSc in Behavioural Finance. He is also the module convenor of the undergraduate Portfolio Management course and postgraduate Behavioural Finance course. In...
Published 9th July 2014
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