ICMA Centre academics receive research award

Dr Ioannis Oikonomou and Professor Chris Brooks’ work on the connection between firm sustainability and the pricing of corporate bonds was recently honoured with the Outstanding Publication Award from the Financial Review academic journal.

Dr Ioannis Oikonomou and Professor Chris Brooks’ work on the connection between firm sustainability and the pricing of corporate bonds was recently honoured with the Outstanding Publication Award from the Financial Review academic journal.

The Financial Review is an internationally recognised journal which publishes rigorous and original research providing insights into all areas of financial economics. It is the official journal of the Eastern Finance Association (EFA). Every year the editorial team shortlists the papers published in the journal which it deems to be of the highest quality and then the members of the EFA vote the best among them. For 2014, the paper “The Effects of Corporate Social Performance on the Cost of Corporate Debt and Credit Ratings” of Professor Brooks and Dr Oikonomou was announced as the (joint) recipient of the award.

The paper 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.

“Naturally, we are very happy to see our work being honoured in this way by the academic world. It is less than a year ago that the same paper was featured in CFA digest which shows that high quality research can, and should, also be practically relevant”, commented the authors.

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...

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...
Published 1st May 2015
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