This paper investigates the role of environmental, social, and governance (ESG) performance in stock prices during the market financial crisis caused by the COVID-19 pandemic. We use the Chinese listed company data as the bases for adopting an event-study method to identify the impact of ESG performance on cumulative abnormal returns. Empirical results suggest that ESG performance significantly increases firms’ cumulative abnormal returns and has asymmetric effects during the pandemic. Our results are robust to various robustness checks that consider the replacement of event window period, ESG measurement, adding other control variables, and sample exclusion of Hubei Province. We further find that reputation and insurance effects are important mechanisms through which ESG performance influences stock prices. Lastly, heterogeneous analyses show that ESG effects are considerably pronounced among firms with low human capital and bad image and in high-impact regions.

Wind energy is considered as one of the most prominent sources of energy for sustainable development. This technology is of interest owing to its capability to produce clean, eco-friendly, and cost-effective energy for small-scale users and rural areas where grid power availability is insufficient. Wind power generation has developed rapidly in the past decade and is expected to play a vital role in the economic development of countries. Therefore, studying dominant economic factors is crucial to properly approach public and private financing for this emerging technology, as industrial growth and energy demands may outpace further economic studies earlier than expected. In this study, a strategy-focused method for performing economic analysis on wind energy based on financial net present value, levelized cost of energy, internal rate of return, and investment recovery period is presented. Numerical and simulation results depict the most optimal and economical system from a 3 and a 10 kW wind energy conversion system (WECS). Moreover, the aforementioned criteria are used to determine which WECS range is the most suitable investment with the shortest payback period. Finally, an economically viable and profitable wind energy system is recommended.

This study aims to analyze the repercussions of the Russia–Ukraine conflict on the Russian financial market, focusing on the main stock market and sectorial stock indices. High-frequency hourly data from September 12, 2021, to April 29, 2022, covering the period before and after the outbreak of conflict, is utilized for analysis. The empirical investigation employs the TVP-VAR and Quantile-VAR connectedness approaches. Our findings indicate a significant impact of the conflict on the Russian stock market, leading to increased market risk during the event period. Notably, certain sectors, including oil and gas, utilities, metals & mining, financials, consumer goods, and services exerted more influence on other sectors, while chemicals, transport, and telecoms were influenced by other sectors. These insights are crucial for comprehending the financial implications of the ongoing conflict on the local economy, providing valuable guidance to portfolio managers, investors, and policymakers in devising effective financial strategies.