Sabrine Ayed

@article{ayed_2557,

title = {Climate Policy Uncertainty and Corporate Dividends},

author = {Sabrine Ayed and Walid Ben-Amar and Mohamed Arouri},

url = {https://www.sciencedirect.com/science/article/pii/S154461232301320X},

year  = {2024},

date = {2024-02-01},

journal = {Finance Research Letters},

volume = {60},

pages = {104948},

abstract = {This paper investigates whether climate policy uncertainty (CPU) matters to a firm's dividend policy. Using Gavriilidis's (2021) novel measure of uncertainty related to climate policy and a large sample of US publicly traded firms over the period 1987-2022, we found a positive association between CPU and dividend payouts. This association is stronger for firms with talented managers and less pronounced for firms in climate sensitive industries and headquartered in US States with more stringent environmental regulations. These results contribute to the nascent literature on the implications of uncertainty related to climate policy to corporate financial decisions.},

keywords = {},

pubstate = {published},

tppubtype = {article}

}

@article{ayed_2412,

title = {LGBT discrimination and harassment, firm value, and reputation repair},

author = {Sabrine Ayed and Timothée Waxin},

url = {https://www.sciencedirect.com/science/article/pii/S1057521923003587},

year  = {2023},

date = {2023-11-01},

journal = {International Review Of Financial Analysis},

volume = {90},

pages = {102842},

abstract = {This paper analyzes the market reaction to the reported discrimination against or harassment of LGBT stakeholders (i.e., employees and customers) using a unique hand-collected sample consisting of 167 events worldwide. The results show a negative and significant average effect following the announcement of an LGBT misconduct incident, with an around 0.5% abnormal decrease in market value over the event day and the next trading day. The average magnitude of impact is significantly lower after the #MeToo movement, suggesting that investors tend to be less indulgent regarding inappropriate behavior based on sexual orientation. We also find that firms experiencing a large negative magnitude of impact perform concrete corrective actions to repair their tarnished reputation.},

keywords = {},

pubstate = {published},

tppubtype = {article}

}

@article{arouri_2187,

title = {Are socially responsible companies harder to arbitrage?},

author = {Mohamed Arouri and Sabrine Ayed and Mathieu Gomes},

url = {https://hal.science/hal-03904838/},

year  = {2023},

date = {2023-04-01},

journal = {Management International},

volume = {27},

number = {1},

pages = {141-156},

abstract = {We examine how corporate social responsibility (CSR)

affects limits to arbitrage. Using a sample of S&P 500

firms from 2002 to 2020, our findings indicate that firms

with high CSR performance are associated with a higher

degree of limits to arbitrage. Those findings are confirmed

when using only social and environmental dimensions,

and when testing the relationship between CSR and each

limits-to-arbitrage component separately. Our findings

hold when using an alternative measure of limits to

arbitrage and are robust to endogeneity checks. Our study

suggests that CSR makes arbitrage activity harder and

riskier, thereby leading to mispricing.},

keywords = {},

pubstate = {published},

tppubtype = {article}

}

@article{ajina_1035,

title = {Does Corporate Social Responsibility Reduce Earnings Management? The Moderating Role of Corporate Governance and Ownership},

author = {Aymen Ajina and Faten Lakhal and Sabrine Ayed},

url = {https://id.erudit.org/iderudit/1060030ar CopiedAn error has oc},

year  = {2019},

date = {2019-09-01},

journal = {Management International},

volume = {23},

number = {2},

pages = {45-55},

abstract = {The purpose of this paper is to investigate the relationship between corporate social responsibility and earnings management and the moderating effect of corporate governance and ownership structure on this relationship. Using panel data for a sample of French listed companies between 2010 and 2013, we find that CSR engagementconstrain earnings management practices suggesting that managers would comply with the ethical requirements and satisfy stakeholders' interests. The results also show that the effect of CSR on earnings management is particularly stronger in more independent boards and with high institutional ownership structure. These corporate governance devices help mitigating managerial opportunistic behavior.},

keywords = {},

pubstate = {published},

tppubtype = {article}

}