PhD - Impact of new regulation on firm behaviour

Job Description

EU Sustainable Finance Disclosure Regulation (SFDR) requires investment funds to clearly state their position with respect to their sustainability objectives and their degree of compliance to ESG reporting. The main objective of this regulation is to prevent greenwashing as companies attempt to misuse sustainability labels for marketing purposes (Findlay and Moran, 2019). Sch├╝tze and Stede (2021) describe SFDR as a cornerstone framework requiring managers to declare their constituents’ stance according to the framework of the EU Taxonomy for sustainable activities. The regulation aims to provide a formal system so financial market participants can integrate sustainability factors rather than simple rebranding, while maintaining their usual practices. Practitioners and academics alike are driven to investigate the different facets such regulation will impact in the financial services sector. Few studies have so far investigated the impact of SFDR on the behavior of fund managers and firm management (Cremasco and Boni, 2022; Becker, Martin and Walter, 2022). The objective of this project is to examine the impact of SFDR on financial market participant behaviour. The research also aims to investigate the cost of the SFDR regulation on the funds, firms and investors.

Student Requirements for this Project An honours degree in Business, Finance, Economics or related disciplines.

Funding Status of the Project Self Funded (Scholarship not available. Fees & Materials to be paid by the student. Materials costs not significant)

If you are interested in submitting an application for this project, please complete an Expression of Interest.