Latest Publications
May 2022
R&D intensity has been highlighted as an important factor in analyzing the relationship between corporate social (CSP) and corporate financial...
Corporate social and financial performance: Revisiting the role of innovation
February 2022
Corporate carbon performance (CCP) has become a central topic in political, financial, and academic domains. At the same time, several characteristics of...
Corporate social and financial performance: Revisiting the role of innovation
January 2022
In recent years, as total governmental aid has plateaued and developmental funding by heavyweights of humanitarian aid has been cut, the private sector’s role...
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2022
Busch, T., Johnson, M., Pioch, T. (2022): Corporate carbon performance data: Quo vadis? Journal of Industrial Ecology 26 (1), 350-36. Download
Busch, T, Johnson, M., Schnippering, M. (2022): A change will do you good: Does continuous environmental improvement matter? Organization and Environment (in press)
Busch, T., Schnippering, M. (2022): Corporate social and financial performance: Revisiting the role of innovation. Corporate Social Responsibility and Environmental Management 29 (3), 635-645. Download
Carroux, S.L., Busch, T. Paetzold, F. (2022): Unlocking the black box of private impact investors. Qualitative Research in Financial Markets 14 (1), 149-168. Download
Paetzold, F., Busch, T., Utz, S., Kellers, A. (2022): Between impact and returns: Private investors and the sustainable development goals. Business Strategy and the Environment (in press). Download
2021
Busch, T., Bruce-Clark, P., Derwall, J., Eccles, R., Hebb, T., Hoepner, A., Klein, Ch., Krueger, P., Paetzold, F., Scholtens, B. & Weber, O. (2021): Impact investments: a call for (re) orientation. SN Business & Economics 1 (2), 1-13. Download
2020
Busch, T., Bassen, A., Lewandowski, S., Sump, F. (2020): Corporate carbon and financial performance revisited. Organization and Environment (in press). Download
Busch, T. (2020): Industrial ecology, climate adaptation, and financial risk. Journal of Industrial Ecology 24 (2), 285-290. Download
Kaspereit, T., Lopatta, K. & Gastone, L. (2020): Managerial style in cost asymmetry and shareholder value. Journal of Management Accounting Research. Download
Kölbel, J.F., Heeb, F., Paetzold, F., Busch, T. (2020): Can Sustainable Investing Save the World? Reviewing the mechanisms of investment impact. Organization & Environment (in press). Download
Lopatta, K., Bassen, A., Kaspereit, T., Tideman, S. & D. Buchholz (2020): The effect of institutional dual holdings on CSR performance, Journal of Sustainable Finance & Investment, Vol. 10. Download
Lopatta, K., Böttcher, K., Lodhia, S. & Tideman, S. A. (2020): Parity codetermination at the board level and labor investment efficiency, Journal of Business Economics, 90, 57-108. Download
Lopatta, K., Böttcher, K., Lodhia, S. & Tideman, S. A. (2020): The relationship between gender diversity and employee representation at board level and non-financial performance – A crosscountry study, The International Journal of Accounting, Vol. 55. Download
2019
Bassen, A., Gödker, K., Lüdecke-Freund, F. & J. Oll (2019): Climate Information in Retail Investors’ Decision-Making: Evidence from a Choice Experiment, Organization & Environment, Vol. 32, 62-82. Download
Bassen, A., Schiereck, D. & P. Schüler (2019): The Success of the Activist Investor Guy Wyser-Pratte in Continental Europe, Int. J. of Entrepreneurial Venturing, Vol. 11, 24-46. Download
Busch, T. (2019): Klimarisiken im Assetmanagement: Konsistenz der Daten. Absolut Impact 02/2019, 37-43 [in German]
Busch, T. (2019): Markets must back climate mitigation. Nature 571, 36. Download
Busch, T. Orlitzky, M. (2019): On the Links between Corporate Environmental and Financial Performance: Camera or Mirror?, in McWilliams, A., Rupp, D.E., Siegel, D.S., Stahl, G.K., Waldman, D.A. [Eds.]: The Oxford Handbook of Corporate Social Responsibility: Psychological and Organizational Perspectives
Cheung, G., Davis, P. & A. Bassen (2019): In the transition of energy systems: what lessons can be learnt from the German achievement?, Energy Policy, Vol. 132, 633-646. Download
Kölbel, J.F., Busch, T. (2019): Signaling legitimacy across institutional contexts – The intermediary role of corporate social responsibility rating agencies. Global Strategy Journal (in press). Download
Louche, C., Busch, T., Crifo, P., Marcus, A. (2019): Financial markets and the transition to a low-carbon economy: challenging the dominant logics. Organization & Environment 32 (1): 3-17. Download
Reimsbach, D., Schiemann, F., Hahn, R., & Schmiedchen, E. (2019). In the eyes of the beholder: Experimental evidence on the contested nature of materiality in sustainability reporting. Organization & Environment. Download
2018
Arnold, M., Bassen, A., Frank, R. (2018): Timing effects of corporate social responsibility disclosure: an experimental study with investment professionals. Journal of Sustainable Finance & Investment, 8(1), 45-71. Download
Bassen, A., Gödker, K., Lüdecke-Freund, F., Oll, J. (2018): Climate information in retail investors’ decision-making: evidence from a choice experiment. Organization & Environment (in press). Download
Bassen, A., Huber, S. (2018): Towards a Sustainability Reporting Guideline in Higher Education, International Journal of Sustainability in Higher Education, Vol. 19, 218-232. Download
Busch, T., Bassen, A., Friede, G. (2018): Performance und Wirkung nachhaltiger Kapitalanlagen, in: Stapelfeldt, M., Granzow, M., Kopp, M. . [ed.]: Greening Finance – Der Weg in eine nachhaltige Finanzwirtschaft, Logos Verlag, Berlin, ISBN 978-3-8325-4564-2, 171-185. Download
Busch, T., Friede, G. (2018): The robustness of the corporate social and financial performance relation: a second-order meta-analysis. Corporate Social Responsibility and Environmental Management 25 (4), 583-608. Download
Busch, T., Hamprecht, J., Waddock, S. (2018): Value(s) for Whom? Creating Value(s) for Stakeholders. Organization & Environment 31 (3): 210-222. Download
Busch, T, Kölbel, J. (2018): ESG-Medienberichterstattung und finanzielles Risiko von Unternehmen. Absolut-Impact 03/2018, 46-51 [in German]
Busch, T., Lewandowski, S. (2018): Corporate carbon and financial performance – a meta-analysis. Journal of Industrial Ecology 22 (4), 745-759. Download
Busch, T., Lewis, M., Friede, G., Bassen, A. (2018): ESG-Faktoren und Unternehmensentwicklung. Absolut-Impact 04/2018, 44-49 [in German]
Guenther, E., Busch, T., Endrikat, J., Guenther, T., & Orlitzky, M. (2018): What we know about the economic payoffs of corporate ecological sustainability, in: Weber, J., Wasieleski, D. [Eds.]: Business and Society 360: Corporate Social Responsibility, Emerald Publishing Limited, Bingley, ISSN: 2514-1759, 325-352. Download
Schiemann, F., Sakhel, A. (2018): Carbon disclosure, contextual factors, and information asymmetry: the case of physical risk reporting. European Accounting Review, 1-28. Download
2017
Basse-Mama, H., Bassen, A. (2017): Neglected disciplinary effects of investor relations: evidence from corporate cash holdings. Journal of Business Economics 87(2), 221-261. Download
Goldhammer, B., Busse, C., Busch, T. (2017): Estimating corporate carbon footprints with externally available data. Journal of Industrial Ecology 21 (5), 1165-1179. Download
Kölbel, J., Busch, T. (2017): The link between ESG and the cost of capital: Implications for investors and CFOs. Corporate Finance 03-04/2017, 85-88
Kölbel, J.F., Busch, T., Jancso, L.M. (2017): How media coverage of corporate social irresponsibly increases financial risk, Strategic Management Journal 38 (11), 2266-2284. Download
Ott, C., Schiemann, F., Günther, T. (2017): Disentangling the determinants of the response and the publication decisions: the case of the Carbon Disclosure Project. Journal of Accounting and Public Policy 36(1), 14-33. Download
Rodriguez Lopez, J.M., Sakhel, A., Busch, T. (2017): Corporate investments and environmental regulation: The role of regulatory uncertainty, regulation-induced uncertainty, and investment history. European Management Journal 35 (1), 91-101. Download
2016
Bassen, A., Schiereck, D., Thamm, C. (2016): Activist shareholders and the duration of supervisory board membership: evidence for the German Aufsichtsrat. Journal of Corporate Ownership and Control 13(2), 521-531. Download
Busch, T., Bauer, R., Orlitzky, M. (2016): Sustainable development and financial markets – old paths and new avenues. Business & Society 55(3): 303-329. Download
Friede, G., Busch, T., Bassen, A. (2016): Auswirkungen von ESG-Faktoren auf die Performance von Finanzanlagen. Absolut-Impact 01/2016, 26-31[in German]. Download
Günther, E. Bassen, A. (Eds.) (2016): Integrated Reporting: Grundlagen, Implementierung, Praxisbeispiele. Schäffer-Poeschel, Stuttgart. Download
Günther, E., Guenther, T., Schiemann, F., Weber, G. (2016): Stakeholder relevance for reporting: explanatory factors of carbon disclosure. Business & Society 55(3), 361-397. Download
Hafenstein, A. Bassen, A. (2016): Influences for using sustainability information in the investment decision-making of non-professional investor. Journal of Sustainable Finance & Investment 6(3), 186-210. Download
Scheck, B., Höchstädter, A.K., Busch, T. (2016): Making money at the expense of the poor? An investigation of individuals’ preferences to impact invest versus donate. ACRN Oxford Journal of Finance and Risk Perspectives 5 (2), 141-163. Download
2015
Friede, G., Busch, T., Bassen, A. (2015): ESG and Financial Performance: Aggregated Evidence from more than 2,000 Empirical Studies. Journal of Sustainable Finance & Investment 5 (4), 210-233. Download
Hahn, R., Reimsbach, D., Schiemann, F. (2015): Organizations, climate change, and transparency: reviewing the literature on carbon disclosure. Organization & Environment 28(1), 80-102. Download
Paetzold, F., Busch, T., Chesney, M. (2015): More than money: exploring the role of investment advisors for sustainable investing. Annals in Social Responsibility 1 (1), 195-223. Download
Schiemann, F., Richter, K., Günther, T. (2015): The relationship between recognised intangible assets and voluntary intellectual capital disclosure. Journal of Applied Accounting Research 16(2), 240-264. Download
2014
Paetzold, F., Busch, T. (2014): Unleashing the powerful few: sustainable investing behavior of wealthy private investors. Organization & Environment 27 (4), 347-467. Download
2013
Bassen, A., Basse-Mama, H. (2013): Contagion effects in the electric utility industry following the Fukushima nuclear accident. Applied Economics 45(24), 3421-3430. Download
Bassen, A., Basse-Mama, H., Koch, N., Bank, T. (2013): Valuation effects of corporate strategic transactions in the cleantech industry. Journal of Business Economics 83(6), 605-630. Download
Koch, N., Bassen, A. (2013): Valuing the carbon exposure of European utilities. The role of fuel mix, permit allocation and replacement investments. Energy Economics 36, 431-443. Download
Schiemann, F., Guenther, T. (2013): Earnings predictability, value relevance, and employee expenses. The International Journal of Accounting 48(2), 149-172. Download
Shrivastava, P., Busch, T. (2013): Avoiding a global carbon crisis: Learning from the financial crisis. Thunderbird International Business Review 55 (6), 647-658. Download
2012
Busch, T., Berger, S.G., Paquin, R. (2012): Managing for Climate Risk, in: Gallagher, D.R. [ed.]: Environmental Leadership: A Reference Handbook. SAGE Publications, Thousand Oaks/CA, ISBN 9781412981507, 527-535.
Weinhofer, G., Busch, T. (2012): Corporate strategies for managing climate risks. Business Strategy and the Environment 22 (2), 121-144. Download
2011
Bassen, A. & Senkl, D. (2011): Environment, Social, Governance (ESG), Die Betriebswirtschaft (DBW), Vol. 71, 506-509. Download
Bassen, A., Rentrop, A. & Zwick, Y. (2011): Deutscher Nachhaltigkeitskodex (DNK) – Konzept, Inhalte und Entwicklungsschritte, Zeitschrift für Umweltpolitik und Umweltrecht, Vol. 34, 359-375. Download
Busch, T. (2011): Which emissions do we need to account for in corporate carbon performance? Journal of Industrial Ecology 15 (1), 160-163. Download
Busch, T., Hoffmann, V.H. (2011): How hot is your bottom-line? Linking carbon and financial performance. Business & Society 50(2), 233 – 265. Download
Busch, T., Stinchfield, B.T., Wood, M.S. (2011): Rethinking sustainability, innovation, and financial performance, in: Marcus, A., Shrivastava, P., Sharma, S., Pogutz, S. [Eds.]: Cross-Sector Leadership for the Green Economy – Integrating Research and Practice on Sustainable Enterprise, Palgrave Publishing, New York, ISBN: 978-0-230-11940-6, 81-105. Download
Ziegler, A., Busch, T., Hoffmann, V.H. (2011): Disclosed corporate responses to climate change and stock performance: An international empirical analysis. Energy Economics 33 (6), 1283-1294. Download
2010
Bassen, A., Basse-Mama, H., Ramaj, H. (2010): Investor relations: a comprehensive overview. Journal für Betriebswirtschaft 60(1), 49-79. Download
Bassen, A., Schiereck, D., Wübben, B. (2010): M&A success of German acquisitions in the USA – evidence from capital market and survey data. Applied Financial Economics 20(7), 543-559. Download
Busch, T. (2010): Corporate carbon performance indicators revisited. Journal of Industrial Ecology 14 (3), 374-377. Download
Schiemann, F., Richter, K., Günther, T. (2010): Voluntary disclosure of intellectual capital items in roadshows and investor conferences: an empirical analysis of DAX30-companies. Journal of Management Control 21(3), 255-275. Download
2009
Busch, T., Hoffmann, V.H. (2009): Ecology-driven real options: an investment framework for incorporating uncertainties in the context of the natural environment. Journal of Business Ethics 90 (2), 295-310. Download
2008
Hoffmann, V.H., Busch, T. (2008): Corporate carbon performance indicators: carbon intensity, dependency, exposure, and risk. Journal of Industrial Ecology 12 (4), 505-520. Download
2007
Busch, T., Hoffmann, V.H. (2007): Emerging carbon constraints for corporate risk management. Ecological Economics 62 (3-4), 518-528. Download
2004
Orbach, T., Busch, T. (2004): Towards sustainable banks and insurance companies, in: Seiler-Hausmann, J.-D., Liedtke, C., von Weizsäcker, E. U. [Eds.]: Eco-Efficiency and Beyond, Greenleaf Publishing, Sheffield, ISBN 1874719608, 177-181. Download
2003
Bals, C., Busch, T., Rostock, S. (2003): Climate change as risk factor for investments – a challenge for the risk and portfolio management of institutional investors, Wuppertal. [in German]