All Outputs (17)

Firm biodiversity risk, climate vulnerabilities, and bankruptcy risk (2024)
Journal Article
Adamolekun, G. (2024). Firm biodiversity risk, climate vulnerabilities, and bankruptcy risk. Journal of International Financial Markets, Institutions and Money, 97, Article 102075. https://doi.org/10.1016/j.intfin.2024.102075

This study examines the relationship between firms’ biodiversity risk, climate susceptibility, and bankruptcy risk. The findings indicate that firm exposure to biodiversity risk increases the likelihood of financial distress. Furthermore, we document... Read More about Firm biodiversity risk, climate vulnerabilities, and bankruptcy risk.

CEO hubris and corporate carbon footprint: The role of gender diversity (2024)
Journal Article
Kwabi, F., Fulgence, S., & Adamolekun, G. (2024). CEO hubris and corporate carbon footprint: The role of gender diversity. Business Strategy and the Environment, 33(8), 8102-8125. https://doi.org/10.1002/bse.3909

This paper investigates the effect of an overconfident CEO on firm greenhouse gas emissions. Using panel data of 160,115 firm-year observations from 41 countries for 2000–2021, we find a negative relationship between CEO overconfidence and greenhouse... Read More about CEO hubris and corporate carbon footprint: The role of gender diversity.

Corporate carbon footprint and market valuation of restructuring announcements (2024)
Journal Article
Adamolekun, G., & Kyiu, A. (online). Corporate carbon footprint and market valuation of restructuring announcements. Review of Quantitative Finance and Accounting, https://doi.org/10.1007/s11156-024-01315-y

The call for greener and more sustainable corporate practices triggered a surge in corporate restructuring. In this study, we investigate the impact of carbon emissions on the market reaction to announcements of corporate restructuring activities. Us... Read More about Corporate carbon footprint and market valuation of restructuring announcements.

Firm-level pollution and membership of emission trading schemes (2024)
Journal Article
Adamolekun, G., Adedoyin, F. F., & Siganos, A. (2024). Firm-level pollution and membership of emission trading schemes. Journal of Environmental Management, 351, Article 119970. https://doi.org/10.1016/j.jenvman.2023.119970

Several firms have joined emission trading schemes in response to the call for corporate climate action. Using a comprehensive international data set on corporate membership of emission trading schemes (ETSs), we find that members of the scheme emit... Read More about Firm-level pollution and membership of emission trading schemes.

Carbon price and firm greenhouse gas emissions (2023)
Journal Article
Adamolekun, G. (2024). Carbon price and firm greenhouse gas emissions. Journal of Environmental Management, 349, Article 119496. https://doi.org/10.1016/j.jenvman.2023.119496

Drawing on the recent enthusiasm in the carbon markets, I examine the impact of carbon prices on firm greenhouse gas (GHG) emissions. Using a sample of 1591 firms from 23 European countries, I demonstrate that an increase in carbon price decreases co... Read More about Carbon price and firm greenhouse gas emissions.

Emissions trading scheme participation and firms’ cash holdings (2023)
Journal Article
Sakariyahu, R., Lawal, R., Kwansa, N. A., Ahmed, A., & Adamolekun, G. (2023). Emissions trading scheme participation and firms’ cash holdings. Finance Research Letters, 58(Part C), Article 104565. https://doi.org/10.1016/j.frl.2023.104565

This study investigates the effect of participating in an emissions trading scheme (ETS) on firms' future cash holdings. Using global firm-level data from different continents, our findings show that, notwithstanding the benefits of ETS, its membersh... Read More about Emissions trading scheme participation and firms’ cash holdings.

Origin Region Wealth Effect and Inbound Tourism to Europe (2023)
Journal Article
Adamolekun, G., & Kladakis, G. (2024). Origin Region Wealth Effect and Inbound Tourism to Europe. Tourism Analysis, 29(2), 239-256. https://doi.org/10.3727/108354223x16951532650252

Despite the role of wealth in modelling the propensity to consume luxurious goods and services, the literature has so far neglected the role of wealth as inferred from the stock market in modelling tourism inflow. Using 43 European countries over the... Read More about Origin Region Wealth Effect and Inbound Tourism to Europe.

Electronic trading and stock market participation in Africa: Does technology induce participation? (2023)
Journal Article
Adamolekun, G., Sakariyahu, R., Lawal, R., & Ahmed, A. (2023). Electronic trading and stock market participation in Africa: Does technology induce participation?. Economics Letters, 224, Article 110991. https://doi.org/10.1016/j.econlet.2023.110991

This study examines the effect of migrating to electronic trading platforms on stock market participation among African stock exchanges. Using Bayesian estimations, we demonstrate that transitioning from a physical to an electronic stock exchange dec... Read More about Electronic trading and stock market participation in Africa: Does technology induce participation?.

Excess Cash Holdings, Stock Returns, and Investment Organicity: Evidence from UK Investment Announcements (2022)
Journal Article
Jones, E., Li, H., & Adamolekun, O. (2022). Excess Cash Holdings, Stock Returns, and Investment Organicity: Evidence from UK Investment Announcements. Abacus, 58(4), 603-647. https://doi.org/10.1111/abac.12275

This paper examines whether the market reaction to investment announcements is conditional on company excess cash holdings. Cash may convey significant price-relevant information about the future cash flows and strategic direction of a company. Using... Read More about Excess Cash Holdings, Stock Returns, and Investment Organicity: Evidence from UK Investment Announcements.

Supply side sentiments and international travel: a novel dynamic simulation of policy options for business and investor sentiments (2022)
Journal Article
Adamolekun, G., Adedoyin, F. F., & Ozturk, I. (2025). Supply side sentiments and international travel: a novel dynamic simulation of policy options for business and investor sentiments. Journal of Policy Research in Tourism, Leisure and Events, 17(1), 90-112 . https://doi.org/10.1080/19407963.2022.2142235

The tourism literature widely documents how emotions, mood and optimism drive the demand for tourism. However, the literature is mute on whether sentiment plays a role in the supply side. We use a forward-looking forecasting model to investigate the... Read More about Supply side sentiments and international travel: a novel dynamic simulation of policy options for business and investor sentiments.

Corporate carbon emissions and market valuation of organic and inorganic investments (2022)
Journal Article
Adamolekun, G., Kwansa, N. A., & Kwabi, F. (2022). Corporate carbon emissions and market valuation of organic and inorganic investments. Economics Letters, 221, Article 110887. https://doi.org/10.1016/j.econlet.2022.110887

We empirically examine the impact of a firm’s carbon emissions level on the market valuation of organic and inorganic investments. We document that the market reacts negatively to corporate investment announcements by companies with high carbon emiss... Read More about Corporate carbon emissions and market valuation of organic and inorganic investments.

Cash Holding Dynamics and Competition Intensity: Evidence from UK firms (2022)
Journal Article
Adamolekun, G., Jones, E., & Li, H. (2023). Cash Holding Dynamics and Competition Intensity: Evidence from UK firms. Managerial and Decision Economics, 44(1), 641-662. https://doi.org/10.1002/mde.3705

Using a quasi-natural experiment and various measures of competition intensity, we examine whether an increase in product market competition is a key driver of firm cash holdings. We find that firms increase cash holdings when competition is intense.... Read More about Cash Holding Dynamics and Competition Intensity: Evidence from UK firms.

Risks in financial services (2021)
Book Chapter
Ring, P. J., & Adamolekun, B. (2021). Risks in financial services. In L. Luu, J. Lowe, P. Ring, & A. Sahota (Eds.), A Practical Guide to Financial Services: Knowledge, Opportunities and Inclusion. Routledge

While we may not think of it in these terms, we all take risks everyday – whether that be crossing the road, getting on a train, or climbing a set of ladders. Research even tells us that sitting down all day (at a desk or on a couch) can have risks f... Read More about Risks in financial services.

Cash Holdings and Firm Competitiveness (2019)
Presentation / Conference Contribution
Adamolekun, G., Jones, E., & Li, H. (2019, December). Cash Holdings and Firm Competitiveness. Paper presented at Paris Financial Management Conference, Paris

Cash Holdings and Corporate Investment Valuations: Evidence from The London Stock Exchange (2019)
Presentation / Conference Contribution
Adamolekun, G., Jones, E., & Li, H. (2019, June). Cash Holdings and Corporate Investment Valuations: Evidence from The London Stock Exchange. Paper presented at INFINITI Conference, Glasgow

The Performance of Portfolios based on Excess Cash Holdings: Evidence from UK companies (2019)
Preprint / Working Paper
Adamolekun, G., Jones, E., & Li, H. The Performance of Portfolios based on Excess Cash Holdings: Evidence from UK companies

In this study, we examine the performance of portfolios based on excess cash holdings using a sample of UK listed firms. We argue that firms with excess cash holdings outperform firms that hold less cash. Strategically, excess cash holdings provide a... Read More about The Performance of Portfolios based on Excess Cash Holdings: Evidence from UK companies.

Socially Responsible Investment (2018)
Book Chapter
Paterson, A., Elshinawy, M., Adamolekun, G., Rae, S., & Sherif, M. (2018). Socially Responsible Investment. In A. Paterson, A. Yonekura, W. Jackson, & D. Jubb (Eds.), Contemporary Issues in Social Accounting (92-111). Goodfellow Publishers