Lunch Seminar in presence

Building BL26/B – Room 0.19 (ground floor)
Department of Management, Economics and Industrial Engineering
Via R. Lambruschini, 4/B

Dimitrios Konstantios
University of Piraeus, Greece

Abstract:

This seminar focuses on the relationship between ESG reputational risk and corporate payouts. Using a sample of 2,021 US listed firms between 2007-2021, will be presented evidence that ESG reputational risk stimulates higher payouts and that the presence of strong (weak) monitoring mechanisms amplifies (attenuates) this relationship. Turning to payout composition, ESG reputational risk steers firms towards a more flexible payout mix comprising a higher analogy of share repurchases versus dividends, an effect that intensifies under financial constraints. Moreover, will be documented that the market places a premium on distributions from high ESG reputational risk firms. Collectively, in this seminar will be presented evidence which support that ESG reputational risk reflects agency problems, raises financial risk and firms respond by disgorging cash via a more flexible payout regime.

Dimitrios Konstantios is an adjunct lecturer of corporate finance at the department of Maritime Studies of University of Piraeus, in Greece. He holds a Bachelor of Mathematics form University of Patras, Greece; and he received both his MSc in Economics and Business strategy and his doctorate in Innovation and Finance from the department of Economics of the University of Piraeus, Greece. His work has appeared amongst others and most notably in top tier academic journals such as: Journal of Financial Management (ABS rank: 3); Journal Business research (ABS rank: 3); International review of financial analysis (ABS rank: 3); Journal of International Money and Finance (ABS rank: 3) and in book chapters in prominent international research volumes. Dr Konstantios’ research interests are in the areas of Corporate Finance; Innovation; Sustainability (ESG) and Corporate Social Responsibility; Sustainability finance and Financial Accounting. Dr Konstantios’ teaching is focused on Sustainable Finance; Corporate Finance; International Business; Strategic Management at undergraduate, specialised postgraduate and MBA programmes at university, and other national and international executive teaching centres. He has also taught amongst others: Basic; Intermediate; and Advanced Financial management; Macroeconomics; Applied Econometrics; Risk Management and Investment Valuation.

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