Jeroen Derwall (J.M.M.)

Journal Publications

• "Climate Change, Firm Performance and Investor Surprises", (with N. Pankratz and R. Bauer), Management Science, forthcoming, 2023.
• "Insider ownership, governance mechanisms, and corporate bond prices" (with N. Pankratz and R. Bauer), Journal of International Money and Finance, forthcoming, 2021.
• Impact investments: a call for (re)orientation (with T. Busch, P. Bruce-Clark, R. Eccles, T. Hebb, A. Hoepner, C. Klein, P. Krueger, F. Paetzold, B. Scholtens, O. Weber), SN Business & Economics, vol. 1(2), pp. 1-33, 2021.
• Do Social Factors Influence Investment Behavior and Performance? Evidence from Mutual Fund Holdings” (with A. Borgers, K. Koedijk and J. ter Horst), Journal of Banking and Finance, vol. 60, pp. 112-126, 2015.
• “Stakeholder Relations and Stock Returns: on Errors in Expectations and Learning” (with A. Borgers, K. Koedijk, and J. Ter Horst), Journal of Empirical Finance, vol. 22, pp. 159-175. Winner of the 2012 UN PRI/Sustainalytics Research Award (Best Academic paper).
• “A Tale of Values-Driven and Profit-Seeking Social Investors” (with K. Koedijk and J. ter Horst), Journal of Banking and Finance,vol. 35(8), pp. 2137-2147, 2011.
• “Global Equity Fund Performance, Portfolio Concentration, and the Fundamental Law of Active Management” (with J. Huij), Journal of Banking and Finance, vol. 35(1), pp. 155-165, 2011.
• “Employee Well-Being, Firm Leverage, and Bankruptcy Risk” (with P. Verwijmeren), Journal of Banking and Finance, vol. 34(5), pp. 956-964, 2010.
• “REIT Momentum and the Performance of Real Estate Mutual funds”, (with J. Huij, D. Brounen, W. Marquering), Financial Analysts Journal, September/October, 2009.
• “The Economic Value of Corporate Eco-Efficiency” (with N. Guenster, R. Bauer and K. Koedijk), European Financial Management, vol. 17(4), pp. 679-704, 2011. Winner of the 2005 Moskowitz Prize for best quantitative research on socially responsible investing. Winner of 2012 European Financial Management Best paper Award: Top Download 
• "The Impact of Terrorist Attacks on International Stock Markets" (with D. Brounen), European Financial Management, vol. 16(4), pp. 585-598, 2010.
• “Socially Responsible Fixed-Income Funds” (with K. Koedijk), Journal of Business Finance and Accounting, vol. 36 (1&2), pp. 210-229, 2009.
• Hot Hands in Bond Funds” (with J. Huij), Journal of Banking and Finance, vol. 32(4), pp 559-572, 2008.
• “The Ethical Mutual Fund Performance Debate: New Evidence from Canada” (with R. Bauer and R. Otten), Journal of Business Ethics, vol. 70(2), 2007.
• “The Eco-Efficiency Premium Puzzle” (with N. Guenster, R. Bauer and K. Koedijk), Financial Analysts Journal, vol. 61(2), March/April, 2005. Winner of the 2005 European Prize on Finance and Sustainable Development, awarded by French Sustainable Investment Forum and Le Monde.
• “The Real-Time Predictability of the Size and Value Premium in Japan” (with R. Bauer  and R. Molenaar), Pacific-Basin Finance Journal, vol. 12(5), 2004

  ​Working papers

• "Climate Change, Firm Performance and Investor Surprises (with N. Pankratz and R. Bauer),  Accepted at Management Science, working paper-version: https://ssrn.com/abstract=3443146
• Corporate Directors Learn From Environmental Engagements (with R. Bauer and C. Tissen), 2022:  https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3981634