2024
DOI: 10.1108/bpmj-05-2023-0401
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Firm-level climate change risk and adoption of ESG practices: a machine learning prediction

Mushtaq Hussain Khan,
Zaid Zein Alabdeen,
Angesh Anupam

Abstract: PurposeBy combining the notion of prospect theory with advanced machine learning algorithms, this study aims to predict whether financial institutions (FIs) adopt a reactive stance when they perceive climate change as a risk, consequently leading to the adoption of environmental, social and governance (ESG) practices to avoid this risk. Prospect theory assumes that decision-makers react quickly when decisions are framed as a risk or threat rather than as an opportunity.Design/methodology/approachWe used a samp… Show more

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