IDEAS home Printed from https://ideas.repec.org/p/zbw/ifwkwp/318195.html
   My bibliography  Save this paper

Is Davos more than a boondoggle?

Author

Listed:
  • Fuchs, Andreas
  • Leue, Sebastian
  • Rose, Andrew

Abstract

Since 1971, the World Economic Forum (WEF) Annual Meeting in Davos has attracted the leadership of global corporations. Attendance may offer economic benefits through networking and political support or provide only private gains without measurable impact. Through creating a novel database of WEF attendees (2009-2018) matched with firm-level data, we analyze stock market performance, corporate ratings, and environmental, social, and corporate governance (ESG) scores. Regression results, including annual and daily event studies, suggest that WEF attendance does not systematically improve stock performance or credit ratings. However, WEF attendance positively impacts ESG scores, especially the social sub-score, indicating beneficial takeholder effects.

Suggested Citation

  • Fuchs, Andreas & Leue, Sebastian & Rose, Andrew, 2025. "Is Davos more than a boondoggle?," Kiel Working Papers 2288, Kiel Institute for the World Economy (IfW Kiel).
    • Handle: RePEc:zbw:ifwkwp:318195
    as

    Download full text from publisher

    File URL: https://www.econstor.eu/bitstream/10419/318195/1/1926366395.pdf
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    World Economic Forum; international organizations; business leaders; stock markets; corporate ratings; summits;
    All these keywords.

    JEL classification:

    • F53 - International Economics - - International Relations, National Security, and International Political Economy - - - International Agreements and Observance; International Organizations
    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • G39 - Financial Economics - - Corporate Finance and Governance - - - Other
    • O19 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - International Linkages to Development; Role of International Organizations

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:zbw:ifwkwp:318195. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ZBW - Leibniz Information Centre for Economics (email available below). General contact details of provider: https://edirc.repec.org/data/iwkiede.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.