General Economics (econ.GN)

Abstract: This paper process two robust models for site selection problems for one of the major Hospitals in Hong Kong. Three parameters, namely, level of uncertainty, infeasibility tolerance as well as the level of reliability, are incorporated. Then, 2 kinds of uncertainty; that is, the symmetric and bounded uncertainties have been investigated. Therefore, the issue of scheduling under uncertainty has been considered wherein unknown problem factors could be illustrated via a given probability distribution function. In this regard, Lin, Janak, and Floudas (2004) introduced one of the newly developed strong optimisation protocols. Hence, computers as well as the chemical engineering [1069-1085] has been developed for considering uncertainty illustrated through a given probability distribution. Finally, our accurate optimisation protocol has been on the basis of a min-max framework and in a case of application to the (MILP) problems it produced a precise solution that has immunity to uncertain data.

Abstract: We investigate the response of shareholders to Environmental, Social, and Governance-related reputational risk (ESG-risk), focusing exclusively on the impact of social media. Using a dataset of 114 million tweets about firms listed on the S&P100 index between 2016 and 2022, we extract conversations discussing ESG matters. In an event study design, we define events as unusual spikes in message posting activity linked to ESG-risk, and we then examine the corresponding changes in the returns of related assets. By focusing on social media, we gain insight into public opinion and investor sentiment, an aspect not captured through ESG controversies news alone. To the best of our knowledge, our approach is the first to distinctly separate the reputational impact on social media from the physical costs associated with negative ESG controversy news. Our results show that the occurrence of an ESG-risk event leads to a statistically significant average reduction of 0.29% in abnormal returns. Furthermore, our study suggests this effect is predominantly driven by Social and Governance categories, along with the "Environmental Opportunities" subcategory. Our research highlights the considerable impact of social media on financial markets, particularly in shaping shareholders' perception of ESG reputation. We formulate several policy implications based on our findings.