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To this respect, we have investigated the cointegration between the Standard &amp; Poor's (S&amp;P) 500 Carbon Efficiency Index (CEI) with COVID\u201019 cases, supplemented with covariates such as government response stringency to the pandemic, economic policy uncertainty, oil prices and global markets fluctuations. We have used daily data from 2nd January to 5th October 2020 and have employed a robust estimator within a Fourier approach to accommodate both sharp and smooth breaks. Our results suggest that green companies have been positively affected by the outbreak of COVID\u201019. Our paper provides practical implications for companies that wish to furnish themselves with resilience during rough times and stakeholders who wish to invest in safe, long\u2010lasting returns.<\/jats:p>","DOI":"10.1002\/bse.2872","type":"journal-article","created":{"date-parts":[[2021,8,5]],"date-time":"2021-08-05T20:26:17Z","timestamp":1628195177000},"page":"32-45","update-policy":"https:\/\/doi.org\/10.1002\/crossmark_policy","source":"Crossref","is-referenced-by-count":42,"title":["The resilience of green firms in the twirl of COVID\u201019: Evidence from S&amp;P500 Carbon Efficiency Index with a Fourier approach"],"prefix":"10.1002","volume":"31","author":[{"ORCID":"https:\/\/orcid.org\/0000-0002-5889-3126","authenticated-orcid":false,"given":"Emrah","family":"Ko\u00e7ak","sequence":"first","affiliation":[{"name":"Department of Economics Erciyes University  Kayseri Turkey"}],"role":[{"vocabulary":"crossref","role":"author"}]},{"ORCID":"https:\/\/orcid.org\/0000-0002-8964-0332","authenticated-orcid":false,"given":"Umit","family":"Bulut","sequence":"additional","affiliation":[{"name":"Department of Economics Kirsehir Ahi Evran University  Kirsehir Turkey"}],"role":[{"vocabulary":"crossref","role":"author"}]},{"ORCID":"https:\/\/orcid.org\/0000-0003-0506-1243","authenticated-orcid":false,"given":"Angeliki N.","family":"Menegaki","sequence":"additional","affiliation":[{"name":"Department of Regional and Economic Development Agricultural University of Athens  Athens Greece"}],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"311","published-online":{"date-parts":[[2021,8,5]]},"reference":[{"issue":"1","key":"e_1_2_8_2_1","first-page":"31","article-title":"The effects of terrorism on Turkish stock market","volume":"14","author":"Aksoy M.","year":"2014","journal-title":"Ege Academic Review"},{"key":"e_1_2_8_3_1","first-page":"e12215","article-title":"COVID\u201019 outbreak and sectoral performance of the Australian stock market: An event study analysis","author":"Alam M. 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