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Asset Overhang and the Green Transition

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  • Hans Degryse
  • Tarik Roukny
  • Joris Tielens

Abstract

Environmental technologies threaten dirty legacy portfolios of external financiers “Asset overhang” refers to an investor’s incentive not to finance disruptive green firms in an attempt to protect exposed legacy positions Empirically, asset overhang renders green disruptors up to 4.4 percentage points less likely to receive external finance The presence of financiers with low asset overhang trigger systemwide incentives to fund green firms Limited policy interventions aimed at reducing such overhang can alleviate financial barriers to the green transition

Suggested Citation

  • Hans Degryse & Tarik Roukny & Joris Tielens, 2023. "Asset Overhang and the Green Transition," EconPol Forum, CESifo, vol. 24(01), pages 31-34, January.
    • Handle: RePEc:ces:epofor:v:24:y:2023:i:01:p:31-34
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