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Philipp Krueger

Citations

Many of the citations below have been collected in an experimental project, CitEc, where a more detailed citation analysis can be found. These are citations from works listed in RePEc that could be analyzed mechanically. So far, only a minority of all works could be analyzed. See under "Corrections" how you can help improve the citation analysis.

Working papers

  1. Tony Berrada & Leonie Engelhardt & Rajna Gibson & Philipp Krueger, 2022. "The Economics of Sustainability Linked Bonds," Swiss Finance Institute Research Paper Series 22-26, Swiss Finance Institute.

    Cited by:

    1. Dahlen, Niklas & Fehrenkötter, Rieke & Schreiter, Maximilian, 2024. "The new bond on the block — Designing a carbon-linked bond for sustainable investment projects," The Quarterly Review of Economics and Finance, Elsevier, vol. 95(C), pages 316-325.
    2. Giannetti, Mariassunta & Jasova, Martina & Loumioti, Maria & Mendicino, Caterina, 2023. "“Glossy green” banks: the disconnect between environmental disclosures and lending activities," Working Paper Series 2882, European Central Bank.
    3. Georgeta Ilie, PhD, Researcher III & PhD, Claudia Gabriela Baicu, PhD, Researcher III, 2023. "Green Finance €“ International Initiatives And Relevant Practices In Supporting Global Sustainable Goals," Social-Economic Debates, Association for Entreprenorial Spirit Promotion, vol. 12(1), pages 1-10, octombrie.
    4. Hinsche, Isabelle Cathérine & Klump, Rainer, 2023. "Mirror, mirror on the wall, who is transitioning amongst them all?," CFS Working Paper Series 712, Center for Financial Studies (CFS).

  2. Derrien, François & Krueger, Philipp & Landier, Augustin & Yao, Tianhao, 2021. "ESG News, Future Cash Flows, and Firm Value," HEC Research Papers Series 1441, HEC Paris.

    Cited by:

    1. Gao, Ning & Jiang, Wei & Jin, Jiaxu, 2024. "Unravelling investors’ diverging responses to U.S. firms' global ESG incidents," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 91(C).

  3. Philipp Krueger & Zacharias Sautner & Dragon Yongjun Tang & Rui Zhong, 2021. "The Effects of Mandatory ESG Disclosure Around the World," Swiss Finance Institute Research Paper Series 21-44, Swiss Finance Institute.

    Cited by:

    1. Wen, Hui & Ho, Ken C. & Gao, Jijun & Yu, Li, 2022. "The fundamental effects of ESG disclosure quality in boosting the growth of ESG investing," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 81(C).
    2. Spira, Robin, 2024. "How does ESG rating disagreement influence analyst forecast dispersion?," Junior Management Science (JUMS), Junior Management Science e. V., vol. 9(3), pages 1769-1804.
    3. Abbasi, Kaleemullah & Alam, Ashraful & Borhan Uddin Bhuiyan, Md. & Tariqul Islam, Md, 2024. "Does female director expertise on audit committees matter for carbon disclosures? Evidence from the United Kingdom," Journal of International Accounting, Auditing and Taxation, Elsevier, vol. 55(C).
    4. Yan, Meilan & Li, Youwei & Pantelous, Athanasios A. & Vigne, Samuel A. & Zhang, Dalu, 2024. "A comparative and conceptual intellectual study of environmental topic in economic and finance," International Review of Financial Analysis, Elsevier, vol. 91(C).
    5. Zhang, Dongyang, 2023. "Does green finance really inhibit extreme hypocritical ESG risk? A greenwashing perspective exploration," Energy Economics, Elsevier, vol. 121(C).
    6. Danisman, Gamze Ozturk & Tarazi, Amine, 2024. "ESG activity and bank lending during financial crises," Journal of Financial Stability, Elsevier, vol. 70(C).
    7. Cantero-Saiz, María & Polizzi, Salvatore & Scannella, Enzo, 2024. "ESG and asset quality in the banking industry: The moderating role of financial performance," Research in International Business and Finance, Elsevier, vol. 69(C).
    8. Zhang, Ning & Zhang, Yue & Zong, Zhe, 2023. "Fund ESG performance and downside risk: Evidence from China," International Review of Financial Analysis, Elsevier, vol. 86(C).
    9. Paola Demartini & Claudia Pagliei, 2023. "Can we trust ESG Ratings? Some insights based on a bibliometric analysis of ESG data quality and rating reliability," MANAGEMENT CONTROL, FrancoAngeli Editore, vol. 2023(2 Suppl.), pages 161-187.
    10. Yu, Haixu & Liang, Chuanyu & Liu, Zhaohua & Wang, He, 2023. "News-based ESG sentiment and stock price crash risk," International Review of Financial Analysis, Elsevier, vol. 88(C).
    11. Sirio Aramonte & Frank Packer, 2022. "Information governance in sustainable finance," BIS Papers, Bank for International Settlements, number 132.
    12. Do, Trung K. & Vo, Xuan Vinh, 2023. "Is mandatory sustainability disclosure associated with default risk? Evidence from emerging markets," Finance Research Letters, Elsevier, vol. 55(PA).
    13. Martinez Meyers, Susana & Ferrero-Ferrero, Idoya & Muñoz-Torres, María Jesus, 2024. "ARE sustainable funds doing the talk and the walk? An ESG score analysis of fund portfolio holdings," International Review of Economics & Finance, Elsevier, vol. 93(PA), pages 1526-1541.
    14. Kizys, Renatas & Mamatzakis, Emmanuel C. & Tzouvanas, Panagiotis, 2023. "Does genetic diversity on corporate boards lead to improved environmental performance?," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 84(C).
    15. Chen, Xiaoqi & Li, Weiping & Torsin, Wouter & Tsang, Albert, 2024. "Dividend policy under mandatory ESG reporting," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 93(C).
    16. Tristan Jourde & Arthur Stalla-Bourdillon, 2024. "PEnvironmental Preferences and Sector Valuations," Working papers 964, Banque de France.
    17. Giannetti, Mariassunta & Jasova, Martina & Loumioti, Maria & Mendicino, Caterina, 2023. "“Glossy green” banks: the disconnect between environmental disclosures and lending activities," Working Paper Series 2882, European Central Bank.
    18. Julian Amon & Margarethe Rammerstorfer & Karl Weinmayer, 2021. "Passive ESG Portfolio Management—The Benchmark Strategy for Socially Responsible Investors," Sustainability, MDPI, vol. 13(16), pages 1-21, August.
    19. Luo, Di, 2022. "ESG, liquidity, and stock returns," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 78(C).
    20. Cohen, Shira & Kadach, Igor & Ormazabal, Gaizka & Reichelstein, Stefan, 2022. "Executive compensation tied to ESG performance: International evidence," ZEW Discussion Papers 22-051, ZEW - Leibniz Centre for European Economic Research.
    21. Wei Cui & Xiaofang Chen & Wenlei Xia & Yu Hu, 2023. "Influence of Media Attention on the Quality of Environmental, Social, and Governance Information Disclosure in Enterprises: An Adjustment Effect Based on the Shareholder Relationship Network," Sustainability, MDPI, vol. 15(18), pages 1-25, September.
    22. Ji, Yucheng & Xu, Weijun & Zhao, Qi & Jia, Zecheng, 2023. "ESG disclosure and investor welfare under asymmetric information and imperfect competition," Pacific-Basin Finance Journal, Elsevier, vol. 78(C).
    23. Douglas Cumming & Zachary Glatzer & Omrane Guedhami, 2023. "Institutions, digital assets, and implications for economic and financial performance," Economia e Politica Industriale: Journal of Industrial and Business Economics, Springer;Associazione Amici di Economia e Politica Industriale, vol. 50(3), pages 487-513, September.
    24. Chen, Zhongfei & Xie, Guanxia, 2022. "ESG disclosure and financial performance: Moderating role of ESG investors," International Review of Financial Analysis, Elsevier, vol. 83(C).
    25. Jitmaneeroj, Boonlert, 2023. "Time-varying fund manager skills of socially responsible investing (SRI) funds in developed and emerging markets," Research in International Business and Finance, Elsevier, vol. 64(C).
    26. Luigi Lannutti, 0000. "The role of Environmental, Social and Governance (ESG) regulations in attracting Foreign Direct Investment (FDI)," Proceedings of International Academic Conferences 14216212, International Institute of Social and Economic Sciences.
    27. Huang, Chenchen & Luo, Di & Mukherjee, Soumyatanu & Mishra, Tapas, 2022. "To Acquire or to Ally? Managing Partners’ Environmental Risk in International Expansion," MPRA Paper 121808, University Library of Munich, Germany, revised 07 Jan 2023.
    28. Sahar E-Vahdati & Wan Nordin Wan-Hussin & Mohd Shazwan Mohd Ariffin, 2023. "The Value Relevance of ESG Practices in Japan and Malaysia: Moderating Roles of CSR Award, and Former CEO as a Board Chair," Sustainability, MDPI, vol. 15(3), pages 1-17, February.
    29. VASIU Diana Elena & BRATU Renate, 2022. "An Overview On Environmental Social And Governance – Esg-Topics From The Financial Markets’ Perspective," Management of Sustainable Development, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 14(2), pages 76-82, December.
    30. Paula Gomes dos Santos & Fábio Albuquerque & Maria Albertina Barreiro Rodrigues & Ana Isabel Morais, 2022. "The Views of Stakeholders on Mandatory or Voluntary Use of a Simplified Standard on Non-Financial Information for SMEs in the European Union," Sustainability, MDPI, vol. 14(5), pages 1-22, February.

  4. Philipp Krueger & Daniel Metzger & Jiaxin Wu, 2021. "The Sustainability Wage Gap," Swiss Finance Institute Research Paper Series 21-17, Swiss Finance Institute.

    Cited by:

    1. Serge Darolles & Gaëlle Le Fol & Yuyi He, 2023. "Who can better push firms to go "green"? A look at ESG effects on stock returns," Post-Print hal-04462749, HAL.
    2. Schinkel, Maarten Pieter & Treuren, Leonard, 2024. "Corporate social responsibility by joint agreement," Journal of Environmental Economics and Management, Elsevier, vol. 123(C).
    3. Wassim Le Lann & Gauthier Delozière & Yann Le Lann, 2023. "Greenwashing the Talents: attracting human capital through environmental pledges," SciencePo Working papers Main hal-04140191, HAL.
    4. Wassim Le Lann & Gauthier Delozière & Yann Le Lann, 2023. "Greenwashing the Talents: attracting human capital through environmental pledges," Working Papers hal-04140191, HAL.

  5. François Derrien & Philipp Krueger & Augustin Landier & Tianhao Yao, 2021. "How Do ESG Incidents Affect Firm Value?," Swiss Finance Institute Research Paper Series 21-84, Swiss Finance Institute.

    Cited by:

    1. Bolognesi, Enrica & Burchi, Alberto, 2023. "The impact of the ESG disclosure on sell-side analysts’ target prices: The new era post Paris agreements," Research in International Business and Finance, Elsevier, vol. 64(C).
    2. Chen, Zhongfei & Xie, Guanxia, 2022. "ESG disclosure and financial performance: Moderating role of ESG investors," International Review of Financial Analysis, Elsevier, vol. 83(C).
    3. Kvam, Emilie & Molnar, Peter & Wankel, Ingvild & Odegaard, Bernt Arne, 2022. "Do sustainable company stock prices increase with ESG scrutiny? Evidence using social media," UiS Working Papers in Economics and Finance 2022/1, University of Stavanger.

  6. Rajna Gibson & Simon Glossner & Philipp Krueger & Pedro Matos & Tom Steffen, 2020. "Responsible Institutional Investing Around the World," Swiss Finance Institute Research Paper Series 20-13, Swiss Finance Institute.

    Cited by:

    1. Ferriani, Fabrizio, 2023. "Issuing bonds during the Covid-19 pandemic: Was there an ESG premium?," International Review of Financial Analysis, Elsevier, vol. 88(C).
    2. Othar Kordsachia & Maximilian Focke & Patrick Velte, 2022. "Do sustainable institutional investors contribute to firms’ environmental performance? Empirical evidence from Europe," Review of Managerial Science, Springer, vol. 16(5), pages 1409-1436, July.
    3. Marszk, Adam & Lechman, Ewa, 2024. "What drives sustainable investing? Adoption determinants of sustainable investing exchange-traded funds in Europe," Structural Change and Economic Dynamics, Elsevier, vol. 69(C), pages 63-82.
    4. Naffa, Helena & Fain, Máté, 2022. "A factor approach to the performance of ESG leaders and laggards," Finance Research Letters, Elsevier, vol. 44(C).
    5. Amin Shokri & Ali Shokri & Dean White & Richard Gelski & Yosse Goldberg & Stephen Harrison & Taha Hossein Rashidi, 2022. "EnviroCoin: A Holistic, Blockchain Empowered, Consensus-Based Carbon Saving Unit Ecosystem," Sustainability, MDPI, vol. 14(12), pages 1-21, June.
    6. K. Thomas Liaw, 2020. "Survey of Green Bond Pricing and Investment Performance," JRFM, MDPI, vol. 13(9), pages 1-12, August.
    7. Dasgupta, Amil & Fos, Vyacheslav & Sautner, Zacharias, 2021. "Institutional investors and corporate governance," LSE Research Online Documents on Economics 112114, London School of Economics and Political Science, LSE Library.
    8. Tiago Gonçalves & Diego Pimentel & Cristina Gaio, 2021. "Risk and Performance of European Green and Conventional Funds," Sustainability, MDPI, vol. 13(8), pages 1-17, April.
    9. Jennifer Martínez-Ferrero & María-Belén Lozano, 2021. "The Nonlinear Relation between Institutional Ownership and Environmental, Social and Governance Performance in Emerging Countries," Sustainability, MDPI, vol. 13(3), pages 1-16, February.
    10. Hans B. Christensen & Luzi Hail & Christian Leuz, 2021. "Mandatory CSR and sustainability reporting: economic analysis and literature review," Review of Accounting Studies, Springer, vol. 26(3), pages 1176-1248, September.
    11. Jaime F. Lavin & Alejandro A. Montecinos-Pearce, 2021. "ESG Reporting: Empirical Analysis of the Influence of Board Heterogeneity from an Emerging Market," Sustainability, MDPI, vol. 13(6), pages 1-25, March.
    12. Martinez Meyers, Susana & Ferrero-Ferrero, Idoya & Muñoz-Torres, María Jesus, 2024. "ARE sustainable funds doing the talk and the walk? An ESG score analysis of fund portfolio holdings," International Review of Economics & Finance, Elsevier, vol. 93(PA), pages 1526-1541.
    13. Mansouri, Sasan & Momtaz, Paul P., 2022. "Financing sustainable entrepreneurship: ESG measurement, valuation, and performance," Journal of Business Venturing, Elsevier, vol. 37(6).
    14. Gillan, Stuart L. & Koch, Andrew & Starks, Laura T., 2021. "Firms and social responsibility: A review of ESG and CSR research in corporate finance," Journal of Corporate Finance, Elsevier, vol. 66(C).
    15. Rüdiger Fahlenbrach & Eric Jondeau, 2021. "Greening the Swiss National Bank's Portfolio," Swiss Finance Institute Research Paper Series 21-59, Swiss Finance Institute.
    16. Burger, Eric & Grba, Fabian & Heidorn, Thomas, 2022. "The impact of ESG ratings on implied and historical volatility," Frankfurt School - Working Paper Series 230, Frankfurt School of Finance and Management.
    17. Thilini V. Mahanama & Abootaleb Shirvani & Svetlozar Rachev, 2023. "The Financial Market of Indices of Socioeconomic Wellbeing," Papers 2303.05654, arXiv.org.
    18. Lioui, Abraham & Tarelli, Andrea, 2022. "Chasing the ESG factor," Journal of Banking & Finance, Elsevier, vol. 139(C).
    19. Cohen, Shira & Kadach, Igor & Ormazabal, Gaizka & Reichelstein, Stefan, 2022. "Executive compensation tied to ESG performance: International evidence," ZEW Discussion Papers 22-051, ZEW - Leibniz Centre for European Economic Research.
    20. Lajili Jarjir, Souad & Nasreddine, Aya & Desban, Marc, 2022. "Corporate social responsibility as a common risk factor," Global Finance Journal, Elsevier, vol. 52(C).
    21. Ramelli, Stefano & Ossola, Elisa & Rancan, Michela, 2021. "Stock price effects of climate activism: Evidence from the first Global Climate Strike," Journal of Corporate Finance, Elsevier, vol. 69(C).
    22. Hansen, Lars Peter, 2022. "Central banking challenges posed by uncertain climate change and natural disasters," Journal of Monetary Economics, Elsevier, vol. 125(C), pages 1-15.
    23. Jaime F. Lavin & Alejandro A. Montecinos-Pearce, 2021. "ESG Disclosure in an Emerging Market: An Empirical Analysis of the Influence of Board Characteristics and Ownership Structure," Sustainability, MDPI, vol. 13(19), pages 1-20, September.
    24. Rohleder, Martin & Wilkens, Marco & Zink, Jonas, 2022. "The effects of mutual fund decarbonization on stock prices and carbon emissions," Journal of Banking & Finance, Elsevier, vol. 134(C).
    25. Stefano Nobili & Mattia Persico & Rosario Romeo, 2024. "How Important Are Esg Factors For Banks’ Cost Of Debt? An Empirical Investigation," Temi di discussione (Economic working papers) 52, Bank of Italy, Economic Research and International Relations Area.
    26. Zhichuan Frank Li & Saurin Patel & Srikanth Ramani, 2021. "The Role of Mutual Funds in Corporate Social Responsibility," Journal of Business Ethics, Springer, vol. 174(3), pages 715-737, December.
    27. Fang, Fei & Parida, Sitikantha, 2022. "Sustainable mutual fund performance and flow in the recent years through the COVID-19 pandemic," International Review of Financial Analysis, Elsevier, vol. 84(C).
    28. Humphrey, Jacquelyn E. & Li, Yong, 2021. "Who goes green: Reducing mutual fund emissions and its consequences," Journal of Banking & Finance, Elsevier, vol. 126(C).
    29. Elizabeth Demers & Jurian Hendrikse & Philip Joos & Baruch Lev, 2021. "ESG did not immunize stocks during the COVID‐19 crisis, but investments in intangible assets did," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 48(3-4), pages 433-462, March.
    30. Maximilian Focke, 2022. "Do sustainable institutional investors influence senior executive compensation structures according to their preferences? Empirical evidence from Europe," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 29(5), pages 1109-1121, September.
    31. Simon Döring & Wolfgang Drobetz & Sadok El Ghoul & Omrane Guedhami & Henning Schröder, 2023. "Foreign Institutional Investors, Legal Origin, and Corporate Greenhouse Gas Emissions Disclosure," Journal of Business Ethics, Springer, vol. 182(4), pages 903-932, February.
    32. Duncombe, Samuel & Park, Min & Tarsalewska, Monika & Trojanowski, Grzegorz, 2023. "ESG positioning in private infrastructure fundraising," International Review of Financial Analysis, Elsevier, vol. 90(C).
    33. Soohun Kim & Aaron Yoon, 2023. "Analyzing Active Fund Managers’ Commitment to ESG: Evidence from the United Nations Principles for Responsible Investment," Management Science, INFORMS, vol. 69(2), pages 741-758, February.
    34. Ye Lim Jung & Hyoung Sun Yoo, 2023. "Environmental, social, and governance activities and firm performance: Global evidence and the moderating effect of market competition," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(6), pages 2830-2839, November.
    35. David Blitz & Laurens Swinkels, 2021. "Who owns tobacco stocks?," Journal of Asset Management, Palgrave Macmillan, vol. 22(5), pages 311-325, September.
    36. Bradford Cornell, 2021. "ESG preferences, risk and return," European Financial Management, European Financial Management Association, vol. 27(1), pages 12-19, January.
    37. Alessio M. Pacces, 2021. "Will the EU Taxonomy Regulation Foster Sustainable Corporate Governance?," Sustainability, MDPI, vol. 13(21), pages 1-21, November.
    38. Yahia, Nadia Ben & Chalwati, Amna & Hmaied, Dorra & Khizer, Abdul Mohi & Trabelsi, Samir, 2023. "Do foreign institutions avoid investing in poorly CSR-performing firms?," Journal of Banking & Finance, Elsevier, vol. 157(C).
    39. Xiaoqiu Chen & Jinxiang Wang, 2024. "The Impact of Regional Carbon Emission Reduction on Corporate ESG Performance in China," Sustainability, MDPI, vol. 16(13), pages 1-28, July.

  7. Emirhan Ilhan & Philipp Krueger & Zacharias Sautner & Laura T. Starks, 2019. "Institutional Investors’ Views and Preferences on Climate Risk Disclosure," Swiss Finance Institute Research Paper Series 19-66, Swiss Finance Institute.

    Cited by:

    1. Caroline Flammer & Michael W. Toffel & Kala Viswanathan, 2021. "Shareholder activism and firms' voluntary disclosure of climate change risks," Strategic Management Journal, Wiley Blackwell, vol. 42(10), pages 1850-1879, October.
    2. Alix Auzepy & Christina E. Bannier & Fabio Martin, 2023. "Are sustainability‐linked loans designed to effectively incentivize corporate sustainability? A framework for review," Financial Management, Financial Management Association International, vol. 52(4), pages 643-675, December.
    3. Zirek, Duygu & Unsal, Omer, 2023. "Green bonds: Do investors benefit from third-party certification?," Global Finance Journal, Elsevier, vol. 58(C).
    4. Hirofumi Nishi & S. Drew Peabody, 2024. "Under the spotlight: The peer standard in CSR and the role of public attention," The Financial Review, Eastern Finance Association, vol. 59(2), pages 373-390, May.
    5. Alexandre Garel & Arthur Petit-Romec, 2021. "Investor rewards to environmental responsibility: Evidence from the COVID-19 crisis," Post-Print hal-03204216, HAL.
    6. Daniela Kletzan-Slamanig & Angela Köppl, 2021. "The Evolution of the Green Finance Agenda – Institutional Anchoring and a Survey-based Assessment for Austria," WIFO Working Papers 640, WIFO.
    7. Zeng, Jing & Zhang, Bingqian & Li, Kevin K., 2024. "The impact of free trade zones on ESG performance: Evidence from China," International Review of Economics & Finance, Elsevier, vol. 91(C), pages 1110-1122.
    8. Mahfod M. Aldoseri & Maged M. Albaz, 2023. "Climate Change Risks Disclosure: Do Business Strategy and Management Characteristics Matter?," IJFS, MDPI, vol. 11(4), pages 1-14, December.
    9. Huang, Qiping & Lin, Meimei, 2022. "Do climate risk beliefs shape corporate social responsibility?," Global Finance Journal, Elsevier, vol. 53(C).
    10. Garel, Alexandre & Petit-Romec, Arthur, 2021. "Investor rewards to environmental responsibility: Evidence from the COVID-19 crisis," Journal of Corporate Finance, Elsevier, vol. 68(C).
    11. Auzepy, Alix & Bannier, Christina E. & Martin, Fabio, 2023. "Walk the talk: Shareholders' soft engagement at annual general meetings," CFS Working Paper Series 689, Center for Financial Studies (CFS).
    12. Louis Daumas, 2021. "Should we fear transition risks - A review of the applied literature," Working Papers 2021.05, FAERE - French Association of Environmental and Resource Economists.
    13. Neil Gunningham, 2020. "A Quiet Revolution: Central Banks, Financial Regulators, and Climate Finance," Sustainability, MDPI, vol. 12(22), pages 1-22, November.
    14. Jerry W. Chen & Eunice S. Khoo & Zihang Peng, 2023. "Climate change disclosure and the information environment in the initial public offering market," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 63(S1), pages 907-952, April.

  8. Rajna Gibson & Philipp Krueger & Nadine Riand & Peter Steffen Schmidt, 2019. "ESG Rating Disagreement and Stock Returns," Swiss Finance Institute Research Paper Series 19-67, Swiss Finance Institute.

    Cited by:

    1. Dumrose, Maurice & Rink, Sebastian & Eckert, Julia, 2022. "Disaggregating confusion? The EU Taxonomy and its relation to ESG rating," Finance Research Letters, Elsevier, vol. 48(C).
    2. Addisu A. Lashitew, 2021. "Corporate uptake of the Sustainable Development Goals: Mere greenwashing or an advent of institutional change?," Journal of International Business Policy, Palgrave Macmillan, vol. 4(1), pages 184-200, March.
    3. Fabrizio Ferriani & Marcello Pericoli, 2024. "ESG risks and corporate viability: insights from default probability term structure analysis," Questioni di Economia e Finanza (Occasional Papers) 892, Bank of Italy, Economic Research and International Relations Area.
    4. Danni Yu & Tiantian Meng & Minyu Zheng & Rongyi Ma, 2024. "ESG uncertainty, investor attention and stock price crash risk in China: evidence from PVAR model analysis," Palgrave Communications, Palgrave Macmillan, vol. 11(1), pages 1-13, December.
    5. Liu, Xiangqiang & Yang, Qingqing & Wei, Kai & Dai, Peng-Fei, 2024. "ESG rating disagreement and idiosyncratic return volatility: Evidence from China," Research in International Business and Finance, Elsevier, vol. 70(PB).
    6. Wang, Xue & Liu, Qingyuan, 2024. "Information disclosure and ESG rating disagreement: Evidence from green bond issuance in China," Pacific-Basin Finance Journal, Elsevier, vol. 85(C).
    7. Gao, Feng & Li, Yubin & Wang, Xinjie & Zhong, Zhaodong (Ken), 2021. "Corporate social responsibility and the term structure of CDS spreads," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 74(C).
    8. Ozge Sahin & Karoline Bax & Claudia Czado & Sandra Paterlini, 2021. "Environmental, Social, Governance scores and the Missing pillar -- Why does missing information matter?," Papers 2106.15466, arXiv.org, revised Jun 2022.
    9. Bae, Kee-Hong & El Ghoul, Sadok & Gong, Zhaoran (Jason) & Guedhami, Omrane, 2021. "Does CSR matter in times of crisis? Evidence from the COVID-19 pandemic," Journal of Corporate Finance, Elsevier, vol. 67(C).
    10. Ailing Xu & Yuanyuan Su & Yingxin Wang, 2024. "A Study of the Impact Mechanism of Corporate ESG Performance on Surplus Persistence," Sustainability, MDPI, vol. 16(17), pages 1-21, August.
    11. Gardenier, Julius & Lac, Visieu & Ashfaq, Muhammad, 2021. "Risk-adjusted return in sustainable finance: A comparative analysis of European positively screened and best-in-class ESG investment portfolios and the Euro Stoxx 50 index using the Sharpe Ratio," IU Discussion Papers - Business & Management 7/2021, IU International University of Applied Sciences.
    12. Enrico Bernardini & Marco Fanari & Enrico Foscolo & Francesco Ruggiero, 2024. "Environmental data and scores: Lost in translation," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 31(5), pages 4796-4818, September.
    13. Salvatore Esposito De Falco & Raffaella Montera & Sabrina Leo & Francesco Laviola & Pietro Vito & Domenico Sardanelli & Gianpaolo Basile & Giulia Nevi & Raffaele Alaia, 2024. "Trends and patterns in ESG research: A bibliometric odyssey and research agenda," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 31(5), pages 3703-3723, September.
    14. Tristan Jourde & Arthur Stalla-Bourdillon, 2024. "PEnvironmental Preferences and Sector Valuations," Working papers 964, Banque de France.
    15. Lopez, Claude & Contreras, Oscar & Bendix, Joseph, 2020. "Disagreement among ESG rating agencies: shall we be worried?," MPRA Paper 103027, University Library of Munich, Germany.
    16. Michele Rubino & Ilaria Mastrorocco & Giovanni Maria Garegnani, 2024. "The influence of market and institutional factors on ESG rating disagreement," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 31(5), pages 3916-3926, September.
    17. Erhart, Szilárd, 2022. "Take it with a pinch of salt—ESG rating of stocks and stock indices," International Review of Financial Analysis, Elsevier, vol. 83(C).
    18. Vezeteu Cosmin-Dănuț & Stănciulescu Raluca-Ioana, 2024. "ESG Risks and Financial Performance. Analysis of Romanian-Listed Companies," Proceedings of the International Conference on Business Excellence, Sciendo, vol. 18(1), pages 2196-2210.
    19. Lihua Zeng & Hao Li & Liyu Lin & Dora Juan Juan Hu & Hui Liu, 2024. "ESG Standards in China: Bibliometric Analysis, Development Status Research, and Future Research Directions," Sustainability, MDPI, vol. 16(16), pages 1-24, August.

  9. Philipp Krueger & Zacharias Sautner & Laura T. Starks, 2018. "The Importance of Climate Risks for Institutional Investors," Swiss Finance Institute Research Paper Series 18-58, Swiss Finance Institute.

    Cited by:

    1. Choy, Stacey & Jiang, Shushu & Liao, Scott & Wang, Emma, 2024. "Public environmental enforcement and private lender monitoring: Evidence from environmental covenants," Journal of Accounting and Economics, Elsevier, vol. 77(2).
    2. Bua, Giovanna & Kapp, Daniel & Ramella, Federico & Rognone, Lavinia, 2022. "Transition versus physical climate risk pricing in European financial markets: a text-based approach," Working Paper Series 2677, European Central Bank.
    3. Stefano Ramelli & Alexander F. Wagner & Richard J. Zeckhauser & Alexandre Ziegler, 2018. "Investor Rewards to Climate Responsibility: Evidence from the 2016 Climate Policy Shock," NBER Working Papers 25310, National Bureau of Economic Research, Inc.
    4. Caroline Flammer & Michael W. Toffel & Kala Viswanathan, 2021. "Shareholder activism and firms' voluntary disclosure of climate change risks," Strategic Management Journal, Wiley Blackwell, vol. 42(10), pages 1850-1879, October.
    5. Ferriani, Fabrizio, 2023. "Issuing bonds during the Covid-19 pandemic: Was there an ESG premium?," International Review of Financial Analysis, Elsevier, vol. 88(C).
    6. Rzeźnik, Aleksandra & Hanley, Kathleen Weiss & Pelizzon, Loriana, 2021. "The salience of ESG ratings for stock pricing: Evidence from (potentially) confused investors," SAFE Working Paper Series 310, Leibniz Institute for Financial Research SAFE, revised 2021.
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    Cited by:

    1. Stefano Ramelli & Alexander F. Wagner & Richard J. Zeckhauser & Alexandre Ziegler, 2018. "Investor Rewards to Climate Responsibility: Evidence from the 2016 Climate Policy Shock," NBER Working Papers 25310, National Bureau of Economic Research, Inc.
    2. Stefano Ramelli & Alexander F Wagner & Richard J Zeckhauser & Alexandre Ziegler, 2021. "Investor Rewards to Climate Responsibility: Stock-Price Responses to the Opposite Shocks of the 2016 and 2020 U.S. Elections [Asset pricing with liquidity risk]," The Review of Corporate Finance Studies, Society for Financial Studies, vol. 10(4), pages 748-787.
    3. Anna Gervasoni & Francesco Bollazzi & Margherita Mietto, 2022. "Private equity for the development of smart cities: the Italian case," LIUC Papers in Economics 2022-14, Cattaneo University (LIUC).
    4. Hans B. Christensen & Luzi Hail & Christian Leuz, 2021. "Mandatory CSR and sustainability reporting: economic analysis and literature review," Review of Accounting Studies, Springer, vol. 26(3), pages 1176-1248, September.
    5. Tamas Barko & Martijn Cremers & Luc Renneboog, 2022. "Shareholder Engagement on Environmental, Social, and Governance Performance," Journal of Business Ethics, Springer, vol. 180(2), pages 777-812, October.
    6. Julia Anna Bingler & Chiara Colesanti Senni, 2020. "Taming the Green Swan: How to improve climate-related financial risk assessments," CER-ETH Economics working paper series 20/340, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich.
    7. Ceccarelli, Marco & Ramelli, Stefano & Wagner, Alexander F., 2022. "Low-carbon mutual funds," CEPR Discussion Papers 13599, C.E.P.R. Discussion Papers.
    8. Chen, Tao & Dong, Hui & Lin, Chen, 2020. "Institutional shareholders and corporate social responsibility," Journal of Financial Economics, Elsevier, vol. 135(2), pages 483-504.
    9. De Haas, Ralph & Popov, Alexander, 2019. "Finance and Green Growth," CEPR Discussion Papers 14012, C.E.P.R. Discussion Papers.
    10. Mario La Torre & Fabiomassimo Mango & Arturo Cafaro & Sabrina Leo, 2020. "Does the ESG Index Affect Stock Return? Evidence from the Eurostoxx50," Sustainability, MDPI, vol. 12(16), pages 1-12, August.
    11. Jean-Stéphane Mésonnier, 2019. "Banks' climate commitments and credit to brown industries: new evidence for France," Working papers 743, Banque de France.
    12. Alexandre Garel & Arthur Petit-Romec, 2020. "Investor Horizons and Employee Satisfaction: A test of the long-term perspective vision of CSR," Economics Bulletin, AccessEcon, vol. 40(1), pages 765-781.
    13. Isabel‐María García‐Sánchez & Lázaro Rodríguez‐Ariza & Beatriz Aibar‐Guzmán & Cristina Aibar‐Guzmán, 2020. "Do institutional investors drive corporate transparency regarding business contribution to the sustainable development goals?," Business Strategy and the Environment, Wiley Blackwell, vol. 29(5), pages 2019-2036, July.
    14. Barkó, Tamás & Cremers, M. & Renneboog, Luc, 2017. "Shareholder Engagement on Environmental, Social, and Governance Performance," Other publications TiSEM bb1f0349-1f6f-49a4-9d62-1, Tilburg University, School of Economics and Management.

  11. Thesmar , David & Bouchaud, Jean-Philippe & Krueger , Philipp & Landier , Augustin, 2016. "Sticky Expectations and Stock Market Anomalies," HEC Research Papers Series 1136, HEC Paris.

    Cited by:

    1. Keqi Chen, 2020. "A Closer Look at Analyst Expectations: Stickiness and Confirmation Bias," Journal of Applied Finance & Banking, SCIENPRESS Ltd, vol. 10(5), pages 1-15.
    2. Thesmar , David & Bouchaud , Jean-Philippe & Stefano , Ciliberti & Landier , Augustin & Simon , Guillaume, 2016. "The Excess Returns of 'Quality' Stocks: A Behavioral Anomaly," HEC Research Papers Series 1134, HEC Paris.
    3. Ulrike Malmendier, 2018. "Behavioral Corporate Finance," NBER Working Papers 25162, National Bureau of Economic Research, Inc.
    4. Johannes Maier & Clemens König, 2016. "A Model of Reference-Dependent Belief Updating," CESifo Working Paper Series 6156, CESifo.

  12. Jean-Philippe Bouchaud & Philipp Krueger & Augustin Landier & David Thesmar, 2016. "Sticky Expectations and the Profitability Anomaly," Swiss Finance Institute Research Paper Series 16-60, Swiss Finance Institute.

    Cited by:

    1. Benjamin Born & Zeno Enders & Manuel Menkhoff & Gernot J. Müller & Knut Niemann, 2023. "Firm Expectations and News: Micro v Macro," ifo Working Paper Series 400, ifo Institute - Leibniz Institute for Economic Research at the University of Munich.
    2. Born, Benjamin & Enders, Zeno & Müller, Gernot, 2023. "On FIRE, news, and expectations," CEPR Discussion Papers 18259, C.E.P.R. Discussion Papers.
      • Born, Benjamin & Enders, Zeno & Müller, Gernot J., 2023. "On FIRE, news, and expectations," Working Papers 42, German Research Foundation's Priority Programme 1859 "Experience and Expectation. Historical Foundations of Economic Behaviour", Humboldt University Berlin.
    3. Doron Avramov & Guy Kaplanski & Avanidhar Subrahmanyam, 2022. "Postfundamentals Price Drift in Capital Markets: A Regression Regularization Perspective," Management Science, INFORMS, vol. 68(10), pages 7658-7681, October.
    4. Artūras Juodis & Simas Kučinskas, 2023. "Quantifying noise in survey expectations," Quantitative Economics, Econometric Society, vol. 14(2), pages 609-650, May.
    5. Leland E. Farmer & Lawrence Schmidt & Allan Timmermann, 2023. "Pockets of Predictability," Journal of Finance, American Finance Association, vol. 78(3), pages 1279-1341, June.
    6. Pedro Bordalo & Nicola Gennaioli & Rafael La Porta & Andrei Shleifer, 2017. "Diagnostic Expectations and Stock Returns," NBER Working Papers 23863, National Bureau of Economic Research, Inc.
    7. Chemla, Gilles & Hennessy, Christopher, 2019. "Equilibrium Counterfactuals," CEPR Discussion Papers 14146, C.E.P.R. Discussion Papers.
    8. Jules H van Binsbergen & Xiao Han & Alejandro Lopez-Lira, 2023. "Man versus Machine Learning: The Term Structure of Earnings Expectations and Conditional Biases," The Review of Financial Studies, Society for Financial Studies, vol. 36(6), pages 2361-2396.
    9. , & Stein, Tobias, 2021. "Equity premium predictability over the business cycle," CEPR Discussion Papers 16357, C.E.P.R. Discussion Papers.
    10. Chen, Heng & Li, Xu & Pei, Guangyu & Xin, Qian, 2024. "Heterogeneous overreaction in expectation formation: Evidence and theory," Journal of Economic Theory, Elsevier, vol. 218(C).
    11. Yin, Libo & Wei, Ya & Han, Liyan, 2020. "Firms' profit instability and the cross-section of stock returns: Evidence from China," Research in International Business and Finance, Elsevier, vol. 53(C).
    12. Hagenhoff, Tim & Lustenhouwer, Joep, 2020. "The role of stickiness, extrapolation and past consensus forecasts in macroeconomic expectations," Working Papers 0686, University of Heidelberg, Department of Economics.
    13. Augustin Landier & David Thesmar, 2020. "Earnings Expectations in the COVID Crisis," Working Papers hal-02910083, HAL.
    14. Scott R. Baker & Robert A Farrokhnia & Steffen Meyer & Michaela Pagel & Constantine Yannelis, 2023. "Income, Liquidity, and the Consumption Response to the 2020 Economic Stimulus Payments," Review of Finance, European Finance Association, vol. 27(6), pages 2271-2304.
    15. Flögel, Volker & Schlag, Christian & Zunft, Claudia, 2022. "Momentum-Managed Equity Factors," Journal of Banking & Finance, Elsevier, vol. 137(C).
    16. Thesmar, David & Landier, Augustin & Ma, Yueran, 2017. "New Experimental Evidence on Expectations Formation," CEPR Discussion Papers 12527, C.E.P.R. Discussion Papers.
    17. Roberto Gómez‐Cram, 2022. "Late to Recessions: Stocks and the Business Cycle," Journal of Finance, American Finance Association, vol. 77(2), pages 923-966, April.
    18. Martínez-de-Albéniz, Victor & Belkaid, Abdel, 2021. "Here comes the sun: Fashion goods retailing under weather fluctuations," European Journal of Operational Research, Elsevier, vol. 294(3), pages 820-830.
    19. R. Jared DeLisle & H. Zafer Yüksel & Gulnara R. Zaynutdinova, 2020. "What'S In A Name? A Cautionary Tale Of Profitability Anomalies And Limits To Arbitrage," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 43(2), pages 305-344, May.
    20. Bender, Svetlana & Choi, James J. & Dyson, Danielle & Robertson, Adriana Z., 2022. "Millionaires speak: What drives their personal investment decisions?," Journal of Financial Economics, Elsevier, vol. 146(1), pages 305-330.
    21. Matteo Bizzarri & Daniele d'Arienzo, 2023. "The social value of overreaction to information," CSEF Working Papers 690, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.
    22. Pedro Bordalo & Nicola Gennaioli & Rafael La Porta & Andrei Shleifer, 2020. "Belief Overreaction and Stock Market Puzzles," NBER Working Papers 27283, National Bureau of Economic Research, Inc.
    23. Rizzo, Emanuele, 2018. "Essays on corporate governance and the impact of regulation on financial markets," Other publications TiSEM b5158260-ea13-4763-b992-6, Tilburg University, School of Economics and Management.
    24. Guo, Xu & Lin, Hai & Wu, Chunchi & Zhou, Guofu, 2022. "Predictive information in corporate bond yields," Journal of Financial Markets, Elsevier, vol. 59(PB).
    25. Vincent, Kendro & Hsu, Yu-Chin & Lin, Hsiou-Wei, 2021. "Investment styles and the multiple testing of cross-sectional stock return predictability," Journal of Financial Markets, Elsevier, vol. 56(C).
    26. Xin Chen & Wei He & Libin Tao & Jianfeng Yu, 2023. "Attention and Underreaction-Related Anomalies," Management Science, INFORMS, vol. 69(1), pages 636-659, January.
    27. Guo, Li & Li, Frank Weikai & John Wei, K.C., 2020. "Security analysts and capital market anomalies," Journal of Financial Economics, Elsevier, vol. 137(1), pages 204-230.
    28. Lars A. Lochstoer & Tyler Muir, 2022. "Volatility Expectations and Returns," Journal of Finance, American Finance Association, vol. 77(2), pages 1055-1096, April.
    29. Enke, Benjamin & Schwerter, Frederik & Zimmermann, Florian, 2024. "Associative memory, beliefs and market interactions," Journal of Financial Economics, Elsevier, vol. 157(C).
    30. Zihang Peng, 2023. "Do risk exposures explain accounting anomalies? A new testing method," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 63(3), pages 2965-2983, September.
    31. Hagenhoff, Tim & Lustenhouwer, Joep, 2020. "The role of stickiness, extrapolation and past consensus forecasts in macroeconomic expectations," BERG Working Paper Series 163, Bamberg University, Bamberg Economic Research Group.
    32. Karnaukh, Nina & Vokata, Petra, 2022. "Growth forecasts and news about monetary policy," Journal of Financial Economics, Elsevier, vol. 146(1), pages 55-70.
    33. Kale, Arati & Kale, Devendra, 2023. "Do exogenous economic crises change investors’ response to earnings announcements?: A detailed review using the data from COVID-19 pandemic," The Journal of Economic Asymmetries, Elsevier, vol. 28(C).
    34. Gilles Chemla & Christopher Hennessy, 2021. "Equilibrium Counterfactuals," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 62(2), pages 639-669, May.
    35. Pablo Pastory y Camarasa & Martien Lamers, 2023. "Do Actions Follow Words? How bank sentiment predicts credit growth," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 23/1073, Ghent University, Faculty of Economics and Business Administration.
    36. Bogousslavsky, Vincent, 2021. "The cross-section of intraday and overnight returns," Journal of Financial Economics, Elsevier, vol. 141(1), pages 172-194.
    37. Zaremba, Adam & Cakici, Nusret & Bianchi, Robert J. & Long, Huaigang, 2023. "Interest rate changes and the cross-section of global equity returns," Journal of Economic Dynamics and Control, Elsevier, vol. 147(C).
    38. Qiao, Fang, 2024. "Do analysts disseminate anomaly information in China?," Journal of Banking & Finance, Elsevier, vol. 165(C).
    39. Wang, Y. & Wang, J. & He, W., 2022. "Development of efficient, flexible and affordable heat pumps for supporting heat and power decarbonisation in the UK and beyond: Review and perspectives," Renewable and Sustainable Energy Reviews, Elsevier, vol. 154(C).
    40. Yu, Hsin-Yi & Chen, Li-Wen & Chen, Chang-Yi, 2022. "The profitability effect: An evaluation of alternative explanations," Pacific-Basin Finance Journal, Elsevier, vol. 72(C).
    41. Jiang, Hao & Li, Sophia Zhengzi & Wang, Hao, 2021. "Pervasive underreaction: Evidence from high-frequency data," Journal of Financial Economics, Elsevier, vol. 141(2), pages 573-599.
    42. Jean Paul Rabanal & Aleksei Chernulich & John Horowitz & Olga A. Rud & Manizha Sharifova, 2019. "Market timing under public and private information," Working Papers 151, Peruvian Economic Association.
    43. Yueran Ma & Tiziano Ropele & David Sraer & David Thesmar, 2020. "A Quantitative Analysis of Distortions in Managerial Forecasts," NBER Working Papers 26830, National Bureau of Economic Research, Inc.
    44. Li, Lin & Liu, Kunyu & Li, Guoping, 2024. "What can analyst forecasts tell us about imperfect information?," International Review of Economics & Finance, Elsevier, vol. 92(C), pages 1059-1073.
    45. Hagenhoff, Tim & Lustenhouwer, Joep, 2023. "The role of stickiness, extrapolation and past consensus forecasts in macroeconomic expectations," Journal of Economic Dynamics and Control, Elsevier, vol. 149(C).
    46. David Hirshleifer, 2020. "Presidential Address: Social Transmission Bias in Economics and Finance," Journal of Finance, American Finance Association, vol. 75(4), pages 1779-1831, August.
    47. Chernulich, Aleksei & Horowitz, John & Rabanal, Jean Paul & Rud, Olga A & Sharifova , Manizha, 2021. "Entry and exit decisions under public and private information: An experiment," UiS Working Papers in Economics and Finance 2021/3, University of Stavanger.
    48. Aleksei Chernulich & John Horowitz & Jean Paul Rabanal & Olga Rud & Manizha Sharifova, 2023. "Entry and exit decisions under public and private information: an experiment," Experimental Economics, Springer;Economic Science Association, vol. 26(2), pages 339-356, April.
    49. Florent Benaych-Georges & Jean-Philippe Bouchaud & Stefano Ciliberti, 2020. "Equity Factors: To Short Or Not To Short, That Is The Question," Papers 2003.10419, arXiv.org, revised Apr 2021.
    50. Francesco Bianchi & Sydney C. Ludvigson & Sai Ma, 2022. "Belief Distortions and Macroeconomic Fluctuations," American Economic Review, American Economic Association, vol. 112(7), pages 2269-2315, July.
    51. Liu, Laura Xiaolei & Zhu, Yandi & Zhang, Xinyu & Zhang, Yingguang, 2023. "Expectation disarray: Analysts' growth forecast anomaly in China," Pacific-Basin Finance Journal, Elsevier, vol. 82(C).
    52. Cho-Hoi Hui & Chi-Fai Lo & Chi-Hei Liu, 2023. "Equity Price Dynamics under Shocks: In Distress or Short Squeeze," Risks, MDPI, vol. 12(1), pages 1-19, December.
    53. Ye Li & Chen Wang, 2023. "Valuation Duration of the Stock Market," Papers 2310.07110, arXiv.org.
    54. Artikis, Panagiotis G. & Diamantopoulou, Lydia & Papanastasopoulos, Georgios A. & Sorros, John N., 2022. "Asset growth and stock returns in european equity markets: Implications of investment and accounting distortions," Journal of Corporate Finance, Elsevier, vol. 73(C).
    55. Zhou, Ye & Huang, Difang & Chen, Muzi & Wang, Yunlong & Yang, Xiaoguang, 2024. "How did small business respond to unexpected shocks? Evidence from a natural experiment in China," Journal of Corporate Finance, Elsevier, vol. 84(C).

  13. Matthias EFING & Rüdiger FAHLENBRACH & Christoph HERPFER & Philipp KRÜGER, 2015. "How Do Investors and Firms React to an Unexpected Currency Appreciation Shock?," Swiss Finance Institute Research Paper Series 15-65, Swiss Finance Institute, revised Jan 2016.

    Cited by:

    1. Buchholz, Manuel & von Schweinitz, Gregor & Tonzer, Lena, 2018. "Did the Swiss exchange rate shock shock the market?," IWH Discussion Papers 9/2018, Halle Institute for Economic Research (IWH).
    2. Barthélémy Bonadio & Andreas M. Fischer & Philip Saure, 2016. "The speed of exchange rate pass-through," Globalization Institute Working Papers 282, Federal Reserve Bank of Dallas.
    3. Hau, Harald & Huang, Yi & Wang, Gewei, 2016. "Firm Response to Competitive Shocks: Evidence from China's Minimum Wage Policy," CEPR Discussion Papers 11429, C.E.P.R. Discussion Papers.
    4. Raphael Auer & Ariel Burstein & Sarah M. Lein, 2021. "Exchange Rates and Prices: Evidence from the 2015 Swiss Franc Appreciation," NBER Working Papers 28404, National Bureau of Economic Research, Inc.
    5. Raphael Auer & Ariel Burstein & Katharina Erhardt & Sarah M. Lein, 2019. "Exports and Invoicing: Evidence from the 2015 Swiss Franc Appreciation," AEA Papers and Proceedings, American Economic Association, vol. 109, pages 533-538, May.
    6. Daniel Kaufmann & Tobias Renkin, 2019. "Export Prices, Markups, and Currency Choice after a Large Appreciation," IRENE Working Papers 19-07, IRENE Institute of Economic Research.
    7. Dibiasi, Andreas & Abberger, Klaus & Siegenthaler, Michael & Sturm, Jan-Egbert, 2018. "The effects of policy uncertainty on investment: Evidence from the unexpected acceptance of a far-reaching referendum in Switzerland," European Economic Review, Elsevier, vol. 104(C), pages 38-67.
    8. Gregor von Schweinitz & Lena Tonzer & Manuel Buchholz, 2021. "Monetary policy through exchange rate pegs: The removal of the Swiss franc‐Euro floor and stock price reactions," International Review of Finance, International Review of Finance Ltd., vol. 21(4), pages 1382-1406, December.
    9. Luzi Hail & Maximilian Muhn & David Oesch, 2021. "Do Risk Disclosures Matter When It Counts? Evidence from the Swiss Franc Shock," Journal of Accounting Research, Wiley Blackwell, vol. 59(1), pages 283-330, March.

  14. Philipp KRÜGER, 2015. "Climate Change and Firm Valuation: Evidence from a Quasi-Natural Experiment," Swiss Finance Institute Research Paper Series 15-40, Swiss Finance Institute.

    Cited by:

    1. Stefano Ramelli & Alexander F. Wagner & Richard J. Zeckhauser & Alexandre Ziegler, 2018. "Investor Rewards to Climate Responsibility: Evidence from the 2016 Climate Policy Shock," NBER Working Papers 25310, National Bureau of Economic Research, Inc.
    2. Caroline Flammer & Michael W. Toffel & Kala Viswanathan, 2021. "Shareholder activism and firms' voluntary disclosure of climate change risks," Strategic Management Journal, Wiley Blackwell, vol. 42(10), pages 1850-1879, October.
    3. Stefano Ramelli & Alexander F Wagner & Richard J Zeckhauser & Alexandre Ziegler, 2021. "Investor Rewards to Climate Responsibility: Stock-Price Responses to the Opposite Shocks of the 2016 and 2020 U.S. Elections [Asset pricing with liquidity risk]," The Review of Corporate Finance Studies, Society for Financial Studies, vol. 10(4), pages 748-787.
    4. Benedikt Downar & Jürgen Ernstberger & Hannes Rettenbacher & Sebastian Schwenen & Aleksandar Zaklan, 2019. "Fighting Climate Change with Disclosure? The Real Effects of Mandatory Greenhouse Gas Emission Disclosure," Discussion Papers of DIW Berlin 1795, DIW Berlin, German Institute for Economic Research.
    5. Itzhak Ben-David & Stefanie Kleimeier & Michael Viehs, 2018. "Exporting Pollution: Where Do Multinational Firms Emit CO₂?," NBER Working Papers 25063, National Bureau of Economic Research, Inc.
    6. Benedikt Downar & Jürgen Ernstberger & Stefan Reichelstein & Sebastian Schwenen & Aleksandar Zaklan, 2020. "The Impact of Carbon Disclosure Mandates on Emissions and Financial Operating Performance," Discussion Papers of DIW Berlin 1875, DIW Berlin, German Institute for Economic Research.
    7. Chaudhry, Neeru & Kumari, Damini, 2024. "How do banks price carbon risk? Evidence from India," Pacific-Basin Finance Journal, Elsevier, vol. 84(C).
    8. Harding, Matthew & Kettler, Kyle & Lamarche, Carlos & Ma, Lala, 2021. "The (Alleged) Environmental and Social Benefits of Dynamic Pricing," IZA Discussion Papers 14846, Institute of Labor Economics (IZA).
    9. Y.-S. Ren & S. Boubaker & P.-Z. Liu & O. Weber, 2023. "How Does Carbon Regulatory Policy Affect Debt Financing Costs? Empirical Evidence from China," Post-Print hal-04435562, HAL.
    10. Tristan Jourde & Arthur Stalla-Bourdillon, 2024. "PEnvironmental Preferences and Sector Valuations," Working papers 964, Banque de France.
    11. Venturini, Alessio, 2022. "Climate change, risk factors and stock returns: A review of the literature," International Review of Financial Analysis, Elsevier, vol. 79(C).
    12. Itzhak Ben-David & Yeejin Jang & Stefanie Kleimeier & Michael Viehs, 2021. "Exporting pollution: where do multinational firms emit CO2? [Effects of air quality regulations on polluting industries]," Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, vol. 36(107), pages 377-437.
    13. Vestrelli, Roberto & Fronzetti Colladon, Andrea & Pisello, Anna Laura, 2024. "When attention to climate change matters: The impact of climate risk disclosure on firm market value," Energy Policy, Elsevier, vol. 185(C).

  15. Krüger, Philipp & Landier, Augustin & Thesmar, David, 2011. "The WACC Fallacy: The Real Effects of Using a Unique Discount Rate," TSE Working Papers 11-222, Toulouse School of Economics (TSE).

    Cited by:

    1. Randolph Sloof & Mirjam van Praag, 2014. "Testing for Distortions in Performance Measures: An Application to Residual Income Based Measures like Economic Value Added," Tinbergen Institute Discussion Papers 14-056/V, Tinbergen Institute.
    2. Pavlova, Anna & Kashyap, Anil & Kovrijnykh, Natalia & ,, 2018. "The Benchmark Inclusion Subsidy," CEPR Discussion Papers 13356, C.E.P.R. Discussion Papers.
    3. Alexandridis, George & Chen, Zhong & Zeng, Yeqin, 2021. "Financial hedging and corporate investment," Journal of Corporate Finance, Elsevier, vol. 67(C).
    4. Thesmar, David & Otto, Clemens & Olivier, Jacques, 2017. "CAPM-Based Company (Mis)valuations," CEPR Discussion Papers 12526, C.E.P.R. Discussion Papers.
    5. Rick van der Ploeg, 2020. "Discounting and Climate Policy," CESifo Working Paper Series 8441, CESifo.
    6. Marcelo Bianconi & Joe Akira Yoshino, 2015. "Empirical Estimation of the Cost of Equity: An Application to Selected Brazilian Utilities Companies," Review of Economics & Finance, Better Advances Press, Canada, vol. 5, pages 1-21, February.
    7. Bilicka, Katarzyna & Qi, Yaxuan & Xing, Jing, 2022. "Real responses to anti-tax avoidance: Evidence from the UK Worldwide Debt Cap," Journal of Public Economics, Elsevier, vol. 214(C).
    8. Christian Gollier, 2021. "The Welfare Cost of Ignoring the Beta," Working Papers 2021.03, Fondazione Eni Enrico Mattei.
    9. Frédéric Cherbonnier & Christian Gollier, 2022. "Risk-adjusted Social Discount Rates," Post-Print hal-04012977, HAL.
    10. Kudret Topyan, 2021. "Levered-Beta and Cost of Capital Sensitivities: An Experimental Investigation in Capital Structure," JRFM, MDPI, vol. 14(4), pages 1-14, April.
    11. Christian Gollier & Frederick van der Ploeg & Jiakun Zheng, 2022. "The discounting premium puzzle: survey evidence from professional economists," Economics Series Working Papers 976, University of Oxford, Department of Economics.
    12. Zhe Li & Oksana Pryshchepa & Bo Wang, 2023. "Financial experts on the top management team: Do they reduce investment inefficiency?," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 50(1-2), pages 198-235, January.
    13. Gollier, Christian, 2012. "Asset pricing with uncertain betas: A long-term perspective," IDEI Working Papers 752, Institut d'Économie Industrielle (IDEI), Toulouse.
    14. Gollier, Christian, 2012. "A theory of rational short-termism with uncertain betas," LERNA Working Papers 12.14.371, LERNA, University of Toulouse.
    15. Malcolm Baker & Jeffrey Wurgler, 2011. "Behavioral Corporate Finance: An Updated Survey," NBER Working Papers 17333, National Bureau of Economic Research, Inc.
    16. Neamtu, Ioana & Vo, Quynh-Anh, 2021. "Capital allocation, the leverage ratio requirement," Bank of England working papers 956, Bank of England.
    17. Custódio, Cláudia & Mendes, Diogo & Metzger, Daniel, 2020. "The Impact of Financial Education of Managers on Medium and Large Enterprises - A Randomized Controlled Trial in Mozambique," CEPR Discussion Papers 15294, C.E.P.R. Discussion Papers.
    18. Fabian Hollstein & Marcel Prokopczuk & Christoph Matthias Würsig, 2024. "Market power and systematic risk," Financial Management, Financial Management Association International, vol. 53(2), pages 233-266, June.
    19. David Johnstone, 2020. "Fama's Ratio and the Effect of Operating Leverage on the Cost of Capital Under CAPM," Abacus, Accounting Foundation, University of Sydney, vol. 56(2), pages 268-287, June.
    20. Felipe S. Iachan, 2020. "Capital Budgeting and Risk Taking Under Credit Constraints," Management Science, INFORMS, vol. 66(9), pages 4292-4314, September.
    21. Nadeem, Muhammad & Suleman, Tahir & Ahmed, Ammad, 2019. "Women on boards, firm risk and the profitability nexus: Does gender diversity moderate the risk and return relationship?," International Review of Economics & Finance, Elsevier, vol. 64(C), pages 427-442.
    22. Cherbonnier, Frédéric & Gollier, Christian, 2018. "Risk-adjusted social discount rates," TSE Working Papers 18-972, Toulouse School of Economics (TSE), revised Dec 2020.
    23. Ulrike Malmendier, 2018. "Behavioral Corporate Finance," NBER Working Papers 25162, National Bureau of Economic Research, Inc.
    24. Frederic Cherbonnier & Christian Gollier, 2022. "Risk-adjusted Social Discount Rates," The Energy Journal, , vol. 43(4), pages 45-68, May.
    25. Matthijs Breugem & Roberto Marfè & Francesca Zucchi, 2020. "Corporate Policies and the Term Structure of Risk," Carlo Alberto Notebooks 627, Collegio Carlo Alberto.
    26. Gollier, Christian, 2024. "The welfare cost of ignoring the beta," TSE Working Papers 24-1556, Toulouse School of Economics (TSE).
    27. Marius Guenzel & Ulrike Malmendier, 2020. "Behavioral Corporate Finance: The Life Cycle of a CEO Career," NBER Working Papers 27635, National Bureau of Economic Research, Inc.
    28. Winifrida Mwanga & Adeoye Crispin John Mbogo, 2023. "Drivers of Weighted Average Cost of Capital in Selected Listed Companies in Tanzania," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 7(7), pages 1601-1618, July.
    29. Knolle, Julia, 2020. "Prosperity in a Low Interest Environment," MPRA Paper 104332, University Library of Munich, Germany.
    30. John R. Graham, 2022. "Presidential Address: Corporate Finance and Reality," Journal of Finance, American Finance Association, vol. 77(4), pages 1975-2049, August.
    31. Schneider, C.A.R. & Spalt, Oliver, 2016. "Conglomerate investment, skewness, and the CEO long shot bias," Other publications TiSEM 5d9321e2-35ea-40f9-9eae-4, Tilburg University, School of Economics and Management.
    32. Marcel Boyer & Éric Gravel & Sandy Mokbel, 2013. "The Valuation of Public Projects: Risks, Cost of Financing and Cost of Capital Current," C.D. Howe Institute Commentary, C.D. Howe Institute, issue 388, September.
    33. Malmendier, Ulrike M. & Guenzel, Marius, 2020. "Behavioral Corporate Finance: The Life Cycle of a CEO Career," CEPR Discussion Papers 15103, C.E.P.R. Discussion Papers.
    34. Olivier Dessaint & Jacques Olivier & Clemens A Otto & David Thesmar, 2021. "CAPM-Based Company (Mis)valuations [Credit lines as monitored liquidity insurance: Theory and evidence]," The Review of Financial Studies, Society for Financial Studies, vol. 34(1), pages 1-66.
    35. Jessen, Cathrine & Lando, David, 2015. "Robustness of distance-to-default," Journal of Banking & Finance, Elsevier, vol. 50(C), pages 493-505.
    36. Zbysław Dobrowolski & Grzegorz Drozdowski & Mirela Panait & Simona Andreea Apostu, 2022. "The Weighted Average Cost of Capital and Its Universality in Crisis Times: Evidence from the Energy Sector," Energies, MDPI, vol. 15(18), pages 1-15, September.
    37. El Mouaaouy Florian & Riepe Jan, 2018. "Benford and the Internal Capital Market: A Useful Indicator of Managerial Engagement," German Economic Review, De Gruyter, vol. 19(3), pages 309-329, August.
    38. Claudia Custodio & Diogo Mendes & Daniel Metzger, 2021. "The impact of financial education of executives on financial practices of medium and large enterprises," NOVAFRICA Working Paper Series wp2105, Universidade Nova de Lisboa, Nova School of Business and Economics, NOVAFRICA.
    39. Custódio, Cláudia & Metzger, Daniel, 2014. "Financial expert CEOs: CEO׳s work experience and firm׳s financial policies," Journal of Financial Economics, Elsevier, vol. 114(1), pages 125-154.
    40. Pedro Antonio Martín-Cervantes & María del Carmen Valls Martínez, 2023. "Unraveling the relationship between betas and ESG scores through the Random Forests methodology," Risk Management, Palgrave Macmillan, vol. 25(3), pages 1-29, September.
    41. David Johnstone, 2017. "Sensitivity of the Discount Rate to the Expected Payoff in Project Valuation," Decision Analysis, INFORMS, vol. 14(2), pages 126-136, June.
    42. Frédéric CHERBONNIER & Ulrich HEGE, 2020. "Risques climatiques et règlementation financière prudentielle," Working Paper b08f5c14-94fc-4ccc-b857-6, Agence française de développement.
    43. Kayo, Eduardo K. & Martelanc, Roy & Brunaldi, Eduardo O. & da Silva, Walter E., 2020. "Capital asset pricing model, beta stability, and the pricing puzzle of electricity transmission in Brazil," Energy Policy, Elsevier, vol. 142(C).
    44. Michi Nishihara, 2021. "Preemptive competition between two firms with different discount rates," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 42(3), pages 675-687, April.
    45. Juan Carluccio & Clément Mazet-Sonilhac & Jean-Stéphane Mésonnier, 2019. "Investment and the WACC: new micro evidence for France," Working papers 710, Banque de France.
    46. Gatzer, Sebastian & Hoang, Daniel & Ruckes, Martin, 2015. "Internal Capital Markets and Diversified Firms: Theory and Practice," EconStor Preprints 169432, ZBW - Leibniz Information Centre for Economics.
    47. Berchtold, Demian & Dichter, Oliver & Loderer, Claudio & Waelchli, Urs, 2021. "Pension risk and corporate investment distortion," Journal of Corporate Finance, Elsevier, vol. 68(C).

Articles

  1. Emirhan Ilhan & Philipp Krueger & Zacharias Sautner & Laura T Starks, 2023. "Climate Risk Disclosure and Institutional Investors," The Review of Financial Studies, Society for Financial Studies, vol. 36(7), pages 2617-2650.

    Cited by:

    1. Tuo, Ling & Rezaee, Zabihollah & Gao, Lei, 2024. "Is there a tradeoff between management earnings forecasts and sustainability reporting?," Global Finance Journal, Elsevier, vol. 59(C).
    2. Alix Auzepy & Christina E. Bannier & Fabio Martin, 2023. "Are sustainability‐linked loans designed to effectively incentivize corporate sustainability? A framework for review," Financial Management, Financial Management Association International, vol. 52(4), pages 643-675, December.
    3. Driss, Hamdi & Drobetz, Wolfgang & El Ghoul, Sadok & Guedhami, Omrane, 2024. "The Sustainability committee and environmental disclosure: International evidence," Journal of Economic Behavior & Organization, Elsevier, vol. 221(C), pages 602-625.
    4. Cohen, Shira & Kadach, Igor & Ormazabal, Gaizka, 2023. "Institutional investors, climate disclosure, and carbon emissions," Journal of Accounting and Economics, Elsevier, vol. 76(2).
    5. Huang, Kuo-Jui & Bui, Dien Giau & Hsu, Yuan-Teng & Lin, Chih-Yung, 2024. "The ESG washing in banks: Evidence from the syndicated loan market," Journal of International Money and Finance, Elsevier, vol. 142(C).
    6. Emre Kuvvet, 2024. "Reassessing climate disclosure demands: An examination of stakeholder perspectives beyond institutional investors," Economic Affairs, Wiley Blackwell, vol. 44(1), pages 95-117, February.
    7. Ding, Jinxiu & Li, Lingxue & Zhao, Jinsong, 2024. "How does fintech prompt corporations toward ESG sustainable development? Evidence from China," Energy Economics, Elsevier, vol. 131(C).
    8. Song, Yanheng & Xian, Rui, 2024. "Institutional investors' corporate site visits and firm-level climate change risk disclosure," International Review of Financial Analysis, Elsevier, vol. 93(C).
    9. Martijn Boermans & Rients Galema, 2023. "Carbon home bias of European investors," Working Papers 786, DNB.
    10. Li, Wenqin & Benkraiem, Ramzi & Ding, Rong & Saadi, Samir & Zhang, Ziyang (John), 2024. "Board centrality and environmental disclosures: Evidence from the polluting Industries in China," Emerging Markets Review, Elsevier, vol. 60(C).
    11. Wu, Zihao & Lin, Siliang & Chen, Tianhao & Luo, Chunyang & Xu, Hui, 2023. "Does effective corporate governance mitigate the negative effect of ESG controversies on firm value?," Economic Analysis and Policy, Elsevier, vol. 80(C), pages 1772-1793.
    12. Yongan Xu & Chao Liang, 2024. "Does extreme climate concern drive equity premiums? Evidence from China," Palgrave Communications, Palgrave Macmillan, vol. 11(1), pages 1-14, December.
    13. Hastreiter, Nikolaus, 2024. "Can investor coalitions drive corporate climate action?," LSE Research Online Documents on Economics 125852, London School of Economics and Political Science, LSE Library.
    14. Hao Dong & Tao Li, 2023. "Climate Economics and Finance: A Literature Review," Climate Economics and Finance, Anser Press, vol. 1(1), pages 29-45, November.
    15. Leonardo Bortolan & Atreya Dey & Luca Taschini, 2024. "Volatile Temperatures and Their Effects on Equity Returns and Firm Performance," CESifo Working Paper Series 11438, CESifo.
    16. Long, Wenbin & Zhang, Manqiao & Qu, Xin & Yao, Daifei (Troy) & Hu, Zhongxu, 2023. "Can carbon emission trading scheme reshape audit reporting aggressiveness? Evidence from an incremental information perspective," Finance Research Letters, Elsevier, vol. 58(PD).
    17. Nora M C Pankratz & Christoph M Schiller, 2024. "Climate Change and Adaptation in Global Supply-Chain Networks," The Review of Financial Studies, Society for Financial Studies, vol. 37(6), pages 1729-1777.
    18. Minsu Ko & Cynthia Yin, 2024. "Socially Responsible Investment and Gender Equality in the United States Census," Working Papers 24-44, Center for Economic Studies, U.S. Census Bureau.
    19. Provaty, Sagira Sultana & Hasan, Mostafa Monzur & Luo, Le, 2024. "Organization capital and GHG emissions," Energy Economics, Elsevier, vol. 131(C).

  2. Matthias Efing & Rüdiger Fahlenbrach & Christoph Herpfer & Philipp Krueger, 2023. "How Do Investors and Firms React to a Large, Unexpected Currency Appreciation Shock?," The Review of Corporate Finance Studies, Society for Financial Studies, vol. 12(3), pages 488-538.

    Cited by:

    1. Patrick Arni & Pether H. Egger & Katharina Erhardt & Matthias Gubler & Philip Sauré, 2024. "Heterogeneous Impacts of Trade Shocks on Workers," Working Papers 2409, Gutenberg School of Management and Economics, Johannes Gutenberg-Universität Mainz.

  3. Rajna Gibson Brandon & Simon Glossner & Philipp Krueger & Pedro Matos & Tom Steffen, 2022. "Do Responsible Investors Invest Responsibly? [Why and how investors use ESG information: evidence from a global survey]," Review of Finance, European Finance Association, vol. 26(6), pages 1389-1432.

    Cited by:

    1. Gow, Ian D. & Larcker, David F. & Watts, Edward M., 2023. "Board diversity and shareholder voting," Journal of Corporate Finance, Elsevier, vol. 83(C).
    2. Cohen, Shira & Kadach, Igor & Ormazabal, Gaizka, 2023. "Institutional investors, climate disclosure, and carbon emissions," Journal of Accounting and Economics, Elsevier, vol. 76(2).
    3. Eduardo C. Garrido-Merch'an & Gabriel Gonz'alez Piris & Maria Coronado Vaca, 2023. "Bayesian Optimization of ESG Financial Investments," Papers 2303.01485, arXiv.org.
    4. Sisi Zheng & Shanyue Jin, 2023. "Can Enterprises in China Achieve Sustainable Development through Green Investment?," IJERPH, MDPI, vol. 20(3), pages 1-25, January.
    5. Zhang, Ning & Zhang, Yue & Zong, Zhe, 2023. "Fund ESG performance and downside risk: Evidence from China," International Review of Financial Analysis, Elsevier, vol. 86(C).
    6. V. Veeravel & E. K. S. Sadharma & Bandi Kamaiah, 2024. "Do ESG disclosures lead to superior firm performance? A method of moments panel quantile regression approach," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 31(1), pages 741-754, January.
    7. Sirio Aramonte & Frank Packer, 2022. "Information governance in sustainable finance," BIS Papers, Bank for International Settlements, number 132.
    8. Ge, Xiaowen & Xue, Minggao & Cao, Ruiyi, 2024. "Do Chinese carbon-intensive stocks overreact to climate transition risk? Evidence from the COP26 news," International Review of Financial Analysis, Elsevier, vol. 94(C).
    9. Martinez Meyers, Susana & Ferrero-Ferrero, Idoya & Muñoz-Torres, María Jesus, 2024. "ARE sustainable funds doing the talk and the walk? An ESG score analysis of fund portfolio holdings," International Review of Economics & Finance, Elsevier, vol. 93(PA), pages 1526-1541.
    10. Caterina Lucarelli & Sabrina Severini, 2024. "Anatomy of the chimera: Environmental, Social, and Governance ratings beyond the myth," Business Strategy and the Environment, Wiley Blackwell, vol. 33(5), pages 4198-4217, July.
    11. Davidson Heath & Daniele Macciocchi & Roni Michaely & Matthew C. Ringgenberg, 2023. "Does Socially Responsible Investing Change Firm Behavior?," Review of Finance, European Finance Association, vol. 27(6), pages 2057-2083.
    12. Diego P. Guisande & Maretno Agus Harjoto & Andreas G. F. Hoepner & Conall O’Sullivan, 2024. "Ethics and Banking: Do Banks Divest Their Kind?," Journal of Business Ethics, Springer, vol. 192(1), pages 191-223, June.
    13. Massimo Guidolin & Monia Magnani, 2024. "Do US Active Mutual Funds Make Good of Their ESG Promises? Evidence from Portfolio Holdings," BAFFI CAREFIN Working Papers 24220, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
    14. Hu, Xiaoxue & Li, Dongxu & Wang, Jingni, 2024. "Green-selecting: Foreign institutional ownership and corporate green practices," Finance Research Letters, Elsevier, vol. 62(PB).
    15. Liliana Rivera & Norma Ortiz & Gabriel Moreno & Iliana Páez-Gabriunas, 2023. "The Effect of Company Ownership on the Environmental Practices in the Supply Chain: An Empirical Approach," Sustainability, MDPI, vol. 15(16), pages 1-24, August.
    16. Hao Liang & Lin Sun & Melvyn Teo, 2022. "Responsible Hedge Funds [Role of managerial incentives and discretion in hedge fund performance]," Review of Finance, European Finance Association, vol. 26(6), pages 1585-1633.
    17. Aswani, Jitendra & Raghunandan, Aneesh & Rajgopal, Shivaram, 2024. "Are carbon emissions associated with stock returns?," LSE Research Online Documents on Economics 118364, London School of Economics and Political Science, LSE Library.
    18. Marcin Kacperczyk & Lin Peng & Jing Xie, 2024. "ESG Investing and Stock Return Comovements," Working Papers 202403, University of Macau, Faculty of Business Administration.
    19. Carlos Ignacio Gallo Aguila & María del Pilar Castro Arellano & Marco Antonio Rodríguez Vega & Eliana Maritza Barturen Mondragón & María del Pilar Quezada Castro & Guillermo Alexander Quezada Cast, 2024. "Trends in Scientific Production on Greenwashing based on Scopus (1990-2023)," International Journal of Energy Economics and Policy, Econjournals, vol. 14(4), pages 464-471, July.
    20. Minsu Ko & Cynthia Yin, 2024. "Socially Responsible Investment and Gender Equality in the United States Census," Working Papers 24-44, Center for Economic Studies, U.S. Census Bureau.

  4. Timo Busch & Peter Bruce-Clark & Jeroen Derwall & Robert Eccles & Tessa Hebb & Andreas Hoepner & Christian Klein & Philipp Krueger & Falko Paetzold & Bert Scholtens & Olaf Weber, 2021. "Impact investments: a call for (re)orientation," SN Business & Economics, Springer, vol. 1(2), pages 1-13, February.

    Cited by:

    1. Anthony Piscitelli, 2023. "Classifying responsible investors: Identifying clusters of Ontario investors," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 94(4), pages 1133-1144, December.
    2. Cojoianu, Theodor F. & Hoepner, Andreas G.F. & Lin, Yanan, 2022. "Private market impact investing firms: Ownership structure and investment style," International Review of Financial Analysis, Elsevier, vol. 84(C).
    3. Berenike Wiener & Georg von Schnurbein, 2023. "Foundation Investment Funds for Grant-Making Foundations in Germany: Do They Facilitate Sustainable Investing?," SAGE Open, , vol. 13(4), pages 21582440231, December.
    4. Joel Diener & André Habisch, 2022. "God’s Stewards: A Global Overview of Christian-Influenced Mutual Fund Providers," JRFM, MDPI, vol. 15(12), pages 1-24, November.
    5. Wilson, Christian & Caldecott, Ben, 2023. "Investigating the role of passive funds in carbon-intensive capital markets: Evidence from U.S. bonds," Ecological Economics, Elsevier, vol. 209(C).
    6. Florian Heeb & Julian F Kölbel & Falko Paetzold & Stefan Zeisberger, 2023. "Do Investors Care about Impact?," The Review of Financial Studies, Society for Financial Studies, vol. 36(5), pages 1737-1787.
    7. Falko Paetzold & Timo Busch & Sebastian Utz & Anne Kellers, 2022. "Between impact and returns: Private investors and the sustainable development goals," Business Strategy and the Environment, Wiley Blackwell, vol. 31(7), pages 3182-3197, November.
    8. Scheitza, Lisa & Busch, Timo, 2024. "SFDR Article 9: Is it all about impact?," Finance Research Letters, Elsevier, vol. 62(PA).

  5. Rajna Gibson Brandon & Philipp Krueger & Peter Steffen Schmidt, 2021. "ESG Rating Disagreement and Stock Returns," Financial Analysts Journal, Taylor & Francis Journals, vol. 77(4), pages 104-127, October.
    See citations under working paper version above.
  6. Philipp Krueger & Zacharias Sautner & Laura T Starks, 2020. "The Importance of Climate Risks for Institutional Investors," The Review of Financial Studies, Society for Financial Studies, vol. 33(3), pages 1067-1111.
    See citations under working paper version above.
  7. Jean‐Philippe Bouchaud & Philipp Krüger & Augustin Landier & David Thesmar, 2019. "Sticky Expectations and the Profitability Anomaly," Journal of Finance, American Finance Association, vol. 74(2), pages 639-674, April.
    See citations under working paper version above.
  8. Krüger, Philipp, 2015. "Corporate goodness and shareholder wealth," Journal of Financial Economics, Elsevier, vol. 115(2), pages 304-329.

    Cited by:

    1. Stefano Ramelli & Alexander F. Wagner & Richard J. Zeckhauser & Alexandre Ziegler, 2018. "Investor Rewards to Climate Responsibility: Evidence from the 2016 Climate Policy Shock," NBER Working Papers 25310, National Bureau of Economic Research, Inc.
    2. Caroline Flammer & Michael W. Toffel & Kala Viswanathan, 2021. "Shareholder activism and firms' voluntary disclosure of climate change risks," Strategic Management Journal, Wiley Blackwell, vol. 42(10), pages 1850-1879, October.
    3. Andreas Hoepner & Lisa Schopohl, 2015. "Red versus Blue: Do Political Dimensions Influence the Investment Preferences of State Pension Funds?," ICMA Centre Discussion Papers in Finance icma-dp2015-06, Henley Business School, University of Reading.
    4. Natalia Semenova, 2023. "The Public Effect of Private Sustainability Reporting: Evidence from Incident-Based Engagement Strategy," Journal of Business Ethics, Springer, vol. 182(2), pages 559-572, January.
    5. Huang, Qiping & Li, Yongjia & Lin, Meimei & McBrayer, Garrett A., 2022. "Natural disasters, risk salience, and corporate ESG disclosure," Journal of Corporate Finance, Elsevier, vol. 72(C).
    6. Thomas J. Chemmanur & Dimitrios Gounopoulos & Panagiotis Koutroumpis & Yu Zhang, 2022. "CSR and Firm Survival: Evidence from the Climate and Pandemic Crises," Working Papers 935, Queen Mary University of London, School of Economics and Finance.
    7. Claire Economidou & Dimitrios Gounopoulos & Dimitrios Konstantios & Emmanuel Tsiritakis, 2023. "Is sustainability rating material to the market?," Financial Management, Financial Management Association International, vol. 52(1), pages 127-179, March.
    8. Renneboog, L.D.R. & Liang, H. & Ferrell, A., 2014. "Socially Responsible Firms," Discussion Paper 2014-029, Tilburg University, Tilburg Law and Economic Center.
    9. Hsu, Bo-Xiang & Chen, Yi-Min & Chen, Li-An (Leann), 2022. "Corporate social responsibility and value added in the supply chain: Model and mechanism," Technological Forecasting and Social Change, Elsevier, vol. 174(C).
    10. Kim, Hyun-Dong & Kim, Taeyeon & Kim, Yura & Park, Kwangwoo, 2019. "Do long-term institutional investors promote corporate social responsibility activities?," Journal of Banking & Finance, Elsevier, vol. 101(C), pages 256-269.
    11. Plastun, Alex & Bouri, Elie & Gupta, Rangan & Ji, Qiang, 2022. "Price effects after one-day abnormal returns in developed and emerging markets: ESG versus traditional indices," The North American Journal of Economics and Finance, Elsevier, vol. 59(C).
    12. Yi, Yuyang & Zhang, Zongyi & Xiang, Cheng, 2022. "The value of CSR during the COVID-19 crisis: Evidence from Chinese firms," Pacific-Basin Finance Journal, Elsevier, vol. 74(C).
    13. Mingying Cheng & Joseph A. Micale, 2022. "ESG Risks and the Value Relevance of Current and Historical Earnings," Financial Markets, Institutions & Instruments, John Wiley & Sons, vol. 31(5), pages 207-237, December.
    14. Rafia Afrin & Ni Peng & Frances Bowen, 2022. "The Wealth Effect of Corporate Water Actions: How Past Corporate Responsibility and Irresponsibility Influence Stock Market Reactions," Journal of Business Ethics, Springer, vol. 180(1), pages 105-124, September.
    15. Stefano Ramelli & Alexander F Wagner & Richard J Zeckhauser & Alexandre Ziegler, 2021. "Investor Rewards to Climate Responsibility: Stock-Price Responses to the Opposite Shocks of the 2016 and 2020 U.S. Elections [Asset pricing with liquidity risk]," The Review of Corporate Finance Studies, Society for Financial Studies, vol. 10(4), pages 748-787.
    16. Natalia Semenova, 2021. "Management control systems in response to social and environmental risk in large Nordic companies," International Journal of Corporate Social Responsibility, Springer, vol. 6(1), pages 1-11, December.
    17. Chowdhury, Hasibul & Hodgson, Allan & Hasan, Mostafa Monzur, 2022. "Does a competitive external labour market affect corporate social responsibility? Evidence from industry tournament incentives," Journal of Behavioral and Experimental Finance, Elsevier, vol. 33(C).
    18. Ertugrul, Mine & Marciukaityte, Dalia, 2021. "Labor unions and corporate social responsibility," Journal of Banking & Finance, Elsevier, vol. 125(C).
    19. Samuel Jebaraj Benjamin & Pallab Kumar Biswas, 2022. "Does winning a CSR Award increase firm value?," International Journal of Disclosure and Governance, Palgrave Macmillan, vol. 19(3), pages 313-329, September.
    20. George Serafeim & Aaron Yoon, 2023. "Stock price reactions to ESG news: the role of ESG ratings and disagreement," Review of Accounting Studies, Springer, vol. 28(3), pages 1500-1530, September.
    21. Hirofumi Nishi & S. Drew Peabody, 2024. "Under the spotlight: The peer standard in CSR and the role of public attention," The Financial Review, Eastern Finance Association, vol. 59(2), pages 373-390, May.
    22. Jiazhen Wang & Jing Yu & Rui Zhong, 2023. "Country environmental, social and governance performance and economic growth: The international evidence," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 63(4), pages 3911-3941, December.
    23. Massa, Massimo & Manconi, Alberto & Luo, Mancy, 2017. "Much Ado About Nothing: Is the Market Affected by Political Bias?," CEPR Discussion Papers 11991, C.E.P.R. Discussion Papers.
    24. Alexander Dyck & Karl V. Lins & Lukas Roth & Mitch Towner & Hannes F. Wagner, 2023. "Renewable Governance: Good for the Environment?," Journal of Accounting Research, Wiley Blackwell, vol. 61(1), pages 279-327, March.
    25. Gehrig, Thomas & Iannino, Maria Chiara & Unger, Stephan, 2024. "Social responsibility and bank resiliency," Journal of Financial Stability, Elsevier, vol. 70(C).
    26. Renneboog, L.D.R. & Liang, H. & Ferrell, A., 2014. "Socially Responsible Firms," Other publications TiSEM d0e94017-b378-4134-9e56-2, Tilburg University, School of Economics and Management.
    27. Hao Liang & Luc Renneboog, 2017. "On the Foundations of Corporate Social Responsibility," Journal of Finance, American Finance Association, vol. 72(2), pages 853-910, April.
    28. Gao, Feng & Li, Yubin & Wang, Xinjie & Zhong, Zhaodong (Ken), 2021. "Corporate social responsibility and the term structure of CDS spreads," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 74(C).
    29. Hasan, Iftekhar & Noth, Felix & Tonzer, Lena, 2019. "Thou shalt not bear false witness against your customers: Cultural norms and the Volkswagen scandal," IWH Discussion Papers 21/2019, Halle Institute for Economic Research (IWH).
    30. Shahid Ali & Junrui Zhang & Muhammad Usman & Muhammad Kaleem Khan & Farman Ullah Khan & Muhammad Abubakkar Siddique, 2020. "Do tournament incentives motivate chief executive officers to be socially responsible?," Managerial Auditing Journal, Emerald Group Publishing Limited, vol. 35(5), pages 597-619, February.
    31. S. Boubaker & K. Chebbi & J. Grira, 2020. "Top Management inside Debt and Corporate Social Responsibility? Evidence from the US," Post-Print hal-04457120, HAL.
    32. Liming Zhao & Miles M. Yang & Zhenyuan Wang & Grant Michelson, 2023. "Trends in the Dynamic Evolution of Corporate Social Responsibility and Leadership: A Literature Review and Bibliometric Analysis," Journal of Business Ethics, Springer, vol. 182(1), pages 135-157, January.
    33. Sun, Xian & Gunia, Brian C., 2018. "Economic resources and corporate social responsibility," Journal of Corporate Finance, Elsevier, vol. 51(C), pages 332-351.
    34. Ioannis Tampakoudis & Evgenia Anagnostopoulou, 2020. "The effect of mergers and acquisitions on environmental, social and governance performance and market value: Evidence from EU acquirers," Business Strategy and the Environment, Wiley Blackwell, vol. 29(5), pages 1865-1875, July.
    35. Chen, Jie & Liu, Xicheng & Song, Wei & Zhou, Si, 2020. "General managerial skills and corporate social responsibility," Journal of Empirical Finance, Elsevier, vol. 55(C), pages 43-59.
    36. Luo, Yan & Tian, Shu & Yang, Hao, 2021. "Green Bonds, Air Quality, and Mortality: Evidence from the People’s Republic of China," ADB Economics Working Paper Series 641, Asian Development Bank.
    37. Kim, Incheol & Pantzalis, Christos & Zhang, Zhengyi, 2021. "Multinationality and the value of green innovation," Journal of Corporate Finance, Elsevier, vol. 69(C).
    38. Dogru, Tarik & Akyildirim, Erdinc & Cepni, Oguzhan & Ozdemir, Ozgur & Sharma, Abhinav & Yilmaz, Muhammed Hasan, 2022. "The effect of environmental, social and governance risks," Annals of Tourism Research, Elsevier, vol. 95(C).
    39. Affolter, Beat & Ciarla, Elisa & Meyer, Julia & Sugandhita, Sugandhita, 2024. "Signaling sustainability: Differential reaction of the stock market following the announcement of sustainability-linked bonds," Finance Research Letters, Elsevier, vol. 63(C).
    40. Rajiv Kashyap & Mohamed Menisy & Peter Caiazzo & Jim Samuel, 2020. "Transparency versus Performance in Financial Markets: The Role of CSR Communications," Papers 2008.03443, arXiv.org.
    41. Liang, Hao & Renneboog, Luc, 2017. "On the foundations of corporate social responsibility," Other publications TiSEM c6821f0a-e7f0-41da-adba-1, Tilburg University, School of Economics and Management.
    42. Renneboog, L.D.R. & Liang, H. & Ferrell, A., 2014. "Socially Responsible Firms," Other publications TiSEM b543ca6a-e8f8-490e-9ae2-d, Tilburg University, School of Economics and Management.
    43. Erragragui, Elias & Peillex, Jonathan & Benlemlih, Mohammed & Bitar, Mohammad, 2023. "Stock market reactions to corporate misconduct: The moderating role of legal origin," Economic Modelling, Elsevier, vol. 121(C).
    44. Agoraki, Maria-Eleni K. & Giaka, Maria & Konstantios, Dimitrios & Patsika, Victoria, 2023. "Firms’ sustainability, financial performance, and regulatory dynamics: Evidence from European firms," Journal of International Money and Finance, Elsevier, vol. 131(C).
    45. Pedersen, Lasse Heje & Fitzgibbons, Shaun & Pomorski, Lukasz, 2021. "Responsible investing: The ESG-efficient frontier," Journal of Financial Economics, Elsevier, vol. 142(2), pages 572-597.
    46. Ferrell, A. & Liang, Hao & Renneboog, Luc, 2016. "Socially responsible firms," Other publications TiSEM 07e115ac-fdcb-4c4b-a0b8-a, Tilburg University, School of Economics and Management.
    47. Tamas Barko & Martijn Cremers & Luc Renneboog, 2022. "Shareholder Engagement on Environmental, Social, and Governance Performance," Journal of Business Ethics, Springer, vol. 180(2), pages 777-812, October.
    48. Jenna J. Burke, 2022. "Do Boards Take Environmental, Social, and Governance Issues Seriously? Evidence from Media Coverage and CEO Dismissals," Journal of Business Ethics, Springer, vol. 176(4), pages 647-671, April.
    49. De Haas, Ralph & Popov, Alexander, 2019. "Finance and carbon emissions," Working Paper Series 2318, European Central Bank.
    50. Wu, Zhenshu, 2023. "Essays in corporate finance and ESG," Other publications TiSEM fe6f9604-d0c5-46f3-9492-f, Tilburg University, School of Economics and Management.
    51. Ormazabal, Gaizka, 2018. "The Role of Stakeholders in Corporate Governance: A View from Accounting Research," CEPR Discussion Papers 12775, C.E.P.R. Discussion Papers.
    52. Liu, Xianda & Hou, Wenxuan & Main, Brian G.M., 2022. "Anti-market sentiment and corporate social responsibility: Evidence from anti-Jewish pogroms," Journal of Corporate Finance, Elsevier, vol. 76(C).
    53. Li, Yan & Wang, Junkai & Mu, Zi & Li, Lingxiao, 2023. "The impact of corporate environmental responsibility on green technological innovation: A nonlinear model including mediate effects and moderate effects," Economic Analysis and Policy, Elsevier, vol. 80(C), pages 754-769.
    54. Jie Chen & Xicheng Liu & Wei Song, 2018. "CEO general managerial skills and corporate social responsibility," Working Papers 2018-16, Swansea University, School of Management.
    55. Gunther Capelle-Blancard & Aurélien Petit, 2019. "Every Little Helps? ESG News and Stock Market Reaction," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-02342872, HAL.
    56. Fu, Xudong & Tang, Tian & Yan, Xinyan, 2019. "Why do institutions like corporate social responsibility investments? evidence from horizon heterogeneity," Journal of Empirical Finance, Elsevier, vol. 51(C), pages 44-63.
    57. Kyriaki Kosmidou & Dimitrios Kousenidis & Anestis Ladas & Christos Negkakis, 2024. "Climate‐related performance and stock price crash risk," Financial Markets, Institutions & Instruments, John Wiley & Sons, vol. 33(2), pages 113-148, May.
    58. Li, Tao & Wang, Yan & Li, Haomin, 2023. "Corporate social responsibility and insider trading profitability: Evidence from an emerging market," Pacific-Basin Finance Journal, Elsevier, vol. 77(C).
    59. Hasan, Iftekhar & Noth, Felix & Tonzer, Lena, 2023. "Cultural norms and corporate fraud: Evidence from the Volkswagen scandal," Journal of Corporate Finance, Elsevier, vol. 82(C).
    60. Fafaliou, Irene & Giaka, Maria & Konstantios, Dimitrios & Polemis, Michael, 2020. "Firms’ Sustainability Performance and Market Longevity," MPRA Paper 101445, University Library of Munich, Germany.
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    See citations under working paper version above.
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