Annual Conference

|

Sustainable and Green Finance

|

May 2024

Opening the Brown Box: Production Responses to Environmental Regulation

S. Lakshmi NAARAAYANAN, Rebecca DE SIMONE, Kunal SACHDEVA
We study production responses to emission capping regulation on manufacturing firms. We find that firms reduced their pollution as they transitioned from self-generated to externally sourced electricity, shifted toward producing less coal-intensive products, and increased their abatement expenditure...
Keywords: Abatement, Firm Production, Profitability, Environmental Regulation
  • View
  • Download
  • Bookmark
  •    |   

Annual Conference

|

Sustainable and Green Finance

|

May 2024

Do Employees Have Useful Information About Firms' ESG Practices

Hoa BRISCOE-TRAN
This paper investigates whether employees have useful information for assessing firms’ environmental, social, and governance (ESG) practices. I analyze 10.4 million anonymous employee reviews via a word-embedding model to construct an inside view of corporate ESG practices. The inside view offers ...
Keywords: ESG, CSR, greenwash, cheap talk, employees, word-embedding, Glassdoor.
  • View
  • Download
  • Bookmark
  •    |   

Annual Conference

|

Sustainable and Green Finance

|

May 2024

The Effect of Carbon Pricing on Firm Performance

Frank Weikai LI, Tinghua DUAN, Hong ZHANG
Carbon pricing is considered as one of the most cost-effective ways to reduce carbon emissions. However, a major block to pricing carbon pollution is the concern about the economic costs. This paper examines the impacts of carbon pricing initiatives on the operating performance and market value of p...
Keywords: Climate change, carbon pricing, carbon tax, emission trading systems, carbon premium, distributional effects
  • View
  • Download
  • Bookmark
  •    |   

Annual Conference

|

Sustainable and Green Finance

|

May 2024

Fighting Climate Change with FinTech

Antonio GARGANO, Alberto G. ROSSI
We study the environmental sustainability of individuals’ consumption choices using unique data from a FinTech App that tracks users’ spending and emissions at the transaction level. Using a randomized encouragement design, we show that individuals are likely to purchase carbon calculator servic...
Keywords: FinTech, Climate Change, Household Finance, Sustainable Behavior
  • View
  • Download
  • Bookmark
  •    |   

Annual Conference

|

Sustainable and Green Finance

|

May 2024

Feedback on Emerging Corporate Policies

Yabo ZHAO, Sean CAO
We explore the role of market feedback in navigating emerging corporate policies on AI/green technologies. By assembling and analyzing a comprehensive sample of corporate disclosures in which managers discuss their forward-looking investment plans on AI/green technologies, we find that firms adjust ...
Keywords: Emerging Technologies, Artificial Intelligence, Carbon Emissions, Green Investment, Feedback, Managerial Learning
  • View
  • Download
  • Bookmark
  •    |