Annual Conference

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Sustainable and Green Finance

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May 2025

Do Investors Care about Carbon Offsets?

Yeow Hwee CHUA, Liuyang SHE
We examine how investors respond to firms’ carbon offset strategies in voluntary carbon markets. Following the retirement of carbon offsets, we find a positive market reaction, with a cumulative abnormal return of 1.1% over 15 trading days. This market response is driven by the quality of offsets ...
Keywords: Sustainable Finance, Carbon Offsets, Investor Preferences, Temperature Anomal
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Annual Conference

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Sustainable and Green Finance

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May 2025

Green Mortgages

Joao F. COCCO, Bernardo MENDES, S. Lakshmi NAARAAYANAN
Using data on the universe of mortgages on offer in the United Kingdom, we study the prevalence and features of green mortgages, used for the financing of energy-efficient properties. We uncover substantial heterogeneity in their financial benefits. Products with preferential rate provide discounts ...
Keywords: Real Estate, Household Finance, Financial Institutions, Energy Efficiency, Climate Change
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Annual Conference

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Sustainable and Green Finance

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May 2025

Coverage Neglect in Homeowners Insurance

J. Anthony COOKSON, Emily A. GALLAGHER , Philip MULDER
Most homeowners do not have enough insurance coverage to rebuild their house after a total loss. Using contract-level data from 24 homeowners insurance companies in Colorado, we show wide differences in average underinsurance across insurers that persist conditional on policyholder characteristics. ...
Keywords: Disaster Insurance, Disaster Recovery, Information Frictions and Limited Attention, Insurance Demand
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Annual Conference

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Household Finance

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May 2025

The Impact of Finfluencers on Retail Investment

Isaiah HULL, Yingjie QI
We examine the impact of financial influencers (“finfluencers”) on retail investment with detailed data from actual investment decisions in four Nordic countries. Using an instrument that randomly assigns influencers to followers, we find the following: (1) Investors tend to follow influencers w...
Keywords: Social network, retail trading, financial influencers
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Annual Conference

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Household Finance

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May 2025

The Distribution Side of Insurance Markets

Li AN, Wei HUANG, Dong LOU, Jiaxing TIAN, Yongxiang WANG
This paper provides causal evidence for the impact of sales channels on insurance product adoption. Specifically, we utilize policy-level data provided by one of the largest life insurers in China, where we observe granular information on policy features and investor characteristics. We then exploit...
Keywords: Insurance Market, Household Finance, Life Insurnace, Annuity
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