Using global evidence, we show that high-emission firms have lower price valuation ratios
than low-emission firms in the same country, especially in recent years. The price gap …

We construct a market-based, forward-looking measure—the price valuation gap between
high-and low-emission firms—to capture the multifaceted effects of climate change on …

We use staggered enactments of state stakeholder constituency laws as a natural
experiment to examine the effect of such laws on corporate pension risk shifting. Our …

This study explores the influence of US Environmental Protection Agency (EPA)
enforcement on corporate green innovation, as measured by green patent counts and …

I examine changes in chief executive officer (CEO) labor market outcomes following
corporate environmental failures. CEOs of firms subject to Environmental Protection Agency …

We investigate the extent to which investors exhibit carbon home bias: disproportionate
investment in carbon-intensive firms from the home market. We utilize a comprehensive …

The transition to a sustainable economy currently involves a fundamental transformation of
markets and market actors. This paper makes the case for investor empowerment as the …

This paper examines the impact of air quality index (AQI) on stock returns. Using data from
listed Korean firms for the 2015–2021 period, we show that the dispersion in AQI adversely …

Over recent years there has been an increasing awareness of the costs to the environment
of corporate actions. We posit that accounting comparability between a firm and its peers …

Our study examines how constituency statutes influence corporate tax avoidance. These
state-level laws allow corporate boards to consider the interests of all stakeholders, not just …