On ESG investing: Heterogeneous preferences, information, and asset prices
We study how environmental, social and governance (ESG) investing reshapes information
aggregation by prices. We develop a rational expectations equilibrium model in which …
aggregation by prices. We develop a rational expectations equilibrium model in which …
Environmental, Social, and Governance Information Rating and Firm Uncertainty Perception, Evidence from China Listed Firms.
F Xu, X Zhu, M Li - Sustainability (2071-1050), 2024 - search.ebscohost.com
Measuring firm value from an environmental, social, and governance perspective is a core
concept of ESG (Environmental, Social, and Governance), which contributes to the …
concept of ESG (Environmental, Social, and Governance), which contributes to the …
ESG rating disagreement, volatility, and stock returns
Q Zeng, Y Xu, M Hao, M Gao - Finance Research Letters, 2025 - Elsevier
We present a rational expectation equilibrium model to explore how ESG rating
disagreement impacts stock returns. Our findings reveal that high disagreement in ESG …
disagreement impacts stock returns. Our findings reveal that high disagreement in ESG …
A Simple OLG Model for Impact Investing
S Duineveld, K Lessmann, C Hambel - Available at SSRN …, 2024 - papers.ssrn.com
This paper studies a deterministic general equilibrium overlapping generations model with
two different types of investors characterized by their preferences for environmentally …
two different types of investors characterized by their preferences for environmentally …
Conscious Trading of Unconsciousness
We model financial market under-and over-reaction when some traders unconsciously
neglect'new'risks (or opportunities) in risky asset payoffs. These unconscious traders …
neglect'new'risks (or opportunities) in risky asset payoffs. These unconscious traders …
Challenges and Prospects for Sustainable Investment-a Systematic Review with Unveiling Implications
JA Vargas-Merino, CA Rios-Lama - Available at SSRN 4809036 - papers.ssrn.com
Global interest in sustainable finance, heightened by COVID-19, drives research on
sustainable investment (SI). Challenges persist, including vague definitions and imprecise …
sustainable investment (SI). Challenges persist, including vague definitions and imprecise …
Green investing, information asymmetry, and capital structure
We investigate how optimal attention allocation of green-motivated investors changes
information asymmetry in financial markets and thus affects firms' financing costs. To guide …
information asymmetry in financial markets and thus affects firms' financing costs. To guide …