The relative equity pricing of more climate-friendly (“green”) versus less climate-friendly
(“brown”) companies is an open question in climate finance. Previous research comes to …

We introduce investors with preferences for green assets to a general equilibrium setting in
which they also prefer consuming green goods. Their preference for green goods induces …

In this paper, we study whether a firm's carbon risk exposure plays a role in the relationship
between dividend announcements and stock returns. Our results show that when investors …

Policymakers and researchers worry that the low-carbon transition may be inadvertently
delayed by higher global interest rates. To examine whether green investment is especially …

We use a large cross section of euro area and Unites States equity returns since 2014 to
examine whether monetary policy and information shocks in the two economic areas had …

Prior studies focus on how investors' sustainability preferences incentivize firms to reallocate
resources from dirty to clean physical capital. However, the impact of investors' preferences …

Can environmentally-minded investors impact the cost of capital of green firms even when
they invest through financial intermediaries? To answer this and related questions, I build an …

We analyze the information content of a variance risk premia extracted from the weather
derivatives contracts written on the local temperature of individual US cities. We term this the …

I use text analysis of US firms' press releases to build monthly measures of their exposure to
environmental policies and to green technologies. I estimate the associated regulatory risk …

Face ao crescimento exponencial da economia chinesa nos últimos anos, acompanhado do
aumento da poluição e do impacto ambiental, a avaliação do desempenho financeiro de …