Search Results - "Journal of financial economics"

How much should we trust staggered difference-in-differences estimates? by Baker, Andrew C., Larcker, David F., Wang, Charles C.Y.

“…We explain when and how staggered difference-in-differences regression estimators, commonly applied to assess the impact of policy changes, are biased. These…”
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Do investors care about carbon risk? by Bolton, Patrick, Kacperczyk, Marcin

“…We study whether carbon emissions affect the cross-section of US stock returns. We find that stocks of firms with higher total carbon dioxide emissions (and…”
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Corporate green bonds by Flammer, Caroline

“…I examine corporate green bonds, whose proceeds finance climate-friendly projects. These bonds have become more prevalent over time, especially in industries…”
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Corporate immunity to the COVID-19 pandemic by Ding, Wenzhi, Levine, Ross, Lin, Chen, Xie, Wensi

“…We evaluate the connection between corporate characteristics and the reaction of stock returns to COVID-19 cases using data on more than 6,700 firms across 61…”
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Responsible investing: The ESG-efficient frontier by Pedersen, Lasse Heje, Fitzgibbons, Shaun, Pomorski, Lukasz

“…We propose a theory in which each stock's environmental, social, and governance (ESG) score plays two roles: (1) providing information about firm fundamentals…”
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Sustainable investing in equilibrium by Pástor, Ľuboš, Stambaugh, Robert F., Taylor, Lucian A.

“…We model investing that considers environmental, social, and governance (ESG) criteria. In equilibrium, green assets have low expected returns because…”
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Sustainable investing with ESG rating uncertainty by Avramov, Doron, Cheng, Si, Lioui, Abraham, Tarelli, Andrea

“…This paper analyzes the asset pricing and portfolio implications of an important barrier to sustainable investing: uncertainty about the corporate ESG profile…”
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Do institutional investors drive corporate social responsibility? International evidence by Dyck, Alexander, Lins, Karl V., Roth, Lukas, Wagner, Hannes F.

“…This paper assesses whether shareholders drive the environmental and social (E&S) performance of firms worldwide. Across 41 countries, institutional ownership…”
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Fintech, regulatory arbitrage, and the rise of shadow banks by Buchak, Greg, Matvos, Gregor, Piskorski, Tomasz, Seru, Amit

“…Shadow bank market share in residential mortgage origination nearly doubled from 2007 to 2015, with particularly dramatic growth among online “fintech”…”
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Trading and arbitrage in cryptocurrency markets by Makarov, Igor, Schoar, Antoinette

“…Cryptocurrency markets exhibit periods of large, recurrent arbitrage opportunities across exchanges. These price deviations are much larger across than within…”
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From mining to markets: The evolution of bitcoin transaction fees by Easley, David, O'Hara, Maureen, Basu, Soumya

“…We investigate the role that transaction fees play in the bitcoin blockchain's evolution from a mining-based structure to a market-based ecology. We develop a…”
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Dissecting green returns by Pástor, Ľuboš, Stambaugh, Robert F., Taylor, Lucian A.

“…Green assets delivered high returns in recent years. This performance reflects unexpectedly strong increases in environmental concerns, not high expected…”
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Machine learning in the Chinese stock market by Leippold, Markus, Wang, Qian, Zhou, Wenyu

“…We add to the emerging literature on empirical asset pricing in the Chinese stock market by building and analyzing a comprehensive set of return prediction…”
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Institutional shareholders and corporate social responsibility by Chen, Tao, Dong, Hui, Lin, Chen

“…This study uses two distinct quasi-natural experiments to examine the effect of institutional shareholders on corporate social responsibility (CSR). We first…”
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Size and value in China by Liu, Jianan, Stambaugh, Robert F., Yuan, Yu

“…We construct size and value factors in China. The size factor excludes the smallest 30% of firms, which are companies valued significantly as potential shells…”
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Does policy uncertainty affect mergers and acquisitions? by Bonaime, Alice, Gulen, Huseyin, Ion, Mihai

“…Political and regulatory uncertainty is strongly negatively associated with merger and acquisition activity at the macro and firm levels. The strongest effects…”
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Financial education affects financial knowledge and downstream behaviors by Kaiser, Tim, Lusardi, Annamaria, Menkhoff, Lukas, Urban, Carly

“…We study the rapidly growing literature on the causal effects of financial education programs in a meta-analysis of 76 randomized experiments with a total…”
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Shrinking the cross-section by Kozak, Serhiy, Nagel, Stefan, Santosh, Shrihari

“…We construct a robust stochastic discount factor (SDF) summarizing the joint explanatory power of a large number of cross-sectional stock return predictors…”
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Socially responsible corporate customers by Dai, Rui, Liang, Hao, Ng, Lilian

“…Corporate customers are an important stakeholder in global supply chains. We employ several unique international databases to test whether socially responsible…”
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Socially responsible firms by Ferrell, Allen, Liang, Hao, Renneboog, Luc

“…In the corporate finance tradition, starting with Berle and Means (1932), corporations should generally be run to maximize shareholder value. The agency view…”
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