We propose and implement a procedure to dynamically hedge climate change risk. To create our hedge target, we extract … hedge portfolios. We discipline the exercise by using third-party ESG scores of firms to model their climate risk exposures … managing climate risk …

-generating strategy typically lowers the fund's risk-adjusted excess return due to frictions such as price pressure. When the manager is … via both management and incentive fees, we show that (i) the high-powered incentive fees encourage excessive risk taking … sufficiently poor fund performances substantially curtail managerial risk-taking, provide strong incentives to de-leverage, and …

, their consequences, and how risk from fire might be mitigated. Here we bring together data on the changing risk and societal …

In this paper, we investigate whether U.S. bank holding companies (BHCs) with strong and independent risk management … functions have lower enterprise-wide risk. We hand-collect information on the organizational structure of the risk management … function at the 74 largest publicly-listed BHCs, and use this information to construct a Risk Management Index (RMI) that …

This paper studies empirically the links between international trade and labor income risk faced by workers in the … United States. We use longitudinal data on workers to estimate time-varying individual income risk at the industry level. We … then combine our estimates of persistent labor income risk with measures of exposure to international trade to analyze the …