investments to underperform the market. Between mid-2021 and late-2022, the average expected 10-year annualized return of ESG … ESG return expectations and their motives for ESG investing: 45% of survey respondents do not see any reason to invest in … motivated by return expectations. Third, there is a link between individuals' reported ESG investment motives and their actual …

risk-sharing. General equilibrium models and consumption data tend to find that the costs are small, typically less than … higher variability of stocks, and/or (b) the higher degree of risk aversion required to reconcile an international equity …

We establish that the risk-return tradeoff of cryptocurrencies (Bitcoin, Ripple, and Ethereum) is distinct from those …

global macroeconomic fundamental risk. The risk factor is the cross-country high-minus-low conditional skewness of the …

We find that money managers could reduce portfolio risk by incorporating Environmental, Social, and Governance (ESG …) criteria into their investment process. ESG-related issues can cause sudden regulatory changes and shifts in consumer tastes …, resulting in large asset price swings which leave investors limited time to react. By incorporating ESG criteria in their …

strategies yield low systemic-risk-adjusted returns. In particular, we show that carry trade returns are highly correlated with … the return of a VIX rolldown strategy --i.e., the strategy of shorting VIX futures and rolling down its term structure … compensation for systemic risk. We show that this result stems from the fact that the corresponding portfolio of exchange rate …

lowers required returns. Consistent with this hypothesis, we find that asset classes with embedded leverage offer low risk …