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The effects of corporate and country sustainability characteristics on the cost of debt: An international investigation

Hoepner, Andreas; Oikonomou, Ioannis; Scholtens, Bert; … - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2014

We investigate the relationship between corporate and country sustainability on the cost of bank loans. We look into … operating in all major industries. Our principal findings reveal that country sustainability related to both social and … of one unit in country sustainability scores is associated with an average decrease in the costs of debt by 64 basis …

Persistent link: https://www.econbiz.de/10011095353

Are SRI funds conventional funds in disguise or do they live up to their name?

Nitsche, Christin; Schröder, Michael - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2015

In recent years, the socially responsible investing (SRI) industry has become an important segment of international capital markets by incorporating ESG (Environmental, Social and Governance) factors into investment selection and management processes. This study analyses whether SRI mutual funds...

Persistent link: https://www.econbiz.de/10011269124

What Determines the Inclusion in a Sustainability Stock Index? A Panel Data Analysis for European Companies

Ziegler, Andreas; Schröder, Michael - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2006

This paper examines the determinants of the inclusion of European companies in the Dow Jones Sustainability World Index … and the Dow Jones STOXX Sustainability Index. In doing so, the paper contributes to the micro-econometric literature … analyzing the determinants and economic effects of sustainability performance in three respects: First, it examines a broad …

Persistent link: https://www.econbiz.de/10005097693

Terms-of-trade and the funding of adaptation to climate change and variability: An empirical analysis

Schenker, Oliver; Stephan, Gunter - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2012

This paper analyses the interplay between international trade, regional adaptation and North-to-South transfers for funding adaptation within the framework of a dynamic computable gen-eral equilibrium model, where impacts of climate change depend on changes in precipitation and temperature. If...

Persistent link: https://www.econbiz.de/10010957678

International trade and the adaptation to climate change and variability

Stephan, Gunter; Schenker, Oliver - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2012

This paper has three messages mainly, which are observed in a simple model of climate change, international trade and regional adaptation. First, trade can be viewed as a kind of adaptation to climate change and variability, as trade can help to reduce direct impacts of global climate change on...

Persistent link: https://www.econbiz.de/10010957706

Beyond national economy-wide rebound effects: An applied general equilibrium analysis incorporating international spillover effects

Koesler, Simon; Swales, Kim; Turner, Karen - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2014

This paper proposes that the national focus of energy 'rebound' studies should be extended to an international context in the presence of supra-national agreements such as EU 20-20-20. The potential for energy efficiency improvements in one nation to impact energy use in others means that...

Persistent link: https://www.econbiz.de/10010957720

Good enough! Are socially responsible companies the more successful environmental innovators?

Reif, Christiane; Rexhäuser, Sascha - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2015

The link between Corporate Social Responsibility (CSR) activities and financial performance of firms has been intensively examined and debated in academics and politics, but the connection to innovation has so far lacked research attention. This paper investigates whether CSR is complementary to...

Persistent link: https://www.econbiz.de/10011212006

Macroeconomic Impacts of the Clean Development Mechanism: The Role of Investment Barriers and Regulations

Anger, Niels; Böhringer, Christoph; Moslener, Ulf - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2007

This paper quantifies the macroeconomic impacts of the Clean Development Mechanism (CDM) under the Kyoto Protocol based on a computable general equilibrium (CGE) model of international trade and energy use. Employing project-based CDM supply data we assess the relative importance of transaction...

Persistent link: https://www.econbiz.de/10005098082

Pollution externalities in a Schumpeterian growth model

Koesler, Simon - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2010

This paper extends a standard Schumpeterian growth model to include an environmental dimension. Thereby, it explicitly links the pollution intensity of economic activity to technological progress. In a second step, it investigates the effect of pollution on economic growth under the assumption...

Persistent link: https://www.econbiz.de/10008646451

Designing an emissions trading scheme for China: An up-to-date climate policy assessment

Hübler, Michael; Löschel, Andreas; Voigt, Sebastian - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2014

We assess recent Chinese climate policy proposals in a multi-region, multi-sector computable general equilibrium model with a Chinese carbon emissions trading scheme (ETS). When the emissions intensity per GDP in 2020 is required to be 45% lower than in 2005, the model simulations indicate that...

Persistent link: https://www.econbiz.de/10010985609