Showing 1 - 10 of 2,268
We explore the association between CEO compensation and carbon risk using firm level emission data for US firms between … 2010 and 2018. Our results show that firm’s carbon risk is positively associated with CEO’s total compensation, implying …
Persistent link: https://www.econbiz.de/10013244780
greater with increases in a firm’s vulnerability to climate change news risk. The industry’s resistance to a timely low … news risk increase after 2013, strengthening firms’ inclination to lobby just when this activity becomes less valued by …
Persistent link: https://www.econbiz.de/10014235505
system in the low-carbon transition can lead to a large underestimation of climate transition risk. The set of scenarios that … financial supervisors recommended to investors to analyse climate transition risk include scenarios labelled as ‘disorderly … reshaped depending on the timing and the extent by which financial actors assess climate risk …
Persistent link: https://www.econbiz.de/10013245676
We investigate financial experts' beliefs about climate risk pricing and analyze how those beliefs influence stock … return expectations. In a comprehensive survey, we elicit experts' beliefs using both structured and open-ended questions. We …. Differences in experts' mental models explain variation in return expectations in the short-term (1-year) and long-term (10-year …
Persistent link: https://www.econbiz.de/10014578273
Climate change has been recently recognised as a new source of risk for the financial system. Several financial …) challenge traditional approaches to macroeconomic and financial risk analysis. Embedding climate change in macroeconomic and … supervisors about the integration of climate change considerations in financial risk assessment …
Persistent link: https://www.econbiz.de/10013247800
finance, many papers discuss the financial market efficiency toward climate change in order to better manage related risk. Our … work focuses on the topic of climate change risk in the stock market. We use the long-term trends of the newly released … climate index, Actuaries Climate Index (ACI), as proxies for climate change risk. As a genre of production risk, ACI trends …
Persistent link: https://www.econbiz.de/10012845783
-functional climate risk management tools in forecasting, catastrophe modeling, pricing and hedging is thus crucial. By using …
Persistent link: https://www.econbiz.de/10013095006
Insufficient Social Cost of Carbon (SCC) estimation methods and short-term decision-making horizons have hindered the ability of carbon emitters to properly correct for the negative externalities of climate change, as well as the capacity of nations to balance economic and climate policy. To...
Persistent link: https://www.econbiz.de/10013290203
low duration stocks underperform. Return differences are driven by emissions instead of duration. Overall, these patterns … premiums. Until 2008, risk-adjusted returns increase with emissions and decrease with duration. Thereafter, high emission and … carbon emissions, explains much of the recent underperformance of value stocks …
Persistent link: https://www.econbiz.de/10013295521
Investors’ awareness of climate risks and attention to green investments are on the rise especially after the Paris Agreement. It stands to reason that this rise in awareness has an impact on the connection between clean energy prices and oil and technology stock prices. In this paper, we test...
Persistent link: https://www.econbiz.de/10013300967