Traditional methods of calculating the value of Pi are approximate. This article demonstrates that there is an accurate method for calculating its value to 16 significant digits based on the performance of a computer program in Turbo C 2.0 including formulas resulting from the combination of...

We examine the effects of incorporating a potential tax on carbon emissions into a value investment strategy. We show that in a portfolio optimization problem, a carbon tax at the stock level is mathematically equivalent to a carbon constraint at the portfolio level. Using this insight we derive...

Environmental, social, and governance (ESG) objectives have risen to near the top of the agenda for corporate executives and boards, driven in large part by their perceptions of shareholder interest. We quantify the value that shareholders place on ESG using a revealed preference approach, where...