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This paper analyses Kantian cooperation of sustainability investments in a two-stage game. Firms’ behavior, Kantian … cooperation versus competition, is independent at each stage. Our findings indicate that Kantian cooperation in sustainability … investment results in lower sustainability levels, while Kantian cooperation in production leads to higher sustainability levels …
Persistent link: https://www.econbiz.de/10014354745
The green bond market has grown rapidly since its inception in 2007. Climate-aligned standards provide investors with the confidence that their investments deliver a measurable climate benefit. Serving as a benchmark, these standards demonstrate alignment with the Paris Agreement, against which...
Persistent link: https://www.econbiz.de/10012824116
This paper analyzes the asset pricing and portfolio implications of an important barrier to sustainable investing---uncertainty about the corporate ESG profile. In equilibrium, the market premium increases and demand for stocks declines under ESG uncertainty. In addition, the CAPM alpha and...
Persistent link: https://www.econbiz.de/10013247943
The literature on the relationship between ESG disclosure and economic growth is relatively non-existent. Thus, this paper highlights the importance of taking this relationship into account in current sustainable policies. The main objective of extra-financial Disclosure is to mitigate...
Persistent link: https://www.econbiz.de/10013474500
This paper formulates new theories of sustainable finance. The need for new theories of sustainable finance arises from the need to establish a set of propositions that can help us understand the behaviour and actions of economic agents towards sustainable finance. Six theories of sustainable...
Persistent link: https://www.econbiz.de/10013292692
This paper develops a theoretical framework to assess the feasibility of global environmental sustainability solutions … based on one or more value changes. The framework represents four sustainability paradigms (weak sustainability WS, a …-growth AG, de-growth DG, strong sustainability SS) and five value changes (i.e., a sense of responsibility for nature Beta …
Persistent link: https://www.econbiz.de/10011674437
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Agencies around the world are in the process of developing taxonomies and standards for sustainable (or ESG) investment products. A key assumption in our model is that of non-consequentialist private investors (households) who derive a "warm glow" decisional utility when purchasing an investment...
Persistent link: https://www.econbiz.de/10013165279
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