Business leaders, government officials, and academics are focusing considerable attention on the concept of corporate social responsibility (CSR), particularly in the realm of environmental protection. Beyond complete compliance with environmental regulations, do firms have additional moral or...

Corporate sustainability activities are often ad hoc; that is, the extent to which a company moves toward being more sustainable is based on organizational feasibility or economic acceptance rather than true sustainability criteria. This paper examines corporate climate and carbon policy through...

I study the impact of creditor control on pollution activity, focusing on the role of liquidation value. My setting exploits a law change that protects property purchasers from environmental cleanup liabilities. Using a triple-difference design and financial covenant violations to proxy for...

We review the burgeoning sustainable finance literature, emphasizing the value implications of ESG (environmental, social, and governance) and CSR (corporate social responsibility) practices. We use a discounted cash flow valuation framework to identify value drivers through which such practices...

As climate change looms larger, many look to sustainable investing that incorporates environmental, social, and governance (ESG) concerns as part of the way forward. To assess scope for ESG-conscious investing to achieve climate change goals, we explore the link between emissions growth and ESG...

I investigate how property purchasers' exposure to environmental liability affects the redeployability of industrial real estate and corporate behavior. My setting exploits a law change that protects property purchasers from cleanup liabilities. After the law change, the propensity to sell real...

In this essay, we connect the United Nations' Sustainable Development Goals (SDGs)-an extensive collection of society-level goals and targets aimed at addressing grand challenges and achieving global sustainability by 2030-to firm-level sustainability and Environmental, Social, and Governance...

Many tourism agglomerations are situated near natural resources, which implies a need to balance business growth with environmental preservation. Our analysis of the location decisions of 295 luxury beach hotels in Spain between 1960 and 2015 reveals two main findings. First, we confirm the...

This study asked ChatGPT to write a 1000-word essay explaining why the concept of ESG (Environmental, Social and Governance) is a bad idea. It refused to do so because of its ethical belief (yes, it has ethical beliefs) that ESG is a good idea, in spite of all the evidence to the contrary. After...

In times of global ecological crisis, the responsibility of large corporations in environmental degradation is increasingly pointed out. As a result, there has been a surge in private organizations' pledges to reduce their environmental impact in recent years. In this paper, we demonstrate that...