This paper analyzes the approaches adopted by institutional investors to manage climate risk in their portfolios and proposes policies to increase climate awareness in this large segment of the capital markets. Because of their size and their role as conduit of savers' climate concerns to the...

The literature that examines target prices issued by equity research analysts is vast, and the role of the analytical process and valuation model used to determine target prices has received growing attention by scholars. However, the specific evidence that indicates how professional analysts...

Executive ownership addresses agency problems by aligning the financial goals of management and shareholders. We explore whether executive ownership fosters a non-financial sustainability footprint as well. We find that executive ownership is negatively associated with US firms’ environmental...

With the growth of green bonds as an asset class, the certification of the climate footprint of projects financed via those bonds is becoming more sophisticated. We investigate the pricing of the bonds with the highest climate impact rating, namely the “dark-green” bonds. We find that on...

The literature that examines target prices issued by equity research analysts is vast, and the role of the analytical process and valuation model used to determine target prices has received growing attention by scholars. However, the specific evidence that indicates how professional analysts...

This paper studies the effects of having multiple large shareholders who share the control of firms, by analysing a unique dataset of Italian shareholders' agreements (voting trusts). We investigate the separation between ownership and control granted by such agreements, showing that, on...