Responsible Capitalism

Working Paper

Revealed Beliefs about Responsible Investing: Evidence from Mutual Fund Managers

What do asset managers believe regarding the financial performance of Environmental, Social, and Governance (ESG) investment strategies? We address...

Vitaly Orlov

Stefano Ramelli

Alexander Wagner

15 February 2023

ESG

Do Consumers Care About ESG? Evidence from Barcode-Level Sales Data

Using granular barcode-level sales data from retail stores, we show that environmental and social (E&S) ratings are positively related to local...

Henri Servaes

Jiaying Wei

Steven Chong Xiao

26 July 2023

Diversity

Specialist Directors

What determines the effectiveness of corporate boards? Corporate legal scholars usually approach this question by focusing on directors’...

Roy Shapira

Yaron Nili

03 December 2023

ESG

Does Paying Passive Managers to Engage Improve ESG Performance?

The paper studies a natural experiment in responsible investment conducted by the Japanese Government Pension Investment Fund (GPIF). In 2018 GPIF...

Marco Becht

Julian Franks

Kazunori (Icko) Suzuki

11 July 2023

Climate Change

Saving Climate Disclosure

Designing a regulatory response to climate change is one of the defining challenges of our era. In an attempt to address it, the Securities and Exchange...

Scott Hirst

01 February 2023

Responsible Capitalism

Biodiversity Finance

The use of private capital to finance biodiversity conservation and restoration is a new practice in sustainable finance. This study sheds light on this...

Caroline Flammer

Thomas Giroux

Geoffrey M. Heal

13 March 2023