A5084372515- Experimental Behavioral Economics Studies
- Complex Systems and Decision Making
- Corporate Social Responsibility Reporting
- Environmental Education and Sustainability
- Environmental Sustainability in Business
- Sustainable Finance and Green Bonds
- Economic and Environmental Valuation
- Opinion Dynamics and Social Influence
- Community Development and Social Impact
- Corporate Finance and Governance
- Water Treatment and Disinfection
- Pharmaceutical and Antibiotic Environmental Impacts
- State Capitalism and Financial Governance
- Corporate Social Responsibility and Sustainability
- Decision-Making and Behavioral Economics
- Microfinance and Financial Inclusion
- Wastewater Treatment and Reuse
- Financial Markets and Investment Strategies
- Banking stability, regulation, efficiency
- Climate Change Communication and Perception
Massachusetts Institute of Technology
2018-2024
University of Zurich
2020-2022
Institute of Finance and Banking
2021-2022
Swiss Federal Institute of Aquatic Science and Technology
2012
This article asks how sustainable investing contributes to societal goals, conducting a literature review on investor impact—that is, the change investors trigger in companies’ environmental and social impact. We distinguish three impact mechanisms: shareholder engagement, capital allocation, indirect impacts, concluding that of engagement is well supported literature, allocation only partially, impacts lack empirical support. Our results suggest who seek should pursue throughout their...
Abstract We assess how investors’ willingness-to-pay (WTP) for sustainable investments responds to the social impact of those investments, using a framed field experiment. While investors have substantial WTP they do not pay significantly more impact. This also holds dedicated investors. When compare several their relative, but absolute, levels Regardless investments’ impact, experience positive emotions when choosing investments. Our findings suggest that is primarily driven by an...
The Haihe River System (HRS) drains the Chinese megacities Beijing and Tianjin, forming a large-scale irrigation system severely impacted by wastewater-borne pollution. origin, temporal magnitudes, annual mass fluxes of wide range pharmaceuticals, household chemicals, pesticides were investigated in HRS, which 70% wastewater discharged 20 million people living Beijing. Based on consumption statistics our initial screening for 268 micropollutants using high-resolution spectrometry, 62...
This study examines the impact of ESG ratings on mutual fund holdings, stock returns, corporate investment, and practices, using panel event studies. Looking specifically at changes in MSCI rating, we document that rating downgrades reduce ownership by funds with a dedicated strategy, while upgrades increase it. We find negative long-term response returns to slower weaker positive upgrades. Regarding firm responses, no significant effect up- or capital expenditure. firms adjust their...
We assess how investors' willingness-to-pay (WTP) for sustainable investments responds to the impact of those investments, using a framed field experiment. While investors have substantial WTP they do not pay more impact. This also holds dedicated investors. When compare several their differences in but absolute level Investors experience positive emotions when choosing irrespective investments' Our findings suggest that is driven by an emotional rather than calculative valuation
A first-order concern regarding sustainable finance is that it may crowd out individual support for more effective, policy-driven approaches to address societal challenges. We test the validity of this in a pre-registered experiment context real referendum on climate law with representative sample Swiss population (N=2,051). find opportunity invest climate-conscious fund does not erode individuals' regulation. While resembles placebo sense participants seem overestimate its impact, dangerous...
We report results from a pre-registered field experiment about the impact of index provider engagement on corporate climate policy. A randomly chosen group 300 out 1227 international companies received letter an provider, encouraging company to commit setting science-based target remain included in its transition benchmark indices. After one year, we observed significant effect: 21.0% treated have committed, vs. 15.7% control group. This suggests that by financial institutions can affect...
This article asks how sustainable investing (SI) contributes to societal goals, conducting a literature review on investor impact—that is, the change investors trigger in companies' environmental and social impact. We distinguish three impact mechanisms: shareholder engagement, capital allocation, indirect impacts, concluding that of engagement is well supported literature, allocation only partially, impacts lack empirical support. Our results suggest who seek should pursue throughout their...