The DOI matches its Crossref record; 16 of the 16 references it cites were found in a registry or an index.
Investor Rewards to Climate Responsibility: Stock-Price Responses to the Opposite Shocks of the 2016 and 2020 U.S. Elections
Open accessAbstract
Donald Trump’s 2016 election and his nomination of climate skeptic Scott Pruitt to head the Environmental Protection Agency drastically downshifted expectations about U.S. policy toward climate change. Joseph Biden’s 2020 election shifted them dramatically upward. We study firms’ stock-price movements in reaction to these changes. As expected, the 2016 election boosted carbon-intensive firms. Surprisingly, firms with climate-responsible strategies also gained, especially those firms held by long-run investors. Such investors appear to have bet on a “boomerang” in climate policy. Harbingers of a boomerang appeared during Trump’s term. The 2020 election marked its arrival. (JEL G14, G38, G41)
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Cites
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Resiliency of Environmental and Social Stocks: An Analysis of the Exogenous COVID-19 Market Crash
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Hsu, P.-H., Li, K., & Tsou, C.-Y. (2020) · SSRN Electronic Journal · doi:10.2139/ssrn.3578215 · Cited by 665
HSU, P., LI, K., & TSOU, C. (2023) · The Journal of Finance · doi:10.1111/jofi.13217 · Cited by 658
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Ardia, D., Bluteau, K., Boudt, K., & Inghelbrecht, K. (2023) · Management Science · doi:10.1287/mnsc.2022.4636 · Cited by 639
Dissecting climate risks: Are they reflected in stock prices?
Faccini, R., Matin, R., & Skiadopoulos, G. (2023) · Journal of Banking & Finance · doi:10.1016/j.jbankfin.2023.106948 · Cited by 445
Investor rewards to environmental responsibility: Evidence from the COVID-19 crisis
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Metadata
- Authors
- Ramelli, S., Wagner, A. F., Zeckhauser, R. J., & Ziegler, A.
- Venue
- The Review of Corporate Finance Studies
- Publisher
- Oxford University Press (OUP)
- Published
- 2021-06-17
- Volume
- 10
- Issue
- 4
- Pages
- 748-787
- ISSN
- 2046-9128 (ISSN-L)
- 2046-9136
- OpenAlex
- W3174399333
- Cited by
- 159
- References
- 16
- FWCI
- 18.71
- Type
- journal article
- Language
- en
- Open access
- green
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