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Cited by 976

The DOI matches its Crossref record; 9 of the 9 references it cites were found in a registry or an index.

Global Pricing of Carbon‐Transition Risk

Open access
BOLTON, PATRICK, KACPERCZYK, MARCIN·2023·The Journal of Finance
DOI 10.1111/jofi.13272
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Abstract

The energy transition away from fossil fuels exposes companies to carbon‐transition risk. Estimating the market‐based premium associated with carbon‐transition risk in a cross section of 14,400 firms in 77 countries, we find higher stock returns associated with higher levels and growth rates of carbon emissions in all sectors and most countries. Carbon premia related to emissions growth are greater for firms located in countries with lower economic development, larger energy sectors, and less inclusive political systems. Premia related to emission levels are higher in countries with stricter domestic climate policies. The latter have increased with investor awareness about climate change risk.

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Registry

Crossref · 10.1111/jofi.13272

Cites

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Metadata

Authors
BOLTON, P., & KACPERCZYK, M.
Venue
The Journal of Finance
Publisher
Wiley
Published
2023-08-26
Volume
78
Issue
6
Pages
3677-3754
ISSN
  • 0022-1082 (ISSN-L)
  • 1540-6261
DOI
10.1111/jofi.13272
OpenAlex
W4385782790
Cited by
976
References
9
FWCI
193.32
Type
journal article
Language
en
Open access
hybrid

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CoChat. (2026). Citation check: Global Pricing of Carbon‐Transition Risk. https://app.cochat.ai/papers/10.1111/jofi.13272
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BOLTON, P., & KACPERCZYK, M. (2023). Global Pricing of Carbon‐Transition Risk. The Journal of Finance. https://doi.org/10.1111/jofi.13272

Data sources

Bibliographic data: Semantic Scholar, OpenAlex, Crossref.

Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).

Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.