Working Paper

13 April 2021

The EU Sustainable Governance Consultation and the Missing Link to Soft Law

In this paper, we investigate whether reform of EU company law is needed to make corporate governance more sustainable through an analysis of some of the key questions found in the European Commission’s questionnaire in its public...

Guido Ferrarini | Michele Siri | Shanshan Zhu
25 November 2020

Do Responsible Investors Invest Responsibly?

We explore a novel survey on responsible investing by institutional investors around the world and match it to archival data on their equity portfolio holdings. We document that institutions that publicly commit to responsible...

Rajna Gibson Brandon | Simon Glossner | Philipp Krueger | Pedro Matos | Tom Steffen


Low-carbon Mutual Funds

Climate change is one of the key economic challenges of our time. Economists and public policy scholars increasingly agree on the merits of carbon...Read more

Marco Ceccarelli
Stefano Ramelli
Alexander Wagner
10 April 2020

ESG Rating Disagreement and Stock Returns

A variety of professional data vendors nowadays provide firm-level Environmental, Social, and Governance (ESG) ratings (or scores). These ratings...Read more

Rajna Gibson Brandon
Philipp Krueger
Nadine Riand
Peter Steffen Schmidt
02 March 2020