Using a wide sample of international publicly traded firms, this paper studies the rapidly
increasing practice of incorporating Environmental, Social, and Governance (ESG) metrics …

We develop a continuous-time model in which an ESG investor hires a manager to run a
project and incentivizes the manager to fulfill ESG responsibilities. The manager's private …

Finance is a pillar industry of national governance. It also provides a solid guarantee for
achieving the official Double Carbon target. The question of how to forefront the role of …

Firms and jurisdictions worldwide are adopting ESG reporting in various forms. To better
understand potential implications of ESG reporting, we develop a model in which a firm …

" The Social Responsibility of Business Is to Increase Its Profits", così recitava il titolo di un
famoso saggio dell'economista e Premio Nobel Milton Friedman, pubblicato il 13 settembre …

Firms and jurisdictions are increasingly adopting ESG reporting, affecting empirical research
on its consequences. We develop a model to understand the nuanced effects of ESG …

This paper develops a model of ESG transition in a loan-guarantee framework. By
incorporating tax subsidies with loan guarantees, the financial stress due to the transition is …