This paper studies the impact of voluntary climate commitments by banks on their lending
activity. We use administrative data on the universe of bank lending from 19 European …

We study whether exit policies by financial institutions have financial and real consequences
on the firms they target, using bank coal exit policies as a laboratory. In contrast to theories …

We examine whether the level of environmental disclosure in financial reports equates with
less brown lending by banks. We use granular credit register data and detailed information …

Banks have voluntarily committed to align their lending portfolios with a net zero path toward
a decarbonized economy. In this review, we explore the economic channels for why portfolio …

In August 2019, the Business Roundtable, one of the most recognizable lobbyist groups of
the business community, issued the “Statement on the Purpose of a Corporation.” …

This paper examines the effects of targeted credit rationing by banks on firms likely to
generate negative externalities. We exploit an initiative of the US Department of Justice …

We use administrative credit registry data from Europe to study the impact of voluntary
lender net zero commitments. We have two sets of findings. First, we find no evidence of …

I present a theory of organizational higher purpose in which, in addition to profits, the firms'
owners and employees care about a purpose that guides decisions but transcends business …

We study whether exit policies by financial institutions have financial and real consequences
on the firms they target, using bank coal exit policies as a laboratory. In contrast to theories …

This paper investigates whether bank branch presence affects firm misconduct. Exploiting
ZIP code-level variations from staggered branch closures across the USA, I find that firms in …