Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/249355 
Erscheinungsjahr: 
2020
Schriftenreihe/Nr.: 
JRC Working Papers in Economics and Finance No. 2020/03
Verlag: 
Publications Office of the European Union, Luxembourg
Zusammenfassung: 
The first Global Climate Strike on March 15, 2019 has represented a historical turn in climate activism. We investigate the cross-section of European stock price reactions to this event. Looking at a large sample of European firms, we find that the unanticipated success of this event caused a substantial stock price reaction on high-carbon intensity companies. These findings are likely driven by an update of investors' beliefs about the level of environmental social norms in the economy and the anticipation of future developments of climate regulation.
Schlagwörter: 
Climate risks
stock returns
event study
environmental preferences
sustainable finance
investor attention
JEL: 
Q01
G14
G40
G23
Persistent Identifier der Erstveröffentlichung: 
ISBN: 
978-92-76-19455-2
Creative-Commons-Lizenz: 
cc-by Logo
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe





Publikationen in EconStor sind urheberrechtlich geschützt.