PRI Academic Week 2020: papers and presentations

Climate finance

Greenwashing

Authors: Hao Liang (Singapore Management University), Lin Sun (Fudan University) and Melvyn Teo (Singapore Management University)
Academic discussant: Henri Servaes (London Business School)
Practitioner discussant: Jason Mitchell, Co-Head of Responsible Investment (Man Group)

Corporate finance and firm pollution 

Authors: Chenyu Shan (Shanghai University of Finance and Economics) and Dragon Yongjun Tang (University of Hong Kong)
Academic discussant: Zacharias Sautner (Frankfurt School of Finance & Management)
Practitioner discussant: Carmen Nuzzo, Head of Fixed Income (PRI)

Environmental impact investing

Authors: Tiziano De Angelis (University of Leeds), Peter Tankov (CREST and ENSAE Paris) and Olivier David Zerbib (Tilburg University and University of Lyon)
Academic discussant: Martin Oehmke (London School of Economics)
Practitioner discussant: Edward Baker, Senior Specialist, Climate and Energy Transition (PRI)

Corporate governance

Renewable governance: good for the environment?

Authors: Alexander Dyck (University of Toronto), Karl V Lins (University of Utah), Lukas Roth (University of Alberta), Mitch Towner (University of Arizona) and Hannes F Wagner (Bocconi University)
Academic discussant: Ruth Aguilera (Northeastern University)
Practitioner discussant: Dave Chen, CEO (Equilibrium)

Enhancing profits and reducing losses by managing material environmental, social and governance (ESG) factors

Authors: James McGlinch (University of Pennsylvania) and Witold J Henisz (University of Pennsylvania)
Academic discussant: Aaron Yoon (Northwestern University)
Practitioner discussant: Lloyd Kurtz, Head of Social Impact Investing (Wells Fargo)

Equity market reaction to pay dispersion and shareholders’ prosocial preferences

Authors: Yihui Pan (University of Utah), Elena S Pikulina (University of British Columbia), Stephan Siegel (University of Washington) and Tracy Yue Wang (University of Minnesota)
Academic discussant: Alex Edmans (London Business School)
Practitioner discussant: Elena Espinoza, Interim Head of Social Issues (PRI)

COVID and grand challenges

Resiliency of environmental and social stocks: an analysis of the exogenous Covid-19 market crash

Authors: Rui Albuquerque (Boston College), Yrjo Koskinen (University of Calgary), Shuai Yang (University of Calgary) and Chendi Zhang (University of Exeter) (Presentation)
Academic discussant: Alexander Wagner (University of Zurich) (Presentation)
Practitioner discussant: Doug Grim, Senior Investment Strategist (The Vanguard Group)

The Role of ESG performance during times of financial Crisis Evidence from Covid-19 in China

Authors: David C Broadstock (Hong Kong Polytechnic University), Kalok Chan (Chinese University of Hong Kong), Louis TW Cheng (Hong Kong Polytechnic University) and Xiaowei Wang (Chinese University of Hong Kong)

What does not kill you, makes you stronger: Striving for deliberative governance at the United Nations supported Principles for Responsible Investment

Authors: Jean-Pascal Gond (City, University of London) and Szilvia Mosonyi (Queen Mary University of London)
Academic discussant: Diane-Laure Arjalies (Ivey Business School)
Practitioner discussant: Valeria Piani, Director, Sustainable and Impact Investing (UBS Asset Management)

Responsible investors

Responsible institutional investing around the world

Authors: Rajna Gibson Brandon (University of Geneva), Simon Glossner (University of Virginia), Philipp Krueger (University of Geneva), Pedro Matos (University of Virginia) and Tom Steffen (Osmosis Investment Management)
Academic discussant: Oğuzhan Karakaş (University of Cambridge) (Presentation)
Practitioner discussant: Jon Lukomnik, Managing Partner (Sinclair Capital)

The asymmetry in responsible investing preferences

Authors: Jacquelyn Humphrey (University of Queensland), Shimon Kogan (MIT Sloan & IDC Herzliya), Jacob Sagi (UNC Chapel Hill) and Laura Starks (UT Austin)
Academic discussant: Rob Bauer (Maastricht University)
Practitioner discussant: Lukasz Pomorski, Managing Director (AQR Capital Management)

The dynamics of imitation and interorganizational collective attention to the Sustainable Development Goals

Author: Kevin Chuah (London Business School)
Academic discussant: Brayden King (Northwestern University)
Practitioner discussant: Michael Viehs, Head of ESG Integration (Federated Hermes)

Shareholder engagement and environmental politics

Obstacles to sustainable energy transitions in the US states: insights from the Citizens United ruling

Author: Hanna Niczyporuk (New York University)
Academic discussant: Timothy Werner (University of Texas at Austin)
Practitioner discussant: Peter Fox-Penner, Director (Boston University’s Institute for Sustainable Energy (ISE) and Energy Impact Partners (EIP))

Environmental externalities of activism

Authors: Pat Akey (University of Toronto) and Ian Appel (Boston College)
Academic discussant: Elroy Dimson (University of Cambridge) (Presentation)
Practitioner discussant: Alexis Wegerich, Economist (Norges Bank Investment Management) (Presentation)

Does private equity ownership make firms cleaner? The role of environmental liability risks