The real effects of sustainable & responsible investing?

Dieter Vanwalleghem
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Dieter Vanwalleghem: ESC [Rennes] - ESC Rennes School of Business

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Abstract: Sustainable and responsible investing (SRI) may have a mixed effect on firms' incentives to remove negative externalities. Whereas SRI screening incentivizes the removal of externalities, SRI trading can disincentivize it when traders disagree on the externality removal's cash flow effects.

Keywords: Sustainable and responsible investing; Externality; Asymmetric information; Open disagreement; Cost of capital (search for similar items in EconPapers)
Date: 2017-07
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Citations: View citations in EconPapers (6)

Published in Economics Letters, 2017, 156, pp.10-14. ⟨10.1016/j.econlet.2017.04.008⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-02005421

DOI: 10.1016/j.econlet.2017.04.008

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