Josef Zechner
Biographic Data
| ID | 5849100 |
|---|---|
| NAME | Josef Zechner |
| GIVEN NAMES | Josef |
| FAMILY NAME | Zechner |
| SIGNATURE | ZECHNER J |
| AFFILIATIONS | University of Vienna |
| ORCID | 0000-0002-3357-0208 |
| VERIFIED | Yes |
| TOTAL WORKS | 2 |
| TOTAL CITATIONS | 6 |
| WORKS AS AUTHOR | 2 |
| WORKS AS EDITOR | 0 |
| FIRST PUBLICATION YEAR | 1994 |
| LATEST PUBLICATION YEAR | 2001 |
| H-INDEX | 1 |
The Effect of Green Investment on Corporate Behavior
This paper explores the effect of exclusionary ethical investing on corporate behavior in a risk-averse, equilibrium setting. While arguments exist that ethical investing can influence a firm's cost of capital, and so affect investment, no equilibrium model has been presented to do so. We show that exclusionary ethical investing leads to polluting firms being held by fewer investors since green investors eschew polluting firms' stock. This lack o…
Large Shareholder Activism, Risk Sharing, and Financial Market Equilibrium
The authors develop a model in which a large investor has access to a costly monitoring technology affecting securities' expected payoffs. Allocations of shares are determined through trading among risk-averse investors. Despite the free-rider problem associated with monitoring, risk-sharing considerations lead to equilibria in which monitoring takes place. Under certain conditions, the equilibrium allocation is Pareto efficient and all agents ho…
Large Shareholder Activism, Risk Sharing, and Financial Market Equilibrium
The authors develop a model in which a large investor has access to a costly monitoring technology affecting securities' expected payoffs. Allocations of shares are determined through trading among risk-averse investors. Despite the free-rider problem associated with monitoring, risk-sharing considerations lead to equilibria in which monitoring takes place. Under certain conditions, the equilibrium allocation is Pareto efficient and all agents ho…
Large Shareholder Activism, Risk Sharing, and Financial Market Equilibrium
The authors develop a model in which a large investor has access to a costly monitoring technology affecting securities' expected payoffs. Allocations of shares are determined through trading among risk-averse investors. Despite the free-rider problem associated with monitoring, risk-sharing considerations lead to equilibria in which monitoring takes place. Under certain conditions, the equilibrium allocation is Pareto efficient and all agents ho…
The Effect of Green Investment on Corporate Behavior
This paper explores the effect of exclusionary ethical investing on corporate behavior in a risk-averse, equilibrium setting. While arguments exist that ethical investing can influence a firm's cost of capital, and so affect investment, no equilibrium model has been presented to do so. We show that exclusionary ethical investing leads to polluting firms being held by fewer investors since green investors eschew polluting firms' stock. This lack o…
Business (2 works) · Economics (2 works) · Financial system (2 works) · Monetary economics (2 works) · Banking stability, regulation, efficiency (1 work) · Corporate governance (1 work) · Corporate Social Responsibility Reporting (1 work) · Energy, Environment, Economic Growth (1 work) · Finance (1 work) · Finance (1 work)