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Sustainable investing in equilibrium

Bibliographic Data

ID23316014
AuthorsĽuboš Pástor (0000-0002-7946-8057, University of Chicago), Robert F Stambaugh (University of Pennsylvania), Lucian A Taylor (University of Pennsylvania, corresponding author)
Year2021
Volume142
Issue2
Pages550-571
Publication date2021-11-01
Peer ReviewedYes
Open AccessYes
TypeARTICLE
VenueJournal of Financial Economics (JOURNAL)
Journal identifiersISSN: 0304-405X • E-ISSN: 1879-2774
PublisherElsevier BV (PUBLISHER)
DOI10.1016/j.jfineco.2020.12.011
OpenAlexW2996233037
LanguageEN
Citations received53
References cited33

Business · Climate change · Climate risk · Corporate governance · Economics · Excess return · Financial economics · Hedge · Investment (military) · Investment strategy · Market liquidity · Monetary economics · Portfolio · Socially responsible investing · Climate Change Policy and Economics · Corporate Social Responsibility Reporting · Finance · Financial Markets and Investment Strategies

  • Mandatory CSR and sustainability reporting

    Open Access•Hans Bonde Christensen, Luzi Hail et al.•Review of Accounting Studies•2021

  • Sustainable investing with ESG rating uncertainty

    Open Access•Doron Avramov, Si Cheng et al.•Journal of Financial Economics•2022

  • Stranded assets from climate change and its response strategies

    Open Access•Jiasha Fu, Yuanhang Zhou et al.•Environmental Research Letters•2025

  • ESG and green transition of enterprises

    Open Access•Xubing Fang, Maotao Liu•Technological and Economic…•2026

  • Nudging ESG Investments via Digital Financial Advising

    Open Access•Caterina Lucarelli, Manuele Citi et al.•Business Strategy and the…•2026

  • Corporate Environmental Responsibility and Cost of Equity Capital

    Open Access•Robert Witte, Ewald Aschauer et al.•Business Strategy and the…•2026

  • International Evidence on How Investors Value Environmental Innovation

    Open Access•Ellen Pei‐yi Yu, Bac Van Luu et al.•Business Strategy and the…•2026

  • Stock Market Reactions to Climate Risk Events

    Open Access•Mario Schuster, Rainer Lueg•Business Strategy and the…•2026

  • Does Mixed‐Frequency Data Efficiently Predict Future ESG Ratings? A RMIDAS‐Based Machine Learning Approach

    Open Access•Yali Zhang, Xinpeng Ding et al.•Business Strategy and the…•2026

  • Visuals Speak Louder Than Words

    Open Access•Tingting Wang, Qiyong Xiao et al.•Business Strategy and the…•2026

  • ESG and customer stability

    Open Access•Hong Xu, Yukun Li et al.•Humanities and Social Sciences…•2024

  • Price subsidies and firm resilience

    Open Access•Wang Hu, Hu Wang et al.•Humanities and Social Sciences…•2025

  • Does climate policy uncertainty affect carbon emissions in China? A novel dynamic ARDL simulation perspective

    Open Access•Lihui Tian, Xin Li•Humanities and Social Sciences…•2023

  • Crypto-asset ownership and sustainable investment

    Open Access•Yosuke Kakinuma•Social Sciences & Humanities Open•2026

  • Challenges and prospects for sustainable investment - A systematic literature review

    Open Access•Jorge Alberto Vargas-Merino, Cristian Armando Rios-Lama•Social Sciences & Humanities Open•2026

  • Integration of ESG principles in business law

    Open Access•Muhamad Rizal, R Anang Muftiadi et al.•Social Sciences & Humanities Open•2026

  • Palm oil industry and investment development in Dumai City, Indonesia

    Open Access•Nina Yuslaini, Utang Suwaryo et al.•Cogent Social Sciences•2023

  • What do economists think about the green transition? Exploring the impact of environmental consciousness

    Open Access•Simona Malovaná, Dominika Ehrenbergerová et al.•Environment and Development…•2026

  • Air pollution levels enhance green bond investment

    Xubiao He, Zixian Xu et al.•Journal of Environmental Planning…•2025

  • When new leaders break the silence

    Open Access•Chao Liu, C Y Liu et al.•Journal of Environmental Planning…•2026

  • A Green Wave in Media

    Open Access•Marie Bessec, Julien Fouquau•Oxford Bulletin of Economics and…•2024

  • Tinkering Toward the Good––Sustainable Investing Between Utopian Imaginaries and Actualizations

    Open Access•Sara Dahlman•Journal of Business Ethics•2023

  • On the resilience of ESG firms during the Covid-19 crisis

    Open Access•Gianfranco Gianfrate, Mirco Rubin et al.•Journal of International Business…•2024

  • Climate transition risk and industry returns

    Open Access•Qi Zhou, Jinren Ni et al.•Technological Forecasting and…•2025

  • From climate risk to the returns and volatility of energy assets and green bonds

    Open Access•Elie Bouri, Lavinia Rognone et al.•Technological Forecasting and…•2023

  • Investors in environmental ventures want good money—and a clean conscience

    Open Access•Robert Frederic Penz, Jacob Hörisch et al.•Technological Forecasting and…•2022

  • How do climate risk and clean energy spillovers, and uncertainty affect U.S. stock markets

    Open Access•Rabeh Khalfaoui, Salma Mefteh-Wali et al.•Technological Forecasting and…•2022

  • The differential effects of esg performance on cost of capital

    Open Access•Houda Arouri, Zouhair Mrabet et al.•Sustainable Futures•2026

  • Morocco's green shield

    Open Access•Karim Belcaid•Sustainable Futures•2024

  • The effectiveness of science-based targets under the spotlight

    Open Access•Rubén Porcuna, Rubén Porcuna-Enguix et al.•Sustainable Futures•2026

  • ESG Investing Issues in Food Industry Enterprises

    Open Access•Gunta Grīnberga-Zālīte, Andra Zvirbule•Social Sciences•2022

  • Environmental, social, and governance factor and financial returns

    Open Access•Karoline Bax, Eleonora Broccardo et al.•Current Opinion in Environmental…•2024

  • Do Environmental Regulatory Interventions Help Highly Polluting Firms Become Sustainable? Evidence From Quasi‐Natural Experiment‐Based Indian Manufacturing Firms

    Open Access•Anu Antony•Journal of Public Affairs•2025

  • The impact of environmental sustainability on willingness to invest in startups

    Open Access•Lasse Voß, Henning Cordes et al.•Sustainable Development•2024

  • Can green credit policies improve corporate ESG performance

    Open Access•Linzhi Han, Yafang Shi et al.•Sustainable Development•2023

  • Sustainable investment – Exploring the linkage between alpha, ESG , and SDGs

    Open Access•Geert Bekaert, Richard Rothenberg et al.•Sustainable Development•2023

  • The Impact of Sustainability Uncertainty on Financial Development

    Open Access•Hassan Alalmaee•Sustainable Development•2026

  • Impact of ESG performance on the cost of capital in the energy, utilities, and basic materials sectors

    Open Access•Sindre Wilberg, Vibeke Kjellevoll et al.•Utilities Policy•2025

  • The environmental and financial performance of green energy investments

    Open Access•Maria Céu Cortez, Nuno Andrade et al.•Ecological Economics•2022

  • Accelerating institutional funding of low-carbon investment

    Open Access•David F Donnelly, David Donnelly et al.•Ecological Economics•2023

  • The biodiversity premium

    Open Access•Guillaume Coqueret, Thomas Giroux et al.•Ecological Economics•2024

  • Noisy biodiversity

    Open Access•Xin Wei, Wei Xin et al.•Ecological Economics•2025

  • Green promises or greenwashing? Unveiling the impact of China's low-carbon city pilot policy

    Open Access•Mengjuan Ling, Xiaoting Wang et al.•Sustainable Futures•2025

  • The impact mechanism of ESG ratings on firm value

    Open Access•Meiling Du, Yanjun Chen et al.•Sustainable Futures•2025

  • Canadian Climate Transition Policy Risk and the Performance of Green versus Brown Stocks

    Hany Fahmy•Canadian Public Policy•2025

  • Carbon intensity disclosure and corporate credit spreads

    Open Access•Alexander Schoeffel, Lukas Mueller et al.•Journal of Industrial Ecology•2026

  • Corporate Climate Narratives for Transition‐Finance Governance

    Open Access•Xuewen Kuang, Yinyin Liu et al.•Sustainable Development•2026

  • Greening the future

    Open Access•Lijie Zhang, Yu Hao•Technology in Society•2026

  • Exit versus Voice

    Eleonora Broccardo, Oliver Hart et al.•Journal of Political Economy•2022

  • Does Sustainable Investment Knowledge Affect Investment Behavior? A Social Cognitive Theory Perspective

    Open Access•Qingyuan Cheng, Weilin Cao•SAGE Open•2025

  • Research on the impact and mechanism of ESG rating on enterprises’ green total factor productivity-based on staggered difference-in-differences model

    Open Access•Di Zhu, Chenzhi Zhu•Environment Development and…•2025

  • Hard to digest investments

    Open Access•Paweł Niszczota, Jakub Błaszczyński•Ecological Economics•2024

  • Investment Strategies and Corporate Behaviour with Socially Responsible Investors

    Open Access•Christian Gollier, Sébastien Pouget•Economica•2022

  • The price of sin

    Open Access•Harrison Hong, Marcin Kacperczyk•Journal of Financial Economics•2009

  • Corporate Governance and Equity Prices

    P Gompers, Paul A Gompers et al.•The Quarterly Journal of Economics•2003

  • The Importance of Climate Risks for Institutional Investors

    Open Access•Philipp Krueger, Zacharias Sautner et al.•Review of Financial Studies•2020

  • Common risk factors in the returns on stocks and bonds

    Open Access•Eugene F Fama, Kenneth R French•Journal of Financial Economics•1993

  • Does the stock market fully value intangibles? Employee satisfaction and equity prices

    Open Access•Alex Edmans•Journal of Financial Economics•2011

  • The Effect of Green Investment on Corporate Behavior

    Robert Heinkel, Alan Kraus et al.•Journal of Financial and…•2001

  • Environmental Externalities and Cost of Capital

    Open Access•Sudheer Chava•Management Science•2014

  • The effect of pro-environmental preferences on bond prices

    Open Access•Olivier Zerbib, Olivier David Zerbib•Journal of Banking & Finance•2019

  • Responsible investing

    Open Access•Leif Hemming Pedersen, Lasse Heje Pedersen et al.•Journal of Financial Economics•2021

  • Liquidity Risk and Expected Stock Returns

    Ľuboš Pástor, Robert F Stambaugh•Journal of Political Economy•2003

Unique citing works53
Citations per year10,6
Citation span2021 - 2026 (6)
Citation velocitycurrent
Highly citedNo
Citation typesNeutral: 53

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