| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP15522 |
| DP15522 The Big Three and Corporate Carbon Emissions Around the World | |
| Gaizka Ormazabal; Jose Azar; Miguel Duro; Igor Kadach | |
| 发表日期 | 2020-12-06 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | This paper examines the role of the “Big Three” (i.e., BlackRock, Vanguard, and State Street Global Advisors) on the reduction of corporate carbon emissions around the world. Using novel data on engagements of the Big Three with individual firms, we find evidence that the Big Three focus their engagement effort on large firms with high CO2 emissions in which these investors hold a significant stake. Consistent with this engagement influence being effective, we observe a strong and robust negative association between Big Three ownership and subsequent carbon emissions among MSCI index constituents, a pattern that becomes stronger in the later years of the sample period as the three institutions publicly commit to tackle ESG issues. |
| 主题 | Financial Economics |
| 关键词 | Climate change Carbon emissions Esg Big three Shareholder activism Institutional ownership |
| URL | https://cepr.org/publications/dp15522 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/544524 |
| 推荐引用方式 GB/T 7714 | Gaizka Ormazabal,Jose Azar,Miguel Duro,et al. DP15522 The Big Three and Corporate Carbon Emissions Around the World. 2020. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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