We study how mandatory climate-related disclosure affects bank lending using the phased introduction of the EU Taxonomy Regulation. Exploiting the staggered development and implementation of the regulation, we…
We study the equity market implications of a reform in the fiduciary laws that govern trust investments (prudent man laws), implemented in a staggered fashion across U.S. states from 1985 to 2006. As trusts…
This paper examines the causal impact of ESG ratings and their divergence on retail investors’ sustainable investment decisions. Using a survey with a framed choice experiment conducted with 2,025 German retail…
How do retirees choose among home equity release products? Despite housing wealth being households’ largest asset, little is known about preferences for different equity release products. We conduct a survey…
Women are significantly less likely to participate in the stock market than men. We show that financial socialization plays an important role in explaining this gap. Survey data from Germany and the U.S.…
