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Long-term institutional investors and climate change news Beta

Author

Listed:
  • A. Hossain
  • A.-A. Abdullah-Al Masum
  • R. Benkraiem

    (Audencia Business School)

Abstract

We predict and confirm that long-term institutional investors (LTIOs) play an important role in mitigating the negative market perceptions of US stocks following mainstream print media coverage of climate change. We observe a stronger effect of LTIOs for companies that lack corporate social responsibility and have less diverse and more co-opted boards. Overall, these findings indicate that the US equity market views LTIOs as effective monitors who can help guide companies facing climate risks toward a more sustainable trajectory.

Suggested Citation

  • A. Hossain & A.-A. Abdullah-Al Masum & R. Benkraiem, 2024. "Long-term institutional investors and climate change news Beta," Post-Print hal-05133745, HAL.
    • Handle: RePEc:hal:journl:hal-05133745
    DOI: 10.1016/j.jcorpfin.2024.102693
    Note: View the original document on HAL open archive server: https://hal.science/hal-05133745v1
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