IDEAS home Printed from https://ideas.repec.org/p/hal/journl/hal-05521428.html

Climate Change and Mutual Fund Voting on Climate Proposals

Author

Listed:
  • A. Alberta Di Giuli
  • A. Garel

    (Audencia Business School)

  • R. Roni Michaely
  • A. Arthur Romec

Abstract

This paper explores whether investors' personal experience with climate change affects their voting behavior on climate change–related proposals. We find that fund managers exposed to abnormally hot temperatures are significantly more likely to support climate proposals. We further show that the effect is persistent. We observe significant heterogeneity in the effect of hot temperatures, depending on firm-level climate risk, the quality of the proposals, fund investment strategy, and prior awareness of climate change. Fund managers' personal experience with climate change matters for the outcome of climate proposals as it affects the aggregate support they receive. Fund managers exposed to abnormally hot temperatures are also more likely to divest from stocks with greater exposure to climate change. This paper was accepted by Camelia Kuhnen, finance. Funding: R. Michaely acknowledges financial support from the National Nature Science Foundation of China [Project 72332002]. Supplemental Material: The data files are available at https://doi.org/10.1287/mnsc.2022.03733 .

Suggested Citation

  • A. Alberta Di Giuli & A. Garel & R. Roni Michaely & A. Arthur Romec, 2026. "Climate Change and Mutual Fund Voting on Climate Proposals," Post-Print hal-05521428, HAL.
    • Handle: RePEc:hal:journl:hal-05521428
    DOI: 10.1287/mnsc.2022.03733
    Note: View the original document on HAL open archive server: https://hal.science/hal-05521428v1
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a
    for a similarly titled item that would be available.

    More about this item

    Keywords

    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:hal:journl:hal-05521428. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: CCSD (email available below). General contact details of provider: https://hal.archives-ouvertes.fr/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.