Ashby Monk
Co-Host at Free Money with Sloane and Ashby
Research Director @StanfordLTI, Head of Research @Addepar My latest book: https://t.co/wp6hDoty9m…
Articles
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Oct 21, 2024 |
onlinelibrary.wiley.com | Shaojun Zhang |Ashby Monk
The pricing of carbon transition risk is a central question as investors consider climate-aware investments. Theoretically, brown firms are more exposed to policy risk during the transition to net zero and should earn higher expected returns in equilibrium (Hsu, Li, and Tsou, 2023). Green firms, however, can outperform when policy shocks kick in, consumer attention turns, and investor tastes shift in transition to net-zero (Pastor, Stambaugh, and Taylor, 2021).
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