Three Essays on Sustainable Finance

Diplôme Thèse Three Essays on Sustainable Finance eng 2022-09-08 2022-10-18 author Jouvenot Valentin 815910 director Krueger Philipp 736280 10.13097/archive-ouverte/unige:164564 urn:nbn:ch:unige-1645640 GSEM 111 In this dissertation, I develop three essays on sustainable finance. In Chapter 1, I examine whether and why corporate water management affects the valuations of manufacturing firms. I document that good water management is associated with an increase in firm value and a decrease in operating costs during droughts, which suggests that water management allows firms to mitigate the cost of droughts. In Chapter 2, my coauthor and I examine the real and financial effects of a regulation that mandates publicly listed firms to disclose their carbon emissions in a standardized way in their annual reports. We show that the disclosure regulation affects the future costs of high emissions and leads to a significant reduction in firm-level carbon emissions. In Chapter 3, we show that a small university endowment can elicit greater corporate carbon emissions disclosure through shareholder engagement. Disclosure Sustainability Mandatory disclosure regulation Greenhouse gas emissions Climate change mitigation Climate finance Financial performance Institutional investors Shareholder Engagement University endowment Finance Sustainable Finance ESG Corporate Social Responsibility (CSR) Socially responsible investing (SRI) Drought Water management Firm value Climate change Dewey 650 Prix William Rappard for best Ph.D. thesis on Sustainability 116 Geneva Finance Research Institute S4 false bcfa3e29-0b46-45c1-9b74-7d452c6f4f74 Thesis Public jouvenot_thesis.pdf 11604387 application/pdf 8a464cce-a73c-460d-8e9f-2f49018219ad Imprimatur Public jouvenot_imprimatur.pdf 201366 application/pdf openAccess Faculté d'économie et de management / Geneva Finance Research Institute

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Jouvenot, Valentin

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