Attention to Global Warming
Publication in refereed journal

替代計量分析
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其它資訊
摘要We find that people revise their beliefs about climate change upwards when experiencing warmer than usual temperatures in their area. Using international data, we show that attention to climate change, as proxied by Google search volume, increases when the local temperature is abnormally high. In financial markets, stocks of carbon-intensive firms underperform firms with low carbon emissions in abnormally warm weather. Retail investors (not institutional investors) sell carbon-intensive firms in such weather, and the return patterns are unlikely to be driven by changes in fundamentals. Our study sheds light on understanding collective beliefs and actions in response to global warming.
著者Darwin Choi, Zhenyu Gao, Wenxi Jiang
期刊名稱Review of Financial Studies
出版年份2020
月份3
卷號33
期次3
出版社Oxford University Press
頁次1112 - 1145
國際標準期刊號0893-9454
電子國際標準期刊號1465-7368
語言美式英語

上次更新時間 2021-22-01 於 01:55