Dr Alberta Di Giuli, Finance Professor, ESCP Business School
This paper studies how mutual fund managers’ experience with abnormally warm temperature affects their voting behaviour on environmental shareholder proposals. We find that mutual funds exposed to abnormally warm temperature are significantly more likely to vote in favour of environmental proposals. Environmentally responsible funds, funds located in areas more receptive to scientific evidence on climate change, and funds located in Democrat states are less prone to react to abnormally warm temperature. We find that the increased support for environmental proposals following warm temperature exposure is significantly stronger for firms with greater climate risk or exposure. The temperature effect on mutual fund voting is stronger after the Paris Agreement. Our study sheds light on the role played by personal experience with abnormal temperature for shareholder voice on environmental issues.
Speaker bio
Alberta Di Giuli is a Finance Professor at ESCP Business School. Her research focuses on corporate social responsibility, corporate governance, and media coverage. Previously, Dr Di Giuli was an Assistant Professor of Finance at ISCTE Business School, Lisbon, a research assistant at the London School of Economics and a visiting fellow at Harvard Business School. She received her PhD in Finance from Bocconi University, Milan.
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Event timings
Date:
8 June 2021
Start Time:
13:00
End Time:
14:00