The Fifth Conference on CSR, the Economy and Financial Markets

Description

The Fifth Conference on CSR, the Economy and Financial Markets

November 9-10, 2022

Sponsored by Global Finance Journal

Co-Sponsored by Northern Trust Company and Greenleaf Advisors


Program Chair:
Ali Fatemi: DePaul University & Greenleaf Advisors

Special Issue Guest Editor:
Lukas Roth, University of Alberta

Program Committee:
Giorgio Bertinetti, Ca’Foscari University
Audra Boone, Texas Christian University
Pierre Chollet, Montpellier University
Otgontssetseg Erhemjamts, Bentley University
Iraj Fooladi, Dalhousie University
Sadok El Ghoul, Univerity of Albetra
Stuart Gillan, University of Georgia
Martin Glaum, WHU, Otto Beisheim School of Management
Omrane Guedhami, University of South Carolina
Souad Lajili-Jarjir, Universite Paris Est Creteil
Vikas Mehrotra, University of Alberta
Lukas Roth, University of Alberta
Antonio Salvi, University of Turin
Henri Servaes, London Business School
Yoko Shirasu, Aoyama Gakuin University, Tokyo
Takafumi Sasaki, Chuo University, Tokyo
Burcin Yurtoglu, WHU, Otto Beisheim School of Management

The Conference on CSR, the Economy and Financial Markets is an annual event sponsored by Global Finance Journal that rotates its meeting among Chicago, Tokyo, and Düsseldorf. Returning to Chicago for the 2022 Conference, our co-sponsors are Greenleaf Advisors and Greenleaf Communities. Our principal corporate sponsor is Northern Trust Corporation, and we are grateful for their generosity. A limited number of seats are available to the academic audience. However, pre-registration (https://www.eventbrite.com/e/the-2022-conference-on-csr-the-economy-and-financial-markets-tickets-400382724507 ) is required.

Wednesday November 9, 2022

Session A: 8:00-8:45 am

Session Chair: Ali Fatemi, DePaul University & Greenleaf Advisors

Opening Keynote: Carl Tannenbaum, Chief Economist, Northern Trust
Climate Change: At a Crossroad

Sessions B: 8:45-10:15

B1: ESG and the Politics

Session Chair: Arati Kale, Providence College

Gas, Guns, and Governments: Financial Costs of Anti-ESG Policies
Daniel G. Garrett, Wharton
Ivan T. Ivanov, Federal Reserve Board

Discussant: Arati Kale, Providence College

Smokestacks and the Swamp
Emilio Bisetti, HKUST,
Stefan Lewellen, Penn State,
Arkodipta Sarkar, HKUST,
Xiao Zhao, HKUST

Discussant: Helen Popper, Santa Clara University

B2: ESG & Valuation

Session Chair: Ali Nejadmalayeri, University of Wyoming

Do Consumers Care About Corporate Social Responsibility? Evidence from Retail Markets
Jiaying Wei, Southwestern University of Finance and Economics,
Steven Chong Xiao, University of Texas at Dallas

Discussant: Brian Leite, Salve Regina University

Environmental regulation, pollution, and shareholder wealth
Seungho Choi, Queensland University of Technology,
Jonghyeon Park , University of New South Wales,
Simon Xu, UC Berkeley

Discussant: Yiyuan (Zoey) Zhou, University of Hong Kong
Wednesday November 9, 2021


Break: 10:15-10:30

Sessions C: 10:30 am - 12:00 pm

C1: Sustainability

Session Chair: Quoc Nguyen, DePaul University

Individual Investor Behavior and Sustainability
Thomas Jansson, Sveriges Riksbank, Sweden
Vicke Noren, Sveriges Riksbank, Sweden

Discussant: Quoc Nguyen, DePaul University

The Economics of Sustainability-Linked Bonds
Tony Berrada, University of Geneva
Leonie Engelhardt, University of Geneva
Rajna Gibson, University of Geneva
Philipp Krueger, University of Geneva

Discussant: Akhtar Siddique, OCC

C2: The Rater’s Effect

Session Chair: Vahap Uysal, DePaul University

CSR Disclosures and Firm Value: Disentangling the Role of ESG Rating Providers
Albane C. Tarnauda, IESEG School of Management
Mohammed Zakriya, IESEG School of Management

Discussant: Vahap Uysal, DePaul University

Local vs Foreign ESG Raters: Evidence from China
Jeff Chen, Texas Christian University,
Zengquan Li, Shanghai University of Finance and Economics,
Ting Mao, Chinese University of Hong Kong,
Aaron Yoon, Northwestern University

Discussant: Jiawei (Brooke) Wang, University of Iowa


Lunch: 12:00-1:00 pm

Wednesday November 9, 2022

Sessions D: 1:00 – 3:15 pm

D1: Climate Change, ESG & Asset Returns

Session Chair: Mobina Shafaati, Old Dominion University

Climate Change Salience and International Equity Returns
David Parsley, Vanderbilt University,
Helen Popper, Santa Clara University

Discussant: Mobina Shafaati, Old Dominion University

Nailing Down Volatile Temperatures: Examining their Effects on Asset Prices
Leonardo Bortolan, University of Bologna,
Atreya Dey, University of Edinburgh,
Luca Taschini, London School of Economics

Discussant: Lin Peng, Baruch College, City University of New York

ESG Investing and Stock Return Co-movements
Lin Peng, Baruch College, City University of New York
Jing Xie, Hong Kong Polytechnic University

Discussant: Natalya Bikmetova, University of Central Florida

D2: Enter the Government

Session Chair: Robert McDonald, Northwestern University and NBER

Waiting or Acting: The Effects of Climate Policy Uncertainty
Jiawei (Brooke) Wang, University of Iowa

Discussant: Robert McDonald, Northwestern University and NBER

Environmental regulatory risks, firm pollution, and mutual funds’ portfolio choices
Simon Xu, UC Berkeley

Discussant: Lixiong Guo, University of Alabama

Green Public Procurement and Corporate Environment Policies
Wendi Huang, University of Hong Kong

Discussant: Chelsea Yang, University of British Columbia


Wednesday November 9, 2022

Break: 3:15-3:30 pm

Sessions E: 3:30 – 5:00 pm

E1: Perceptions & Attitudes

Session Chair: Xiang Gao, Loyola University Chicago

ESG and Shareholder Value: The Role of Board Facial Impressions and Perceived Trustworthiness
Siew Hong Teoh, UCLA,
Jiawen Yan, Cornell University,
Aaron S. Yoon, Northwestern University,
Luo Zuo, Cornell University

Discussant: Mohammed Zakriya, IESEG School of Management

The Labor Market and ESG Adoption in the Mutual Fund Industry
Natalya Bikmetova, University of Central Florida

Discussant: Xiang Gao, Loyola University Chicago


E2: Safety and Health

Session Chair: Tingting Liu, Iowa State University

Outsourcing Workplace Safety
Sangeun Ha, Copenhagen Business School

Discussant: Steven Chong Xiao, University of Texas at Dallas

Do Independent Boards Harm Employee Safety and Health?
Lixiong Guo, University of Alabama
Zhiyan Wang, University of Alabama

Discussant: Tingting Liu, Iowa State University




Thursday November 10, 2022

Session F: General Session 8:15 am – 11:30 am

Session Chair: Ravi Jagannathan, Northwestern University

8:15-9:00 am:
Environmental Activism, Endogenous Risk, and Stock Prices
Ravi Jagannathan, Northwestern University and NBER,
Soohun Kim, KAIST,
Robert McDonald, Northwestern University and NBER,
Shixiang Xia, Hong Kong Polytechnic University

Discussant: Pavel Savor, DePaul University

9:00-9:45 am:
Investor ESG Tastes and Asset Pricing
Liying Wang, University of Nebraska, Lincoln
Juan (Julie) Wu, University of Nebraska, Lincoln

Discussant: Ravi Jagannathan, Northwestern University

9:45-10:00 am: Break

10:00-10:45 am:
Usefulness of Hard Information: Case of Default Risk and ESG Factors
Iftekhar Hasan, Fordham University,
David Lynch, Federal Reserve Board,
Akhtar Siddique, OCC

Discussant: Ali Nejadmalayeri, University of Wyoming

10:45-11:30 am
Female Equity Analysts and Corporate Environmental and Social Performance
Kai Li, University of British Columbia,
Feng Mai, Stevens Institute of Technology,
Gabriel Wong, Cardiff University,
Chelsea Yang, University of British Columbia,
Tengfei Zhang, Rutgers University

Discussant: Aaron S. Yoon, Northwestern University




Thursday November 10, 2022

Transitions: A Sustainable Wealth Management Conference


Keynotes and Panel Discussions

12:00 pm – 12:30 pm: Welcome, Lunch, and Opening Remarks by Kimberly Evans, Executive Vice President and Head of Corporate Sustainability, Inclusion and Social Impact at Northern Trust

12:30 pm – 1:30 pm: Keynote by Robert Litterman, Chairman of the Risk Committee and founding partner at Kepos Capital, Climate Leadership Council member and lead author of Managing Climate Risk in the U.S. Financial System for the CFTC. He will present on carbon pricing and assessing climate related risk in investment decisions.

1:30 pm – 2:30 pm: Climate-conscious investments in the agricultural and food sectors
Cristina Rohr, S2G Ventures
Ann Bartuska, Resources for the Future
Paul West, Drawdown
Tyler Strom, Illinois Agri-Food Alliance
Moderator: David Donnan, Northwestern University

2:30 pm – 3:00 pm: Don Wuebbles, Lead Author of Fourth U.S. Climate Assessment; will present NAS framework on GHG emissions and decision-making; and Earth Knowledge’s integrated planetary intelligence platform serving corporations and financial services to harness opportunities and mitigate operational, supply chain, and investment risks. Frank D’Agnese of Earth Knowledge will join Don.

3:00 pm – 3:15 pm: Break

3:15 pm – 4:15 pm: Mitigating Risks and Incorporating Transitions
Adam Fleck, Morningstar
Jeff Cohen, Oak Hill Advisors
Jim Hietala, The Open Group
Moderator: TBD

4:15 pm – 4:45 pm: Chris Goolgasian, Dir. of Climate Research, Wellington Mgt. Chris spearheads an initiative with Woodwell Climate Research Ctr. integrating climate science & asset mgt to amplify their impact.