关于环境的三篇论文
专题名称：环境
涉及期刊：
Journal of Public Economics、Review of Finance、
Review of Accounting Studies
# 01#
题目：
Heard the news? Environmental policy and clean investments
作者：
Joëlle Noailly:Geneva Graduate Institute, Switzerland、Vrije Universiteit Amsterdam, The Netherlands、Tinbergen Institute, The Netherlands
Laura Nowzohour:European Central Bank, Germany
Matthias van den Heuvel:The Brattle Group, United States
Ireneu Pla：Geneva Graduate Institute, Switzerland
摘要：
We build the first news-based index of US environmental and climate policy and examine how it relates to clean investments. Extracting text from ten leading US newspapers over the last four decades, we use text-mining techniques to develop a granular news index of US environmental and climate policy (EnvP) over the 1981–2019 period. Furthermore, we develop a set of additional measures, namely an index of sentiment on environmental policy, as well as various topic-specific indexes. We validate our index by showing that it correctly captures trends and peaks in the evolution of US environmental and climate policy and that it has a meaningful association with clean investments, in line with environmental regulations supporting growing opportunities for clean markets. In firm-level estimations, we find that our index is associated with a greater probability of receiving venture capital (VC) funding for cleantech startups and reduced stock returns for high-emissions firms most exposed to environmental regulations. At the aggregate level, we find in VAR models that a shock in our news-based index of renewable energy policy is associated with an increase in the number of clean energy VC deals and in the assets under management of a benchmark clean energy exchange-traded fund.
来源：
Journal of Public Economics, Volume 222, June 2023, 104890
文章涉及数据：
1、 1981 年至 2019 年期间新闻数据，包括《纽约时报》、《华盛顿邮报》、《华尔街日报》、《休斯顿纪事报》、《达拉斯晨报》、《旧金山纪事报》、《波士顿先驱报》、《坦帕湾时报》、《（圣何塞）水星新闻》和《圣地亚哥联合论坛报》
（CnOpenData相关数据： 1997-2022年华尔街日报新闻文本数据、1851-2024.9纽约时报新闻文本数据）
# 02#
题目：
Green links: corporate networks and environmental performance
作者：
Hossein Asgharian：Department of Economics, Lund University
Zahra Hashemzadeh：Stockholm Business School, StockholmUniversity
Zahra Hashemzadeh：Saxo Bank
Lu Liu：Stockholm Business School, StockholmUniversity
摘要：
We investigate the propagation of environmental performance among competitors and in customer–supplier relationships. We find a significant causal effect among competitors, while the propagation from customers to suppliers and vice versa appears insignificant or does not survive identification tests. The effect is stronger among firms in highly concentrated competitor networks and toward firms with less market and bargaining power than their competitors. We also find significantly stronger propagation of environmental performance among competitors engaged in joint research and development activity. These results show that the propagation stems from both competitive pressure and technological spillover. Importantly, we find that propagation is strong when the competitor improves its environmental performance and when the firm’s own environmental performance is poor initially, alleviating concerns that improvements in performance are concentrated among firms, which are already green. Overall, network effects among competing firms are a significant force shaping environmental performance, and a force mostly for good.
来源：
Review of Finance，Volume 28, Issue 3May 2024
文章涉及数据：
公司关系数据
环境绩效数据
会计数据
（CnOpenData相关数据：A股上市公司社会责任报告数据、2001-2023年A股上市公司供应链数据、5800w+量级 中国各地区招投标数据）
# 03#
题目：
Corporate carbon accounting: balance sheets and flow statements
作者：
Stefan Reichelstein：Mannheim Institute for Sustainable Energy Studies, University of Mannheim ZEW-Leibniz Centre for European Economic Research
摘要：
Current corporate disclosures regarding carbon emissions lack generally accepted accounting rules. The transactional carbon accounting system described here takes the rules of historical cost accounting for operating assets as a template for generating carbon emissions (CE) statements comprising a balance sheet and a flow statement. The asset side of the CE balance sheet reports the carbon emissions embodied in operating assets. The liability side conveys the firm’s cumulative direct emissions into the atmosphere as well as the cumulative emissions embodied in goods acquired from suppliers less those sold to customers. Flow statements report the company’s annual corporate carbon footprint calculated as the cradle-to-gate carbon footprint of goods sold during the current period. Taken together, balance sheets and flow statements generate key performance indicators of a company’s past, current, and future performance in the domain of carbon emissions.
来源：
Review of Accounting Studies，Volume 29, pages 2125–2156, (2024)
CnOpenData环境系列数据如下：
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