Author Archives: Hyun-Soo Choi

Tug of War in Corporate Environmental Lobbying 

By | March 24, 2023

Do firms engage in political competition in environmental lobbying when they have opposing environmental stances? If yes, is there any deadweight loss of corporate value and social resources due to such political competition? Our recent working paper theoretically and empirically explores how firms can compete to capture an environmental policy through lobbying. Corporate lobbying is… Read More »

ESG Commitment and the Value of “Walking the Talk”: Evidence from Closed-End Funds

By | April 5, 2022

Does a firm’s initiative for Environmental, Social, and Governance (ESG) increase firm value? In our recent working paper, we investigate how a firm’s commitment to ESG can increase (or decrease) the firm value using closed-end funds (CEFs) as an empirical laboratory. In particular, we focus on the role of credible commitments to ESG in determining the… Read More »