Author Archives: Janet Gao

Sustainability or Greenwashing: Evidence from the Asset Market for Industrial Pollution

By | June 2, 2022

In response to increasing pressures from activists, regulators, and governments, firms are accelerating the divestment of polluting assets. While this trend reflects mounting concerns about climate change, a natural question is how effective these divestments are in reducing pollution. On the one hand, Environmental, Social, and Governance (ESG) supporters can point to successful pressures that… Read More »

Partisanship in Loan Pricing

By | December 31, 2020

Recent years have seen a heightened level of partisan conflict in the U.S.[1] Both academic research and anecdotal evidence suggest that partisanship generates profound influence on individuals’ beliefs, leading them to selectively incorporate information that is favorable to their own political orientation.[2] In particular, partisanship appears to play a role in influencing individuals’ perceptions of… Read More »