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Article: Mutual Fund Pollution Experience and Environmental Voting
| Title | Mutual Fund Pollution Experience and Environmental Voting |
|---|---|
| Authors | |
| Issue Date | 20-Mar-2024 |
| Publisher | Elsevier |
| Citation | Journal of Banking and Finance, 2024, v. 162 How to Cite? |
| Abstract | We study the relationship between mutual fund management's direct experience with extreme environment events and the fund's voting behavior on environmental issues. We find that higher air pollution in a fund's home county increases its propensity to vote in support of shareholders' environmental proposals. The effect is weakened by fund manager turnovers, and managers' affiliation with the Republican Party. Conversely, the effect is stronger for more highly contested environmental proposals. Overall, our results suggest that mutual fund management's direct experience with extreme environment events plays a significant role in motivating the fund's environmental engagements. |
| Persistent Identifier | http://hdl.handle.net/10722/342084 |
| ISSN | 2021 Impact Factor: 3.539 2020 SCImago Journal Rankings: 1.580 |
| DC Field | Value | Language |
|---|---|---|
| dc.contributor.author | Foroughi, Pouyan | - |
| dc.contributor.author | Marcus, Alan | - |
| dc.contributor.author | Nguyen, Vinh | - |
| dc.date.accessioned | 2024-03-27T03:04:28Z | - |
| dc.date.available | 2024-03-27T03:04:28Z | - |
| dc.date.issued | 2024-03-20 | - |
| dc.identifier.citation | Journal of Banking and Finance, 2024, v. 162 | - |
| dc.identifier.issn | 0378-4266 | - |
| dc.identifier.uri | http://hdl.handle.net/10722/342084 | - |
| dc.description.abstract | <p>We study the relationship between mutual fund management's direct experience with extreme environment events and the fund's voting behavior on environmental issues. We find that higher air pollution in a fund's home county increases its propensity to vote in support of shareholders' environmental proposals. The effect is weakened by fund manager turnovers, and managers' affiliation with the Republican Party. Conversely, the effect is stronger for more highly contested environmental proposals. Overall, our results suggest that mutual fund management's direct experience with extreme environment events plays a significant role in motivating the fund's environmental engagements.</p> | - |
| dc.language | eng | - |
| dc.publisher | Elsevier | - |
| dc.relation.ispartof | Journal of Banking and Finance | - |
| dc.title | Mutual Fund Pollution Experience and Environmental Voting | - |
| dc.type | Article | - |
| dc.identifier.doi | 10.1016/j.jbankfin.2024.107149 | - |
| dc.identifier.volume | 162 | - |
| dc.identifier.issnl | 0378-4266 | - |