Heterogeneous investor attention to climate risk: Evidence from a unique dataset
- Authors
- Park, Hyejin; Kim, Minki; Ryu, Doojin
- Issue Date
- Sep-2022
- Publisher
- Investment Analysts Society of Southern Africa
- Keywords
- Carbon emission; climate change; COVID-19; ESG; investor attention
- Citation
- Investment Analysts Journal, v.51, no.4, pp 253 - 267
- Pages
- 15
- Indexed
- SSCI
SCOPUS
- Journal Title
- Investment Analysts Journal
- Volume
- 51
- Number
- 4
- Start Page
- 253
- End Page
- 267
- URI
- https://scholarworks.bwise.kr/erica/handle/2021.sw.erica/115268
- DOI
- 10.1080/10293523.2022.2110651
- ISSN
- 1029-3523
- Abstract
- The COVID-19 pandemic has led global investors to draw a parallel between pandemics and climate risk, focusing their attention on climate risk. We examine COVID-19’s effect on investors’ awareness of climate risk by analysing novel trading data for Korean-listed firms that include investor information. We observe that institutional investors divest from high-emission firms during the market crash induced by the COVID-19 pandemic, whereas individual investors do not, suggesting that investor attention to climate risk is heterogeneous. © 2022 Investment Analysts Society of South Africa.
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