DC Field | Value | Language |
---|---|---|
dc.contributor.advisor | Park, Kwangwoo | - |
dc.contributor.advisor | 박광우 | - |
dc.contributor.author | Han, Byunghun | - |
dc.date.accessioned | 2023-06-21T19:31:01Z | - |
dc.date.available | 2023-06-21T19:31:01Z | - |
dc.date.issued | 2023 | - |
dc.identifier.uri | http://library.kaist.ac.kr/search/detail/view.do?bibCtrlNo=1033050&flag=dissertation | en_US |
dc.identifier.uri | http://hdl.handle.net/10203/307529 | - |
dc.description | 학위논문(석사) - 한국과학기술원 : 경영공학부, 2023.2,[iii, 41 p. :] | - |
dc.description.abstract | In this study, we empirically examine the effect of air pollution on stock returns in the Korean stock market. Using the Ordinary Least Squares (OLS) and the Two-Stage Least Squares (2SLS) analyses with air pollution in China as an instrument, we find that higher levels of air pollution leads to lower market-adjusted returns. At the same time, we argue that an increase in air pollution leads to higher market-adjusted returns when firms have high overall ESG, environmental, and social ratings. Another finding is that the outbreak of coronavirus disease enhances air quality in South Korea, and the effect of air pollution becomes insignificant since the covid-19 takes away investors’ attention. Our study provides evidence that there’s an incentive for firms to establish better ESG structures to confront upcoming climate change. | - |
dc.language | eng | - |
dc.publisher | 한국과학기술원 | - |
dc.subject | Air pollution▼aESG ratings▼aStock returns▼aCoronavirus▼aInvestors' mood | - |
dc.subject | 대기 오염▼aESG 평가▼a주식 수익률▼a코로나 바이러스▼a투자자 기분 | - |
dc.title | Air quality, ESG ratings, and stock returns | - |
dc.title.alternative | 대기질, ESG 평가, 그리고 주식 수익률 | - |
dc.type | Thesis(Master) | - |
dc.identifier.CNRN | 325007 | - |
dc.description.department | 한국과학기술원 :경영공학부, | - |
dc.contributor.alternativeauthor | 한병훈 | - |
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