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X-WR-CALDESC:Events for CREST
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TZID:Europe/Helsinki
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TZOFFSETFROM:+0200
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DTSTART:20190331T010000
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DTSTART:20191027T010000
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BEGIN:VEVENT
DTSTART;TZID=Europe/Helsinki:20191016T001500
DTEND;TZID=Europe/Helsinki:20191016T133000
DTSTAMP:20260713T024010
CREATED:20190826T122821Z
LAST-MODIFIED:20190826T122821Z
UID:12303-1571184900-1571232600@crest.science
SUMMARY:Martin Oehmke (LSE) - "A Theory of Socially Responsible Investment"
DESCRIPTION:CREST Microeconomics Seminar :  \n\nTime: 12:15 pm – 1:30pm\nDate: 16th Oct. 2019\nPlace: Room 3001.\nMartin Oehmke (LSE) – “A Theory of Socially Responsible Investment”\,  joint work with Marcus Opp\n\nAbstract: \n“Based on a canonical model of corporate financing under agency frictions\, we characterize how and when socially responsible investors can affect firm behavior and derive an investment criterion\, the social profitability index (SPI)\, to guide scarce socially responsible capital. The SPI highlights the importance of counterfactual social costs that would arise in the absence of socially responsible investors. Accordingly\, most existing ESG metrics are not suited to guide investment decisions. Our model also uncovers a complementarity between financial capital and socially responsible capital: The presence of financial investors without regard for externalities can raise welfare relative to a setting with only socially responsible investors.” \n\nOrganizers: \n\n\nRoxana Fernandez Machado (CREST)\, Marie Laure Allain (CREST)\, and Linda Schilling (CREST)\nSponsors:\nCREST\nLunch registration:\nfood provided\, no registration needed\n\n  \n
URL:https://crest.science/event/martin-oehmke-lse-a-theory-of-socially-responsible-investment/
LOCATION:3001
CATEGORIES:Microeconomics
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