Das Foto zeigt Christian Klein.
Profil

Prof. Dr. Christian Klein

Christian Klein ist Professor für Sustainable Finance an der Universität Kassel. Er beschäftigt sich unter anderem mit dem Anlageverhalten nachhaltiger Investoren, den Eigenschaften nachhaltiger Geldanlagen sowie den Auswirkungen von Nachhaltigkeit auf den Kapitalmarkt und damit verbundene Rahmenbedingungen. Ein besonderer Forschungsschwerpunkt liegt dabei in der Messung des Beitrags, den nachhaltige Anlageprodukte zur Erreichung der Sustainable Development Goals leisten können (Impact).

Ausgewählte Publikationen

  • Policy Brief

    PB 4/2022: Key observations about the open EU consultation on the functioning of the EU ESG ratings market

    The European Commission has launched a consultation on the functioning of the ESG ratings market in the European Union and on the consideration of ESG…

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  • Policy Brief

    PB 3/2022: Raising transparency through TCFD-aligned climate reporting

    The availability of consistent and comparable climate-related information is a decisive factor in considering the effects of climate change for business and investment decisions. The…

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  • Wissenschaftliche Publikation

    Organization & Environment: Under Pressure? The Link Between Mandatory Climate Reporting and Firms’ Carbon Performance

    We examine whether and how mandatory climate reporting leads to changes in firms’ carbon emissions. Drawing on legitimacy theory and using a difference-in-differences design, we…

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  • Wissenschaftliche Publikation

    Climate Policy: Financing the transformation: a proposal for a credit scheme to finance the Paris Agreement

    To achieve the goals of the Paris Agreement, massive investments in the real economy are needed. We propose providing long-term interest subsidized loans to companies…

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  • Wissenschaftliche Publikation

    Corporate Finance: New evidence on German retail investors: The desire to make an impact

    To achieve the goals of the Paris Agreement, massive investments in the real economy are needed. We propose providing long-term interest subsidized loans to companies…

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  • Policy Brief

    PB 10/2021: Divestments von Aktienportfolios führen zu sinkenden CO2-Emissionen

    Zur Erreichung der Klimaziele müssen Finanzströme von klimaschädlichen zu klimafreundlichen Wirtschaftsaktivitäten umgeleitet werden. Ein zentraler Ansatz dafür ist das Divestment, d. h. der gezielte Verkauf klima­schädlicher…

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  • Policy Brief

    PB 9/2021: Die EU Sustainable-Finance-Strategie – Implikationen für die künftige Bundesregierung

    Die überarbeitete Sustainable-Finance-Strategie der EU bestätigt die wichtige Rolle der Finanzbranche für die Nachhaltigkeitstransition der Wirtschaft, konkretisiert sie jedoch nicht ausreichend. Viele der Maßnahmen sind…

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  • Policy Brief

    PB 1/2021: Effizientes Impact Investing unter Berücksichtigung der Eigenschaften bestehender Eigentümer:innen

    Wirkungsorientiertes Investieren (Impact Investing) kann ein entscheidender Treiber für die nachhaltige Transformation der Wirtschaft sein. Allerdings beschränken sich öffentliche Förderprogramme und Initiativen in der Regel…

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  • Wissenschaftliche Publikation

    SN Business & Economics: Impact investments: a call for (re)orientation

    Practitioners and academics have been using different terms to describe investments in the sustainability context. The latest inflationary term is impact investments—investments that focus on…

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  • Wissenschaftliche Publikation

    Corporate Finance: Regulatory framework for sustainable investment products – Current developments and associated challenges

    With the Sustainable Finance legislative package published by the European Commission on April 21, 2021, another valuable step has been taken towards sustainable financial development.…

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  • Wissenschaftliche Publikation

    Journal of Asset Management: The effect of environmental sustainability on credit risk

    The European Commission has proposed establishing a framework that redirects capital to sustainable investments in order to foster sustainable economic growth. A key proposal from…

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  • Wissenschaftliche Publikation

    Business Strategy and the Environment: Integrated reporting of environmental, social, and governance and financial data: Does the market value integrated reports?

    The concept of reporting nonfinancial information within the annual report, so-called Integrated Reporting (IR) is a rising topic in reporting practice. Supporters claim that IR…

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  • Policy Brief

    PB 1/2019: Bedingungen für eine wirksame Sustainable Finance Taxonomie

    Der Policy Brief „Bedingungen für eine wirksame Sustainable Finance Taxonomie“ diskutiert die Stärken und Verbesserungsmöglichkeiten des aktuellen Regulierungsvorschlags und des Berichtes der TEG und diskutiert…

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  • Wissenschaftliche Publikation

    Journal of Sustainable Finance & Investment: On the heterogeneity of sustainable and responsible investors

    We demonstrate that German retail investors have very heterogeneous requirements pertaining to ‘sustainable investments’ as a group, based on a representative survey (n = 1014). According to…

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  • Wissenschaftliche Publikation

    Journal of Business Ethics: Individual and regional Christian religion and the consideration of sustainable criteria in consumption and investment decisions: An exploratory econometric analysis

    The concept of sustainable and responsible (SR) investments expresses that every investment should be based on the SR investor’s code of ethics. To a large…

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  • Wissenschaftliche Publikation

    Journal of Applied Accounting Research: Board composition and corporate risk-taking: a review of listed firms from Germany and the USA

    Corporate governance is a crucial factor when considering excessive corporate risk-taking. Since corporate boards play such an important role in corporate governance, the purpose of…

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  • Wissenschaftliche Publikation

    Sustainability: Exploring the Supply-Demand-Discrepancy of Sustainable Financial Products in Germany from a Financial Advisor’s Point of View

    Although retail investors’ interest in sustainable investment is constantly increasing, German credit unions and co-operative banks offer few sustainable financial products. The purpose of the…

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  • Wissenschaftliche Publikation

    Corporate Finance: Sustainable and conventional mutual funds: Do they really differ?

    This study empirically analyzes the claim that sustainable funds are masked conventional funds for a small part of the German equity fund market. Additionally, we…

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  • Wissenschaftliche Publikation

    Corporate Ownership and Control: The Effects of Ownership Concentration on Sustainability: A Case of Listed Firms from USA, UK and Germany

    Concentrated ownership has been speculated to play a direct role in leading firms to focus more on long-term sustainability. Concentrated ownership, however, can take many…

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  • Wissenschaftliche Publikation

    Corporate Finance: Characterizing German (Sustainable) Investors

    This paper highlights the results of four empirical studies, based on the same representative survey among German retail investors. We analyze the differences between sustainable,…

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  • Wissenschaftliche Publikation

    Journal of Banking & Finance: Corporate social responsibility and Eurozone corporate bonds: The moderating role of country sustainability

    In this paper, we empirically examine whether superior performance in corporate social responsibility (CSR) results in lower credit risk, measured by credit ratings and zero-volatility spreads (z-spreads).…

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  • Wissenschaftliche Publikation

    Business Research: Ethical requirement and financial interest: a literature review on socially responsible investing

    This paper provides an overview of the status quo in socially responsible investing (SRI) literature. We outline motives, history, and current best practice of SRI.…

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  • Wissenschaftliche Publikation

    Corporate Ownership and Control: Theoretical foundations of corporate governance revisited: A critical review

    In this paper we review some of the initial ideologies regarding corporate governance, focusing in particular on the – in the literature dominating – Principal-Agent-Approach.…

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