Publications

All publications

• Scientific publication

  SN Business & Economics: Principles for impact investments: practical guidance for impact measurement, assessment and valuation

  Impact investments have gained tremendous recognition among investors as well as policy makers in the last years. However, specific details about impact investments are not…

  Read publication
• Scientific publication

  Journal of Asset Management: What attracts sustainable fund flows? Prospectus versus ratings

  Many studies indicate that sustainability ratings attract high fund flows, reinforcing the dominant role of rating agencies for the fund industry. However, these studies neglect…

  Read publication
• Scientific publication

  Finance Research Letters: What you see is not what you get: ESG scores and greenwashing risk

  This paper shows that ESG scores capture a company’s greenwashing behavior. Greenwashing accusations are most prevalent among large companies with high ESG scores. We empirically…

  Read publication
• Scientific publication

  Finance Research Letters: Sustainability labels matter

  We investigate whether funds holding a sustainability label, exhibit better sustainability performance compared to unlabeled funds. Using a sample of over 150 public equity funds…

  Read publication
• Scientific publication

  Journal of Asset Management: ESG as risk factor

  There are numerous risk factors in asset pricing models that have been identified over the years. In this paper, we address the question of whether…

  Read publication
• Scientific publication

  Energy Economics: Social norms and individual climate protection activities: A survey experiment for Germany

  Based on the well-known observation that social norms can guide individual behavior, this paper empirically examines the causal effect of related information interventions on climate…

  Read publication
• Scientific publication

  Ecological Economics: Nobody decides for all — Modeling incentives and policies for closing the material loop

  This paper introduces an analytical model that characterizes the incentives of the manufacturing industry, consumers, and waste management sectors in closing the material loop. To…

  Read publication
• Policy Brief

  PB 6/2024: Why Do Investors Pay Higher Fees for Sustainable Investments? The role of financial literacy

  The growing supply of sustainable investments, along with increased media attention and EU regulations (like the MiFID II amendments of 20211 and the introduction of…

  Read publication
• Policy Brief

  PB 5/2024: Biodiversity and Financial Risk Assessments

  The rapid loss of biodiversity is threatening the ecosystem services that many industries rely on, also posing significant risks to financial institutions and the overall…

  Read publication
• Policy Brief

  PB 4/2024: Does MiFID II enable private investors to invest sustainably?

  MiFID II is a comprehensive regulatory framework aimed at increasing transparency and oversight in the European financial markets, improving investor protection, and preventing market abuse.…

  Read publication