Counterproductive Sustainable Investing: The Impact Elasticity of Brown and Green Firms
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We develop a new measure of impact elasticity: the change in a firm's environmental impact due to a change in its cost of capital. We find that reducing green firms' financing costs leads to minimal impact changes, while increasing brown firms' financing costs causes significant negative impact
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美国国家经济研究局创建时间：
2026-07-01
