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The birth of environmental finance

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dc.contributor.authorPham, H.
dc.contributor.authorRamiah, V.
dc.contributor.editorBoubaker, S.
dc.contributor.editorCumming, D.
dc.contributor.editorNguyen, D.K.
dc.date.issued2018
dc.description.abstractEnvironmental economics and accounting are well-established disciplines but environmental finance is in its infancy. In this chapter, we explore how the lessons learnt from economics and accounting literature can be extended to the finance discipline. For instance, the macroeconomic literature suggests that environmental regulations affect employment level, international trade and productivity, which in turn affect the market portfolio/systematic risk. The microeconomics literature implies that the cost and revenue functions of firms are altered - leading to a change in stock prices. The accounting literature focuses on environmental disclosure/performance, which subsequently leads to a change in the market value of the firm. The emerging finance literature shows the persistence of the ‘green effect’ and a risk-shifting behaviour in terms of the diamond risk structure.
dc.identifier.citationSource details - Title: Research handbook of finance and sustainability, 2018 / Boubaker, S., Cumming, D., Nguyen, D.K. (ed./s), Ch.8, pp.141-159
dc.identifier.doi10.4337/9781786432636.00016
dc.identifier.isbn9781786432636
dc.identifier.urihttps://hdl.handle.net/11541.2/130609
dc.language.isoen
dc.publisherEdward Elgar
dc.publisher.placeUK
dc.rightsCopyright 2018 Sabri Boubaker, Douglas Cumming and Duc Khuong Nguyen
dc.source.urihttps://ebookcentral.proquest.com/lib/unisa/reader.action?ppg=175%26docID=5454611%26tm=1533515929268
dc.subjectenvironment
dc.subjecteconomics
dc.subjectfinance literature
dc.subjectgreen effect
dc.titleThe birth of environmental finance
dc.typeBook chapter
pubs.publication-statusPublished
ror.mmsid9916114405201831

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