Alexandr Kopytov
Institution
University of Rochester
PhD Year
2019
akopytov@simon.rochester.edu
FTG Membership
Member
Website
https://sites.google.com/view/alexandrkopytov/
Featured Work
Jul 22, 2023
Sustainable finance under regulation
We build a model analyzing optimal environmental regulation in the presence of socially responsible investors. Investors care about sustainability of their portfolios but cannot fully resolve the pollution externality. Regulations, such as pollution tax and subsidies to clean firms, reduce dirty firms’ size but also reshape firms’ shareholder compositions. Under the regulations, dirty firms’ shareholders become on average less averse to holding polluting shares and...
