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This study investigates the impact of mandatory non-financial reporting on firm-level climate change risk of companies listed on the S&P 500 index spanning the period from 2007 to 2016. Employing a difference-in-differences methodology, the analysis reveals that the introduction of the Greenhouse Gas Reporting Program (GHGRP) precipitates a decline in climate change risk among the entities subjected to its mandates, with statistical significance observed at the 10% level. Furthermore, it demonstrates that the proportion of institutional investors does not exert a significant influence on this relationship. The findings remain robust when subjected to various sensitivity analyses. Moreover, additional analysis finds no significant alteration in the climate change exposure of affected firms following the introduction of the GHGRP. By extending beyond the conventional focus on greenhouse gas (GHG) emissions reduction, this paper advances the discourse on climate change risk by adopting the framework proposed by Sautner et al. (2023a).

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This paper assesses the influence of shareholders with different sizes of holdings on the ESG performance of companies based on the Russel 1000 index. Corporate social responsibility is becoming increasingly important in today's society, with companies' ESG scores becoming a key measure for investors. Using a cross-sectional analysis, this paper examines the effect of the number of shareholders with a 3%, 5%, and 10% threshold on the ESG score and E, S & G scores separately. For the 5% threshold, it is notable that the number of shareholders of a company has a positive effect on ESG and its sub-domains. However, the impact decreases as the number of shareholders continue to increase. When it comes to the 3% and 10% thresholds, no significant results can be seen.

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We did quantitative research to investigate how information provision influences investment decisions in sustainable assets and to see which people are most affected by this information. We contributed to the existing literature by providing real positive and negative information about sustainable investments. Using a survey experiment, we analyzed different variables and their influence on sustainable investment decisions. As our dependent variable, we used the percentage of money that individuals wanted to invest in sustainable assets. Our independent variables were the treatment (positive, negative, no information), political and social preferences. We also used control variables: age, gender, income, education, and financial literacy. People are going to invest more in sustainable assets when they receive positive information, when they are left-wing or when they have high social preferences. We also found that people do not react differently to positive information based on political and social preferences.

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As the importance of climate change to people grows, the problem of "greenwashing," in which businesses falsely portray themselves as environmentally benign, has drawn considerable attention. Using Hofstede's cultural dimensions, this study examines how the national cultures of shareholders affect greenwashing tactics. The study looks at how certain cultural factors affect how much greenwashing is done in businesses. While there have been numerous studies on the subject, the influence of shareholders' national cultures has not been thoroughly examined. The study assigns scores to companies based on cultural dimensions influenced by their shareholder structure and conducts a regression analysis to explore the relationship between cultural dimensions and greenwashing scores. The study shows that around 86% of the studied companies do engage in greenwashing. However, the findings show that no cultural factor has a substantial impact on a company's level of greenwashing, indicating that shareholders, regardless of origin, do not significantly affect greenwashing.

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Previous studies have proven the importance of parental involvement in the financial education of the child. However, not much research was conducted on how parental financial education during childhood influenced the financial behaviour of an adult. Based on data from the DNB Household Survey, this relationship was studied through multiple linear regression analyses for each of the three variables measuring financial behaviour, i.e., saving attitude, investment behaviour and money management. The results showed a positive significant relationship for both saving attitude and investment behaviour. Money management was negatively impacted and became insignificant after the robustness analysis. Suggesting that in general, parental financial education positively influences adult financial behaviour.