Conference Agenda
Please note that all times are shown in the time zone of the conference. The current conference time is: 15th Sept 2026, 08:45:30am CEST
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Daily Overview |
| Session | |
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SF 05: Corporate Governance and Sustainable Finance Location: LR M0.3 (Floor 0) Session Chair: Laura Starks, The University of Texas at Austin | |
| Presentation 1 | |
ID: 2081
Building Voice in Socially Responsible Investing University of Texas - Austin, United States of America We develop a dynamic model of socially responsible investment where large households trade firm equity and vote on production decisions involving the depletion of a nonrenewable resource. Although accumulating wealth and exercising voice are intratemporal substitutes, they are dynamic complements because influence is tied to wealth. Socially responsible households delay implementing resource-preserving policies that reduce firm productivity to amass wealth for future influence, while financially-motivated households may accumulate wealth to block conservation efforts. The constrained efficient technological choice balances higher productivity with society’s willingness to pay for conservation, and can be implemented through a voting protocol that assigns voice based on how depletion impacts welfare rather than shareholdings.
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