price, the equilibrium risk-free rate, and risk premia. Climate disasters, which are more likely to occur sooner as … temperature rises, significantly increase risk premia. …

risk premium, with the overall equity premium depending on the volatility of the stochastic process that governs climate … change risk. Transition risks lower substantially the participation of carbon intensive assets in the market portfolio, which …

volatility to ex post realized volatility by analyzing volatility risk premia changes due to hurricanes indicates that investors …

volatility to ex post realized volatility by analyzing volatility risk premia changes due to hurricanes indicates that investors …

that lead to these assets becoming stranded. Our result suggest that climate change implies a positive and increasing risk … risk. Transition risks lower substantially the participation of carbon intensive assets in the market portfolio, which …

the occurrence of a natural disaster, the reconstruction can be financed with catastrophe bonds (CAT bonds) or reinsurance … basis risk borne by the sponsor while still preserving a non-indemnity trigger mechanism. Our results indicate that the …

This study uses disaggregated establishment-level data to identify a firm’s exposure to physical climate risk and … environmental profiles pays off when climate change risk is materialized …

light on how long-memory investors react to disaster risk and play a role in future prices. The theoretical results show … from the time of the COVID-19 pandemic, including a novel definition of disaster based on COVID-19 intensity. The setup … allows us to disentangle the probability of disaster and investors' updating probability at each point in time which sheds …

's method that uses physical climate risk indicators. In a sample with materially exposed industries, we find a negative risk … channels: the distance between a firm's headquarters and the affected facility and its exposure to physical risk. …