We investigate how optimal attention allocation of green-motivated investors changes information asymmetry in financial markets and thus affects firms‘ financing costs. To guide our empirical analysis, we propose a model where investors with heterogeneous green preferences endogenously...

I investigate how firms' environmental responsibilities affect expected stock returns. Using the environmental pillar score from the ASSET4 ESG dataset, I find that greener stocks have lower expected returns. This greenium remains significant after controlling for systemic and idiosyncratic...

To effectively restore the groundwater environment of the Shiping Mine (SPM) area, which is contaminated by acid mine drainage (AMD), a hydrogeochemical conceptual model was constructed based on groundwater chemistry and environmental stable isotopes. The contribution rate of various pollution...