Welcome to the ARIA 2021 Annual Meeting Agenda App. You are seeing this in simple view. Click on any session to see Presenters, Discussants and a Session Description. Click on Presenters to find a single presenter and their sessions. If you find an error, please email gphillips@aria.org. Registrants have been added and will continue to be updated until 7/29/21 when registration closes. Zoom links will be shared directly with all participants two days prior to the conference. Please make notifications@sched.com a "safe sender" in your email system. We will be sending messages throughout the conference through this medium.
Kyeonghee Kim, Florida State University; Anastasia Ivantsova, University of Calgary; Xiao (Joyce) Lin, St. John's University
We examine whether and how U.S. insurers have taken into account climate risks in their investment portfolios. We exploit a mandatory climate risk disclosure law adopted by multiple states in a staggered fashion, to identify differences in insurers’ carbon-intensive investments over time and across different states, while controlling for a range of insurer and state-specific factors. Our study contributes to the understanding of how institutional investors perceive climate risks, by providing empirical evidence on investors’ corporate bond portfolios rather than equity portfolios. We also add to the existing literature on the effect of climate risk disclosure laws. Our findings have implications on the important role of insurers in the process of transitioning to a carbon-free economy.
