Sustainable finance, startups and geopolitical risks | SHoF June Newsletter

In this issue:

• Insights on the effectiveness of Sweden’s carbon pricing and a discussion on impact investing
• Are recessions a good time to start a business? -- a new study
• Conference on geopolitical risks and firm operations, investments, and international trade.

HARNESSING FINANCE FOR THE CLIMATE

Last month we hosted the Harnessing Finance for the Climate conference, which brought together researchers, practitioners, and policymakers to discuss the role of finance in addressing climate change.

Carbon Pricing, Carbon Credit, and Carbon Incentives

Sweden was one of the world’s first countries to introduce a carbon tax. Per Str?mberg ?( Stockholm School of Economics /SHoF) presented insights from studies investigating how firms respond to carbon pricing in Sweden.

The presentation was followed by a discussion with?@Patrick Patrick Bolton ?( 英国帝国理工学院 ) and?Adair Morse?( University of California, Berkeley, Haas School of Business ).

A Conversation on Impact Investing with Adair Morse

Regulators play a crucial role in driving sustainable investments in financial markets.

In her conversation with? Jan Starmans ?( Stockholm School of Economics /SHoF),?Adair Morse?( University of California, Berkeley, Haas School of Business ) highlighted the differing approaches on the two sides of the Atlantic, emphasizing European "policy being on the regulatory front," and a US strategy that “provides carrots” - both important in combatting climate change.

Other videos

• Climate, Amenities and Banking: El Nino in the US
• Credit Supply and Green Investments
• Does Venture Capitalist Value Green Innovation? Evidence from State Climate Adaptation Plans
• The Shifting Finance of Electricity Generation
• The CO2 Question: Technical Progress and the Climate Crisis
• Bank Divestment and Green Innovation

Access all presentation videos

Are recessions a good time to start a business?

Recessions are often seen as a bad environment for startups but new research by Alexander Ljungqvist ?(( Stockholm School of Economics /SHoF) and?Daniel Bias?( Vanderbilt University ) suggests that economic downturns can positively impact the survival and growth prospects of innovative ventures.

Their findings challenge the prevailing notion that recessions result in funding constraints and long-lasting negative effects on new firms, instead highlighting that startups born during recessions excel in talent retention, possess stronger R&D teams, exhibit greater innovation, enjoy better survival rates, and have an improved ability to go public.

The Effects of Geopolitical Risks on Financial Markets and Firms

Welcome to the Swedish House of Finance Annual Conference on August 22-23 in Stockholm.

Learn more about geopolitical risks and firm operations, investments, and international trade. Among the conference topics:

• Strategies for financial markets to navigate uncertainty in a geopolitical context
• The impact of recent uncertainty shocks on global value chains and trade patterns
• The macroeconomic effects of sanctions
• Some issues in a small, open economy amidst change in power dynamics

Confirmed speakers:? Nick Bloom ?( 美国斯坦福大学 ),? Sebnem Kalemli-Ozcan ?( 美国马里兰大学帕克分校 ),? Steven Ongena ?( University of Zurich ),?Jens Henriksson?( Swedbank ),?Stefan Ingves?(former Riksbank Governor),? Marion Jansen ?( OECD - OCDE ), and Torbj?rn Becker ?(Stockholm Institute of Transition Economics).

The conference is organized by SHoF's Mariassunta Giannetti and Alvin Chen .

About Swedish House of Finance

The Swedish House of Finance at the Stockholm School of Economics was founded in 2011 through a government initiative to strengthen financial research in Sweden. Today it is one of the top research institutions in Europe. The Swedish House of Finance promotes a dialogue between researchers and decision-makers in the private and public financial sector.

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