Faculty & Research
Faculty & Research
6
Results
- October 2025
- Journal of Financial Economics
Measurement and Effects of Bank Exit Policies
By: Daniel Green and Boris Vallée
| We study whether exit policies by financial institutions have financial and real consequences on the firms they target, using bank coal exit policies as a laboratory. In contrast to theories assuming high capital substitutability, we find large effects of these... |
- April 2025
- Journal of Finance
The Allocation of Socially Responsible Capital
By: Daniel Green and Benjamin N. Roth
| Portfolio allocation decisions increasingly incorporate social values. We develop a tractable framework to study how competition between investors to own socially valuable assets affects social welfare. Relative to the most common social-investing strategies, we... |
- February 2024
- Teaching Material
Divesting Harvard's Endowment
By: Daniel Green and Luis M. Viceira
| Teaching Note for HBS Case No. 221-009. |
- 18 Apr 2023
- Research & Ideas
What Happens When Banks Ditch Coal: The Impact Is 'More Than Anyone Thought'
by Barbara DeLollis
| Bank divestment policies that target coal reduced carbon dioxide emissions, says research by Boris Vallée and Daniel Green. Could the finance industry do even more to confront climate change? |
- June 2022
- Case
PFA Pensions: The Climate Plus Product
By: Daniel Green, Victoria Ivashina and Alys Ferragamo
| The case explores whether alternative investments play a unique role in achieving low carbon dioxide emissions at the portfolio level. This case is set in April of 2020 and follows Kasper Ahrndt Lorenzen, Chief Investment Officer, and Peter Tind Larsen, Head of... |
- October 2020 (Revised August 2025)
- Case
Divesting Harvard's Endowment
By: Daniel Green, Luis M. Viceira and Holly Fetter
| By early 2020 Harvard University was facing growing pressure from students, faculty, and alumni to divest its $40 billion endowment of financial stakes in fossil fuel producers. Its previous policy of avoiding the issue was quickly becoming outdated—$21 trillion of... |