Julian F Kölbel

University of St. Gallen - School of Finance

Unterer Graben 21

St. Gallen, 9000

Switzerland

MIT Sloan

100 Main Street

Cambridge, MA 02142

United States

Swiss Finance Institute

c/o University of Geneva

40, Bd du Pont-d'Arve

CH-1211 Geneva 4

Switzerland

  • University of St. Gallen - School of Finance

  • MIT Sloan

  • Swiss Finance Institute

SCHOLARLY PAPERS

10

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93,866

SSRN CITATIONS
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Top 4,715

in Total Papers Citations

300

CROSSREF CITATIONS

57

Scholarly Papers (10)

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1.

Aggregate Confusion: The Divergence of ESG Ratings

Forthcoming Review of Finance
Number of pages: 48 Posted: 20 Aug 2019 Last Revised: 26 Apr 2022
Florian Berg, Julian F Kölbel and Roberto Rigobon
Massachusetts Institute of Technology (MIT) - Sloan School of Management, University of St. Gallen - School of Finance and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 59,819 (37)
Citation 1,756

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Corporate Social Responsibility, Corporate Sustainability, ESG Rating Agencies, ESG Rating Disagreement

2.

The Economic Impact of ESG Ratings

Number of pages: 63 Posted: 13 May 2022 Last Revised: 09 Nov 2023
Florian Berg, Florian Heeb and Julian F Kölbel
Massachusetts Institute of Technology (MIT) - Sloan School of Management, Massachusetts Institute of Technology (MIT) - Sloan School of Management and University of St. Gallen - School of Finance
Downloads 6,714 (1,913)
Citation 5

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Responsible investing, social impact, ESG ratings, asset prices, corporate investment, corporate governance

3.

ESG Confusion and Stock Returns: Tackling the Problem of Noise

Downloads 6,714 ( 1,915)
Citation 6

ESG Confusion and Stock Returns: Tackling the Problem of Noise

Number of pages: 72 Posted: 12 Oct 2021 Last Revised: 26 Jun 2023
Florian Berg, Julian F Kölbel, Anna Pavlova and Roberto Rigobon
Massachusetts Institute of Technology (MIT) - Sloan School of Management, University of St. Gallen - School of Finance, London Business School and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 6,695 (1,906)
Citation 8

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measurement error, instrumental variables, sustainable investing, ESG ratings

ESG Confusion and Stock Returns: Tackling the Problem of Noise

NBER Working Paper No. w30562
Number of pages: 69 Posted: 17 Oct 2022 Last Revised: 05 Jul 2023
Florian Berg, Julian F Kölbel, Anna Pavlova and Roberto Rigobon
Massachusetts Institute of Technology (MIT) - Sloan School of Management, University of St. Gallen - School of Finance, London Business School and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 19 (917,556)
Citation 1
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4.

Who Pays for Sustainability? An Analysis of Sustainability-Linked Bonds

Swiss Finance Institute Research Paper No. 23-07
Number of pages: 35 Posted: 09 Feb 2022 Last Revised: 08 Feb 2023
Julian F Kölbel and Adrien-Paul Lambillon
University of St. Gallen - School of Finance and University of Zurich - Department of Banking and Finance
Downloads 5,187 (2,969)
Citation 2

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Sustainable investing, ESG, sustainability-linked bonds, corporate bonds, cost of debt

5.

Can Sustainable Investing Save the World? Reviewing the Mechanisms of Investor Impact

Kölbel, Julian F., Florian Heeb, Falko Paetzold, and Timo Busch. in press. ‘Can Sustainable Investing Save the World? Reviewing the Mechanisms of Investor Impact’. Organization & Environment. Available at: https://doi.org/10.1177/1086026620919202
Number of pages: 34 Posted: 11 Dec 2018 Last Revised: 02 Aug 2023
Julian F Kölbel, Florian Heeb, Falko Paetzold and Timo Busch
University of St. Gallen - School of Finance, Massachusetts Institute of Technology (MIT) - Sloan School of Management, EBS Universität für Wirtschaft und Recht and School of Business, Economics and Social Sciences, University of Hamburg
Downloads 5,093 (3,059)
Citation 3

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Sustainable Investment; Impact; Causality; Literature Review; Sustainable Development Goals (SDGs)

6.

Do Investors Care About Impact?

Forthcoming in The Review of Financial Studies
Number of pages: 75 Posted: 13 Jan 2021 Last Revised: 02 Aug 2023
Florian Heeb, Julian F Kölbel, Falko Paetzold and Stefan Zeisberger
Massachusetts Institute of Technology (MIT) - Sloan School of Management, University of St. Gallen - School of Finance, EBS Universität für Wirtschaft und Recht and Radboud University, Institute for Management Research
Downloads 4,973 (3,190)
Citation 35

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responsible investing, social impact, externalities, scope neglect, pro-social preferences, behavioral finance

7.

Ask BERT: How Regulatory Disclosure of Transition and Physical Climate Risks affects the CDS Term Structure

Swiss Finance Institute Research Paper No. 21-19, Journal of Financial Econometrics, forthcoming
Number of pages: 55 Posted: 15 Jul 2020 Last Revised: 06 Jul 2022
Julian F Kölbel, Markus Leippold, Jordy Rillaerts and Qian Wang
University of St. Gallen - School of Finance, University of Zurich, University of Zurich - Department of Banking and Finance and University of Zurich - Department of Banking and Finance
Downloads 3,062 (7,184)
Citation 4

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climate risk disclosure, CDS spreads, 10-K filings, physical risks, transition risks, BERT model.

8.

Let’s Get Physical: Comparing Metrics of Physical Climate Risk

Number of pages: 17 Posted: 20 Apr 2021 Last Revised: 17 Jun 2021
Linda Isabella Hain, Julian F Kölbel and Markus Leippold
University of Zurich - Department of Banking and Finance, University of St. Gallen - School of Finance and University of Zurich
Downloads 1,058 (36,535)
Citation 11

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Climate change, physical risk scores, disagreement, model uncertainty

9.

Is Sustainable Finance a Dangerous Placebo?

Swiss Finance Institute Research Paper No. 23-46
Number of pages: 74 Posted: 22 Jun 2023 Last Revised: 10 Nov 2023
Florian Heeb, Julian F Kölbel, Stefano Ramelli and Anna Vasileva
Massachusetts Institute of Technology (MIT) - Sloan School of Management, University of St. Gallen - School of Finance, University of St. Gallen - School of Finance and University of Zurich - Department of Banking and Finance
Downloads 796 (55,176)

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Behavioral Finance, Climate Change, ESG, Externalities, Sustainable Finance, Political Economy, Voting Behavior

10.

Bounding the Impact of Hazard Interdependence on Climate Risk

Swiss Finance Institute Research Paper No. 23-26
Number of pages: 49 Posted: 25 Apr 2023 Last Revised: 28 Apr 2023
Linda Isabella Hain, Julian F Kölbel and Markus Leippold
University of Zurich - Department of Banking and Finance, University of St. Gallen - School of Finance and University of Zurich
Downloads 450 (111,180)

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Extreme Risks, Natural Catastrophes, Climate Change, Tail Risk, Dependence Uncertainty, Infinite Mean, Physical Climate Risk, Expected Shortfall