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Essays in Financial Economics /

Record Type:	Electronic resources : Monograph/item
Title/Author:	Essays in Financial Economics /May Lyn Cheah.
Author:	Cheah, May Lyn,
Description:	1 electronic resource (159 pages)
Notes:	Source: Dissertations Abstracts International, Volume: 87-07, Section: A.
Notes:	Advisors: Garmaise, Mark J. Committee members: Chernov, Mikhail; Hartman-Glaser, Barney P.; Schubert, Gregor.
Contained By:	Dissertations Abstracts International87-07A.
Subject:	Finance.
Online resource:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=32443225
ISBN:	9798273396623

Essays in Financial Economics /
Cheah, May Lyn,

Essays in Financial Economics /May Lyn Cheah. - 1 electronic resource (159 pages)

Source: Dissertations Abstracts International, Volume: 87-07, Section: A.

This dissertation examines how regulatory shocks, information transmission, and policy uncertainty affect financial markets across three distinct settings. In Chapter 1, I study the financial market response to the SEC's proposed climate disclosure rule announced on March 21, 2022. Using an event study, I document that firms with high environmental scores experienced negative abnormal returns while low-scoring firms earned positive returns. ESG mutual funds exhibited a similar pattern, reallocating capital toward environmental laggards in the post-announcement quarter. These results suggest investors interpreted the Scope 3 mandate as a regulatory equalizer that erodes the advantage of voluntary disclosure leaders.In Chapter 2, I examine whether sentiment expressed by social media influencers propagates through follower networks to affect housing prices. Using 1.2 million real estate-related tweets from the 50 most populous U.S. cities, I find that influencer sentiment predicts city-level housing price changes and transmits to engaged connections who have directly replied to the influencer. This transmission is unidirectional: influencer sentiment predicts follower sentiment, but not the reverse. An instrumental variables strategy exploiting geographic variation in influencer-follower relationships confirms that influencer sentiment causally propagates to their followers in other markets.In Chapter 3, I investigate whether policy uncertainty affects cleantech venture funding by exploiting the unexpected 2016 U.S. presidential election outcome as an exogenous shock. Using deal-level data covering 83,496 U.S. venture capital deals from 2010 to 2021, I employ a difference-in-differences framework and find that cleantech deals received approximately 23% less funding during the Trump administration relative to non-cleantech deals. The effect appeared immediately following the election and largely persisted throughout the administration. Overall, these chapters contribute to the literatures on ESG investing, disclosure regulation, investor sentiment, social information networks, and the role of policy uncertainty in shaping capital allocation.

English

ISBN: 9798273396623Subjects--Topical Terms:

183252
Finance.
Subjects--Index Terms:

Social information networks

Essays in Financial Economics /
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