Philipp Krüger

Curriculum Vitae

Contact details
University of Geneva
Geneva School of Economics and Management
Geneva Finance Research Institute
UNIMAIL,Bd du Pont d'Arve 40
1211 Geneva 4
Switzerland
Tel.: +41-(0)22-3798569
philipp(dot)krueger(at)unige(dot)ch

Publications

Corporate Goodness and Shareholder Wealth, Journal of Financial Economics, 2015
BSI Gamma Foundation Grant “Socially Responsible Investing,” 2011
#2 Most Cited Article in the Journal of Financial Economics (2015-2024, Google Scholar)  

The WACC Fallacy: The Real Effects of Using a Unique Discount Rate, with Augustin Landier and David Thesmar, The Journal of Finance, 2015
EFMA Larry Lang Corporate Finance Best Paper Award, 2011
Financial Management Association Annual Meetings 2011, Best Paper in Corporate Finance, Semi Finalist

Sticky Expectations and the Profitability Anomaly, with Jean-Philippe Bouchaud, with Augustin Landier, and David Thesmar, The Journal of Finance, 2019
Financial Management Association Annual Meetings 2017, Best paper in Investments, Semi Finalist 

The Importance of Climate Risk for Institutional Investors, with Zacharias Sautner and Laura Starks, The Review of Financial Studies, 2020
ICPM Climate Change Research Award
#8 Most Cited Article in the Review of Financial Studies (2017-2021)
#3 Most Cited Article (2020-2024, Google Scholar)
Cited in IMF’s Global Financial Stability Report (April 2020), ECB’s Financial Stability Review (May 2021), and speeches by central bankers (Bundesbank President Dr. Weidmann or SNB Board Member Dr. Maechler)
Cited in Proposed Rule Change "The Enhancement and Standardization of Climate-Related Disclosures for Investors"  by Securities and Exchange Commission (Link)
Cited by in Final Rules Regarding Mandatory Climate Risk Disclosures, March 2024 (Link)

ESG Rating Disagreement and Stock Returns, with R. Gibson Brandon and P.  Schmidt, Financial Analysts Journal, 2021

Top 30 All Time Most Read Articles Financial Analysts Journal
Most cited article published in the FAJ (2021-2024, Scopus)

Do Responsible Investors Invest Responsibly?, with R. Gibson-Brandon , S. Glossner, P. Matos, and T. Steffen),  Review of Finance, 2022

John L. Weinberg/IRRCi Research Paper Award (semi-finalist)
Fordham Gabelli - PVH Corp Global Thought Leadership Grant
ICPM Research Award
Cited in a statement by SEC Commissioner Caroline A. Crenshaw (Link)
Coverage in The Economist (Link)

How Do Investors and Firms React to a Large, Unexpected Currency Appreciation Shock?, with Matthias Efing, Ruediger Fahlenbrach, and Christoph Herpfer, The  Review of Corporate Finance Studies, 2023

Climate Risk Disclosure and Institutional Investors, with E. Ilhan, Z. Sautner, and L. Starks, The Review of Financial Studies, 2023
Finalist John L. Weinberg/IRRCi Research Award Competition 2022
Cited in Proposed Rule Change "The Enhancement and Standardization of Climate-Related Disclosures for Investors"  by Securities and Exchange Commission (Link)
Editor’s Choice Paper/Lead Article
Cited by SEC Chair Gary Gensler in Statement in Final Rules Regarding Mandatory Climate Risk Disclosures, March 2024 (Link)
Cited by in Final Rules Regarding Mandatory Climate Risk Disclosures, March 2024 (Link)

ESG News, Future Cash Flows, and Firm Value?, with F. Derrien, A. Landier, and T. Yao, The  Journal of Finance, conditionally accepted
SFS Cavalacade 2022, AFA 2023

The Effects of Mandatory ESG Disclosure Around the World, with Z. Sautner, D. Tang, and R. Zhong, Journal of Accounting Research, conditionally accepted
AFA 2022
Best Paper Price 2021 Global Research Alliance for Sustainable Finance (GRASFI)
Financial Times - Business School Sustainability Research: What is read most?  #3 most downloaded paper on sustainability on SSRN since 2020 (Link)
Cited by in Final Rules Regarding Mandatory Climate Risk Disclosures, March 2024 (Link)

Working Papers 

Green Revenus (with J. Klausmann, P. Matos)

Drawing Up the Bill: Are ESG Ratings Related to Stock Returns Around the World? (with R. Alves and M.A. van Dijk)

The Economics of Sustainability Linked Bonds (with T. Berrada, L. Engelhardt, and R. Gibson Brandon)
Fidelity Best Paper Award at the SGFIN Annual Research Conference on Sustainability 2023

Decarbonizing Institutional Investor Portfolios (with V. Atta-Darkua, S. Glossner, and P. Matos)
AFA, 2024, GIWM research grant, 2023
Best Paper Award Portuguese Finance Network Conference, 2023

Discretionary Information in ESG Investing: A Text Analysis of Mutual Fund Prospectuses (with A. Andrikogiannopoulou, S. Mitali, and F. Papakonstantinou)
GIWM research grant, 2021

The Sustainability Wage Gap (with Metzger and Wu)
ECGI GCGC 2021, EFA 2021, AFA 2022
Best Conference Paper EFA 2021, Runner up
Featured in the FT (Link)

Mandatory Corporate Carbon Disclosure: Evidence from a Natural Experiment (with V. Jouvenot)
AFA 2021
Cited in Proposed Rule Change "The Enhancement and Standardization of Climate-Related Disclosures for Investors"  by Securities and Exchange Commission (Link)
Cited by in Final Rules Regarding Mandatory Climate Risk Disclosures, March 2024 (Link)

The Sustainability Footprint of Institutional Investors: ESG Driven Price Pressure and Performance  (with Gibson Brandon and Mitali)
Best quantitative paper, Principles for Responsible Investment (PRI) Academic Network Conference 2017
Financial Management Association Annual Meetings 2018, Best Paper in Investments, Semi Finalist

Climate Change and Firm Valuation: Evidence from a Quasi-Natural Experiment
AFA 2016
Moskowitz Prize in Socially Responsible Investing 2015  (Link)
Financial Management Association Annual Meetings 2016, Best Paper in Corporate Finance, Semi Finalist

Social Responsibility and the Board of Directors 

Best Paper Award Principles for Responsible Investment (PRI) Academic Conference, 2010

Philipp Krueger, Philipp Kruger, Sustainable finance, ESG, CLimate finance, SRI