Papal Dividends: Do Pope’s Political Positions Move Economic Markets?

• In Event: Investing Globally, Influencing Locally: How Capital Mobility Affects Local Markets

Brief Overview

We study the effect of the Pope’s encyclicals for stakeholders involved in the issues addressed. We study the effect of Pope Francis’s 2016 climate encyclical on the stocks of renewable energy companies and show that it caused them to lose value.

Authors

• Lorenzo Crippa, University of Essex

• Federica Genovese, University of Essex