Date: 29 April 2026, Wednesday
Time: 10.30 – 11.30
Place: MA-330
“The Green Transition: Evidence from Corporate Green Revenues”
by
Philipp Krueger
University of Geneva
Abstract
We introduce a novel measure of revenues from green products and services for publicly listed firms worldwide that is not spanned by prior sustainability metrics used in the literature. We show that green revenues grew at an accelerated pace after the Paris Agreement. This growth has been driven by innovative US companies converting green patents into green revenues, as well as by firms with higher sustainability-focused institutional ownership before the Paris Agreement. Furthermore, we examine the stock returns of firms with green revenues and find modest evidence of a green alpha in the post-Paris period, primarily concentrated in US stocks.
Bio
Philipp Krüger is a Professor of Finance at the University of Geneva and holds a Senior Chair at the Swiss Finance Institute. He studied economics and finance in Germany, the United States, France, and the United Kingdom and graduated with a PhD in Economics (Summa cum laude) from the Toulouse School of Economics in 2010.
His research has been published in the leading scientific and professional journals in finance and accounting. Several of his papers have been among the most cited finance papers published in the recent past. For example, a paper on ESG rating disagreement is the most cited paper published in the Financial Analyst Journal since 2021. His research has also been featured in the financial press (e.g., Financial Times or The Economist) and is often referenced by central bankers and financial markets regulators around the world.
Besides his research activities, Professor Krüger is also involved in the finance industry. For instance, he serves on the board of experts for Inrate AG in Zurich and advises one of the largest Swiss banks on ESG investing.