Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/272154 
Year of Publication: 
2023
Citation: 
[Journal:] EconPol Forum [ISSN:] 2752-1184 [Volume:] 24 [Issue:] 1 [Year:] 2023 [Pages:] 31-34
Publisher: 
CESifo GmbH, Munich
Abstract: 
Environmental technologies threaten dirty legacy portfolios of external financiers. "Asset overhang" refers to an investor's incentive not to finance disruptive green firms in an attempt to protect exposed legacy positions. Empirically, asset overhang renders green disruptors up to 4.4 percentage points less likely to receive external finance. The presence of financiers with low asset overhang trigger systemwide incentives to fund green firms. Limited policy interventions aimed at reducing such overhang can alleviate financial barriers to the green transition
Document Type: 
Article

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.