Als Vortragenden dürfen wir Youchang Wu (Lundquist College of Business, University of Oregon) begrüßen.

Er wird sein Paper "Private Equity and Gas Emissions: Evidence from Electric Power Plants" (Co-Autor Xuanyu Bai) vorstellen.

Abstract: How does private equity ownership affect firms’ environmental performance? Using electricity generating unit level data from U.S. fossil fuel power plants, we find that private equity-backed buyouts reduce output-scaled CO2 and NOx emissions by 5.5% and 8.1%, respectively. The declines are mainly due to lower heat input per unit of output instead of lower input emission rates. The effects are concentrated in non-add-on deals, and are stronger for small plants and corporate divestiture deals. Our results suggest that private equity improves environmental performance by increasing production efficiency, but their effect on the non-efficiency component of environmental performance is generally insignificant.

Das Brown Bag Seminar findet am 8. September 2023 von 12:30-13:30 Uhr im Raum D3.0.225 statt.