Andreas Marcel Oestreich
ifo/CESifo Visiting Researcher
Andreas Marcel Oestreich, Brock University, CESifo Guest from 6 to 19 May 2019.
Emissions and profitability
In a recent paper, Andreas Marcel Oestreich has determined that based on the reported carbon emissions and profitability of the S&P 500 firms in the US, the empirical cross-sectional relation between emissions and profitability is strongly negative. That is, firms with high carbon emissions tend to have the lowest profitability and vice versa. These findings may have important implications for investment practitioners, research academics and policy makers alike.
Marcel Oestreich’s research examines the impacts of market-based environmental policies on the strategic behavior and profits of regulated firms from various perspectives. His research agenda is organized into two main themes: 1) enforcement of environmental regulation and 2) carbon emissions and firm profitability. The first theme is more theoretical in nature. It applies partial equilibrium models from the fields of industrial organization and game theory to answer essential questions in environmental economics. The second theme is more empirical in nature. It applies quantitative methods from empirical finance and nonparametric econometrics to answer the question of the impact of environmental regulation on a firm’s bottom line.
Mr Oestreich is specialized in the fields of environmental economics, carbon finance and applied game theory. He has published research papers in leading academic journals, including the Journal of Environmental Economics and Management, Environmental and Resource Economics, the Journal of Banking and Finance and the Journal of Regulatory Economics. His current research is supported by the Canadian Social Sciences and Humanities Research Council (SSHRC) through the project “Carbon Emissions and Global Financial Markets”.
Marcel Oestreich is an Assistant Professor at the Department of Economics of Brock University in Ontario, Canada. He obtained his PhD in Economics from the University of Guelph, his Masters in Economics from York University and his Diplom in Economics from the University of Cologne.
