Active Depositors
Mikael Homanen
Do households react to negative non-financial and climate related information about their financial institutions? Using branch level data for the United States, I show that banks that financed the highly controversial Dakota Access Pipeline experienced significant decreases in deposit growth. These effects were greater in localities with higher support for the protests and higher environmental awareness. Data suggests that locally oriented banks were among the main beneficiaries of this depositor movement. Overall, this paper adds significantly to our understanding on the non-financial preferences of household financial investment decisions and climate finance debate.
Media – 1) Financial Times 2) Chicago Booth ProMarket 3) VoxEU 4) Tax Justice Network 5) BankTrack 6) BankTrack Newsletter 7) S&P Global 8) 20Min
Videos – 1) Federal Reserve Bank of St. Louis 2) European Commission
Paper – 1) Active Depositors – Journal of Banking & Finance
Conference and Seminar Presentations – 2019 ASSA, European Commission Conference on Promoting Sustainable Finance (Belgium), 2019 Chicago Financial Institutions Conference (US), Southwestern Finance Association 2019 Conference (US), Chicago Booth Economics of Social Sector Organizations Conference (US), SAFE conference on Sustainable Architecture for Finance (Germany), Geneva Summit on Sustainable Finance (Switzerland), The Federal Reserve’s sixth annual Community Banking in the 21st Century research and policy conference (US), PRI Academic Network Conference (US), Inaugural Conference, Global Research Alliance for Sustainable Finance and Investment (the Netherlands), Chicago Booth Stigler Center Political Economy of Finance 2018 (US), 2019 AFA Atlanta Poster Session (US), 25th Global Finance Conference (France), European Financial Management Association 2018 Annual Meeting (Italy), 5th Sussex Young Finance Scholars Conference (UK), Cass Research Days (UK), 6th International Symposium on Environment & Energy Finance Issues (France), the 35th Annual Conference of the French Finance Association (France), ETHOS (UK), the Wharton School (US), MIDAs (US), Cass Business School (UK) and Tilburg University (the Netherlands)
Mikael Homanen 