Lin Ma

Lin Ma
Current Position

since 10/21

Economist in the Department of Laws, Regulations and Factor Markets

Halle Institute for Economic Research (IWH) – Member of the Leibniz Association

Research Interests

  • corporate finance
  • financial intermediation
  • investment management

Lin Ma joined the Department of Laws, Regulations and Factor Markets as a doctoral student in October 2021. His research focuses on corporate finance, financial intermediation, and investment management.

Lin Ma received his bachelor's degree from McGill University and his master's degree from Copenhagen Business School.

Your contact

Lin Ma
Lin Ma
- Department Laws, Regulations and Factor Markets
Send Message +49 345 7753-880

Working Papers


Out of Sight, out of Mind: Divestments and the Global Reallocation of Pollutive Assets

Tobias Berg Lin Ma Daniel Streitz

in: SSRN Working Papers, 2023


Large emitters reduced their carbon emissions by around 11-15% after the 2015 Paris Agreement (“the Agreement”) relative to public firms that are less in the limelight. We show that this effect is predominantly driven by divestments. Large emitters are 9 p.p. more likely to divest pollutive assets in the post-Agreement period, an increase of over 75%. This divestment effect comes from asset sales and not from closures of pollutive facilities. There is no evidence for increased engagements in other emission reduction activities. Our results indicate significant global asset reallocation effects after the Agreement, shifting emissions out of the limelight.

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