Research | Karoline Bax

Working Papers

Bax, K. & Cehajic, A. (2025) The Role of Biodiversity Risk in Shaping Bank Lending Decisions.
Bax, K., Fulci, A., Paterlini, S. & Taufer, E. (2025). Generalized Precision Matrices for Non-Gaussian Distributions: Theory and Portfolio Applications.

A complete list of publications is available on Google Scholar. Selected recent publications are listed below.

Benuzzi, M., Bax, K., Paterlini, S. & Taufer, E. (in press). Chasing ESG performance: How Methodologies Shape Outcomes. International Review of Financial Analysis. DOI: 10.1016/j.irfa.2025.104239
Bax K., Broccardo, E., Paterlini S. (2024), ESG factor and financial returns: what is the relationship? Investigating ESG Factor Models. Current Opinion in Environmental Sustainability, 66 (Feb. 2024, 101398). DOI: 10.1016/j.cosust.2023.101398.
Bax K., Bonaccolto, G., Paterlini, S. (2024), Spillovers in Europe: the Role of ESG. Journal Financial Stability, 72(2024, 101221). DOI: 10.1016/j.jfs.2024.101221.
Benuzzi, M., Klaser, K., Bax, K. (2024), Which ESG+F dimension matters most to retail investors? An experimental study on financial decisions and future generations. Journal of Behavioral and Experimental Finance, 41(2024, 100882). DOI: 10.1016/j.jbef.2023.100882.
Bax K., Müller S., Paterlini S. (2023), Sustainability Transmission through Focal Nodes in Supply Chain Networks. Finance Research Letters, 58(Part C, December 2023, 104476). DOI: 10.1016/j.frl.2023.104476.