FIN41920 Sustainable Finance Group Project 2025 The purpose of this project is to evaluate the ability of applying US toxic emission data and accounting data to analyse the effect of toxic emissions on firms’ financial performance. Here are the recommended instructions: ➢ Each group should decide whether to use Stata or R to complete the work. ➢ You are required to download the Toxics Release Inventory (TRI) Basic Data from 1987 to 2010. The US accounting data and linktable have been provided on Brightspace for your use. Both files are in .csv format. ➢ Use the linktable to merge TRI data and US accounting data. Both data files have the same company ID and year information which shall be used. ➢ Calculate the variables of firm size, operating leverage, tangibility, investment rate, return on equity (ROE), total emissions and emission intensity. For the variable definitions, please check the pollution premium paper for reference. ➢ Perform the summary statistics for the above variables, i.e., the number of observations, mean, standard deviation, minimum value, median, and maximum value. ➢ Use OLS analyses to regress financial performance (ROE) on emission intensity and control for the variables of firm size, operating leverage, tangibility, investment rate, year and firm fixed effects. ➢ Output the regression table and identify the relationship between emission intensity and financial performance. Discuss the statistical significance of estimated coefficient of emission intensity in the context. ➢ Write a comprehensive代写FIN41920 Sustainable Finance report documenting each step, from data curation to the final model analysis. Include R or Stata code snippets, figures, tables, and a discussion of results and diagnostics. Conclude with reflections on main findings and any limitations encountered. The word limit is 1,500 (-/+10%) that excludes code snippets, figures, tables and references. ➢ During the 15-minute presentation, you should walk through all the steps, the corresponding codes and findings. The report, final dataset and coding files must be submitted to Brightspace before the deadline. ➢ Only one member of the group shall make the submission to Brightspace. ➢ During the presentation, three random questions will be asked that must be answered. Please ensure that every member is thoroughly familiar with the work. Failure to answer any question will result in the deduction of one mark per missed question. ➢ Submission Deadline is 21st March 11:00 pm. All group presentations will take place in the class in 27th March.
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