Financial Research

Mispricing Climate Risk: How Insurance Fragility Shapes Mortgage Markets

A person's professional headshot on the left, with text on the right that reads, "Parinitha Sastry, Assistant Professor of Finance at Wharton. On “When Insurers Exit: Climate Losses, Fragile Insurers, and Mortgage Markets” Professor Parinitha Sastry and her co-authors Ishita Sen and Ana-Maria Tenekedjieva won the 2025 Marshall Blume Prize in Financial Research for their working paper, "When Insurers Exit: Climate Losses, Fragile Insurers, and Mortgage Markets." Their study examines how mispricing of climate risk in mortgages and property insurance creates large taxpayer…Read More

One Year of Discoveries

Sean Myers stands in a sunlit room with hands in his pockets Over the past year, the Discoveries blog has hosted exclusive interviews with Wharton's leading finance faculty. These insightful conversations highlight key insights and research shaping the finance industry, many of these projects having been supported by Wharton's finance research centers. Topics include the nature of growth stocks, international USD holdings,…Read More

“Carbon Burden” and Firms’ Value to Society

Professors Luke Taylor and Robert Stambaugh How much of a firm’s value to society is hidden by traditional financial metrics? In this interview, Professors Robert Stambaugh and Luke Taylor dive into their study, "Carbon Burden," which is part of the Jacobs Levy Center's working paper series. This paper aims to quantify the U.S. corporate sector’s carbon…Read More