Aaron Yoon
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Aaron Yoon

Assistant Professor of Accounting & Information Management

Kellogg Faculty Page →

Do Green Bonds Actually Lead to Rosy Returns?

And are the companies that issue them truly addressing climate issues? New research investigates.

Researchers: Aaron Yoon and Sanjai Bhagat

Podcast: The Complicated Promise of ESG

On this episode of The Insightful Leader: Are companies as socially responsible as they claim? And how much should investors care?

Researchers: Aaron Yoon

February 5, 2024

ESG Risks Can Lurk in Supply Chains, Too

Most companies know little of their suppliers’ ESG practices. But negative incidents can sway stock prices—and investors should take note.

Researchers: Xuanpu Lin, Guoman She, Aaron Yoon and Haoran Zhu

January 23, 2024

Finance & Accounting

What Is the Purpose of a Corporation Today?

Has anything changed in the three years since the Business Roundtable declared firms should prioritize more than shareholders?

Researchers: Aaron Yoon, Ravi Jagannathan, Carola Frydman, Robert Korajczyk and José Maria Liberti

January 17, 2023

Finance & Accounting

Who Does a Better Job with ESG ratings, Global or Local Research Firms?

Sometimes, global raters miss important nuances about a firm’s environmental, social, and governmental activities.

Researchers: Jeff Chen, Zengquan Li, Ting Mao and Aaron Yoon

January 1, 2023

5 Takeaways on the State of ESG Investing

ESG investing is hot. But what does it actually deliver for society and for shareholders?

Researchers: Aaron Yoon

December 20, 2022

Finance & Accounting

Investors Are Eager for Accurate ESG Information. Can Financial Analysts Provide It?

Analysts aren’t traditionally steeped in ESG, but they do have deep knowledge of the companies they cover.

Researchers: Min Pak, Aaron Yoon and Tzachi Zach

November 1, 2022

Finance & Accounting

Take 5: What Good Does It Do a Company to Do Good?

Kellogg faculty look at how ESG initiatives are received by investors, customers, and employees.

Researchers: Aaron Yoon, Ravi Jagannathan, Jacob D. Teeny, Alexander Chernev, Brayden King and and coauthors

January 4, 2022

Finance & Accounting

Does Positive ESG News Help a Company’s Stock Price?

A comprehensive new study finds that investors reward some—but not all—efforts.

Researchers: George Serafeim and Aaron Yoon

August 2, 2021

Finance & Accounting

How Useful Are ESG Ratings for Sustainable Investors?

These ratings are proliferating. Now there may be a better way to assess them.

Researchers: George Serafeim and Aaron Yoon

March 25, 2021

Finance & Accounting

Some Companies Actually Do See Financial Returns on Their Social Investments. Here’s What They Have in Common.

A new study finds that ESG investments—when paired with high employee satisfaction—boost stock performance.

Researchers: Kyle Welch and Aaron Yoon

June 9, 2020

Social Impact

Many Funds Have Committed to Socially Responsible Investing—But Few Are Following Through

As money flows into ESG funds, new evidence shows that most asset managers aren’t actually changing their investment behaviors.

Researchers: Soohun Kim and Aaron Yoon

March 18, 2020

Finance & Accounting

Is Maximizing Shareholder Value a Thing of the Past?

Top CEOs recently “redefined” the purpose of a corporation. Kellogg faculty weigh in.

Researchers: Carola Frydman, Ravi Jagannathan, Robert Korajczyk, José Maria Liberti and Aaron Yoon

September 19, 2019

Finance & Accounting

How Chinese Businesses Establish Credibility with Foreign Investors

Where contract law is lax, investment banks step in to vet companies.

Researchers: Aaron Yoon

February 5, 2019

Finance & Accounting

Does It Pay Off to Invest in Companies That Engage in Sustainable Practices?

New research helps to quantify the value of “ESG” initiatives.

Researchers: Mozaffar Khan, George Serafeim and Aaron Yoon

November 6, 2018

Social Impact