Nikos Paltalidis

@conference{paltalidis_4145,

title = {Political Lobbying and Firms' Decoupling},

author = {Nikos Paltalidis and Vangelis Souitaris and Geoff Wood},

url = {http://www.hfaa.gr/wp-content/uploads/2025/12/program-2025-%CE%A4%CE%95%CE%9B%CE%99%CE%9A%CE%9F.-.pdf},

year  = {2025},

date = {2025-12-01},

booktitle = {Hellenic Finance and Accounting Association},

address = {Athens, Greece},

abstract = {We present empirical evidence that intensive corporate lobbying functions as a powerful mechanism and channel for firms to maintain or increase Scope 1 carbon emissions while publicly claiming ambitious climate targets, effectively engaging in environmental deceptive decoupling. An increase in political lobbying intensity is associated with substantially higher emissions the following year. Using a novel deep learning model that extracts and quantifies carbon-emission commitments and target-achievement claims directly from firms' quarterly earnings-call transcripts, we show that political lobbying is one of the strongest negative predictors of actually meeting either rigorous third-party (MSCI-rated) or self-reported climate targets, reducing fulfillment probability by up to 54 percentage points. We also find that Democratic presidencies sharply reduce economy-wide emissions intensity and amplify the effectiveness of genuine target achievement, yet politically active firms respond by intensifying their decoupling precisely when regulatory threat is highest. In contrast, higher institutional ownership strongly promotes target fulfillment of real emissions reductions. Framing these patterns through deceptive decouple-induced rent-seeking theory, we argue that firms expend resources on lobbying not for productive innovation but to secure regulatory protection that allows them to preserve profits by avoiding costly decarbonization, undermining climate policy and distorting competition, while eroding trust in corporate climate commitments.},

note = {December 19-20, 2025 in Athens Greece},

keywords = {},

pubstate = {published},

tppubtype = {conference}

}

@conference{paltalidis_4143,

title = {Rare Disasters and Bank Lending},

author = {Nikos Paltalidis and Dimitrios Gounopoulos and Dimitrios Konstantios and Panayotis Michaelide},

url = {https://pages.aueb.gr/conferences/Crete2025/#program},

year  = {2025},

date = {2025-07-01},

booktitle = {23rd Conference in Research in Econometric Theory and Economics},

address = {Tinos, Greece},

abstract = {We examine what incentivizes firms to increase climate risk exposure. Using a difference-in-differences identification we show that contractionary monetary policy raises the cost of capital, leading firms -especially those with high climate risk exposure in the U.S. and the E.U.- to increase their climate risk exposure and reduce new investments. This counterproductive policy slows the speed of adjustment towards an optimal investment level, though its effect is milder for green firms. We also develop a new measure of central banks' guidance employing a deep learning model to capture its impact on firms' climate risks exposure. When central banks provide proactive guidance for climate risk issues and communicate a positive economic outlook, they induce firms to lower their climate risk exposure and increase new investments. The European Central Bank's forward-looking stance proves more effective than the Federal Reserve's reactive approach in encouraging firms to mitigate climate risks.},

note = {July 07-11, 2025},

keywords = {},

pubstate = {published},

tppubtype = {conference}

}

@conference{paltalidis_4144,

title = {Monetary Policy and Firms' Climate Risk-Taking Incentives},

author = {Nikos Paltalidis and Dimitrios Gounopoulos and Dimitrios Konstantios},

url = {https://sites.google.com/view/bcssfinance/program},

year  = {2025},

date = {2025-06-01},

booktitle = {Brunel University Conference: "Social and Sustainable Finance: Bridging Methods, Policy and Practice"},

address = {Brunel, UK},

abstract = {We examine what incentivizes firms to increase climate risk exposure. Using a difference-in-differences identification we show that contractionary monetary policy raises the cost of capital, leading firms -especially those with high climate risk exposure in the U.S. and the E.U.- to increase their climate risk exposure and reduce new investments. This counterproductive policy slows the speed of adjustment towards an optimal investment level, though its effect is milder for green firms. We also develop a new measure of central banks' guidance employing a deep learning model to capture its impact on firms' climate risks exposure. When central banks provide proactive guidance for climate risk issues and communicate a positive economic outlook, they induce firms to lower their climate risk exposure and increase new investments. The European Central Bank's forward-looking stance proves more effective than the Federal Reserve's reactive approach in encouraging firms to mitigate climate risks.},

note = {23-24 June 2025},

keywords = {},

pubstate = {published},

tppubtype = {conference}

}

@conference{iyer_4246,

title = {Canary in the Coal Mine: Bank Liquidity Shortages and Local Economic Activity},

author = {Rajkamal Iyer and Shohini Kundu and Nikos Paltalidis},

url = {https://efa2024.efa-meetings.org/program/},

year  = {2024},

date = {2024-08-01},

booktitle = {51st European Finance Assocation Annual Meeting},

address = {Bratislava, Slovakia},

abstract = {This paper investigates the relation between bank liquidity and local economic activity. We

find that an increase in deposit rates offered by banks within a geographic region is associated

with contractions in economic activity. As a region heads to an economic downturn,

deposit growth slows down, prompting banks to increase deposit rates to support their

balance sheet. This increase in deposit rates reflects the liquidity squeeze experienced by

banks due to deteriorating economic conditions, which in turn serves as an indicator of an

impending economic contraction},

keywords = {},

pubstate = {published},

tppubtype = {conference}

}

@conference{iyer_4249,

title = {Canary in the Coal Mine: Bank Liquidity Shortages and Local Economic Activity},

author = {Rajkamal Iyer and Shohini Kundu and Nikos Paltalidis},

url = {https://cepr.org/events/12th-european-banking-center-conference-2nd-tilburg-finance-summit},

year  = {2024},

date = {2024-06-01},

booktitle = {Financial Intermediation},

address = {Tilburg, Netherlands},

abstract = {This paper investigates the relation between bank liquidity and local economic activity. We

find that an increase in deposit rates offered by banks within a geographic region is associated

with contractions in economic activity. As a region heads to an economic downturn,

deposit growth slows down, prompting banks to increase deposit rates to support their

balance sheet. This increase in deposit rates reflects the liquidity squeeze experienced by

banks due to deteriorating economic conditions, which in turn serves as an indicator of an

impending economic contraction},

note = {21 Jun 2024},

keywords = {},

pubstate = {published},

tppubtype = {conference}

}

@conference{iyer_4244,

title = {Canary in the Coal Mine: Bank Liquidity Shortages and Local Economic Activity},

author = {Rajkamal Iyer and Shohini Kundu and Nikos Paltalidis},

url = {chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://www.efmaefm.org/0EFMAMEETINGS/EFMA%20ANNUAL%20MEETINGS/2024-Lisbon/papers/Canary_in_the_Coal_Mine__Bank_Liquidity_Squeezes_Kundu.pdf},

year  = {2024},

date = {2024-06-01},

booktitle = {European Financial Management Association},

address = {Lisbon, Portugal},

abstract = {This paper investigates the relation between bank liquidity and local economic activity. We f ind that an increase in deposit rates offered by banks within a geographic region is associated with contractions in economic activity. As a region heads to an economic downturn, deposit growth slows down, prompting banks to increase deposit rates to support their balance sheet. This increase in deposit rates reflects the liquidity squeeze experienced by banks due to deteriorating economic conditions, which in turn serves as an indicator of an impending economic contraction.},

note = {June 26-29, 2024},

keywords = {},

pubstate = {published},

tppubtype = {conference}

}

@conference{iyer_4245,

title = {Canary in the Coal Mine: Bank Liquidity Shortages and Local Economic Activity},

author = {Rajkamal Iyer and Shohini Kundu and Nikos Paltalidis},

url = {https://onlinelibrary.wiley.com/doi/10.1111/jofi.13305},

year  = {2024},

date = {2024-01-01},

booktitle = {AFA 2024 ANNUAL MEETING EIGHTY-FOURTH ANNUAL MEETING AMERICAN FINANCE ASSOCIATION},

address = {San Antonio, USA},

abstract = {This paper investigates the relation between bank liquidity and local economic activity. We f ind that an increase in deposit rates offered by banks within a geographic region is associated with contractions in economic activity. As a region heads to an economic downturn, deposit growth slows down, prompting banks to increase deposit rates to support their balance sheet. This increase in deposit rates reflects the liquidity squeeze experienced by banks due to deteriorating economic conditions, which in turn serves as an indicator of an impending economic contraction.},

keywords = {},

pubstate = {published},

tppubtype = {conference}

}

@conference{iyer_4248,

title = {Canary in the Coal Mine: Bank Liquidity Shortages and Local Economic Activity},

author = {Rajkamal Iyer and Shohini Kundu and Nikos Paltalidis},

url = {https://www.eea-esem-congresses.org/pastcongresses},

year  = {2023},

date = {2023-08-01},

booktitle = {European Economic Association},

address = {Barcelona},

abstract = {This paper investigates the relation between bank liquidity and local economic activity. We

find that an increase in deposit rates offered by banks within a geographic region is associated

with contractions in economic activity. As a region heads to an economic downturn,

deposit growth slows down, prompting banks to increase deposit rates to support their

balance sheet. This increase in deposit rates reflects the liquidity squeeze experienced by

banks due to deteriorating economic conditions, which in turn serves as an indicator of an

impending economic contraction},

keywords = {},

pubstate = {published},

tppubtype = {conference}

}

@conference{iyer_4247,

title = {Canary in the Coal Mine: Bank Liquidity Shortages and Local Economic Activity},

author = {Rajkamal Iyer and Shohini Kundu and Nikos Paltalidis},

url = {https://www2.aueb.gr/conferences/Crete2023/},

year  = {2023},

date = {2023-07-01},

booktitle = {Conference in Research in Economic Theory and Econometrics},

address = {Naxos, Greece},

abstract = {This paper investigates the relation between bank liquidity and local economic activity. We

find that an increase in deposit rates offered by banks within a geographic region is associated

with contractions in economic activity. As a region heads to an economic downturn,

deposit growth slows down, prompting banks to increase deposit rates to support their

balance sheet. This increase in deposit rates reflects the liquidity squeeze experienced by

banks due to deteriorating economic conditions, which in turn serves as an indicator of an

impending economic contraction},

keywords = {},

pubstate = {published},

tppubtype = {conference}

}