Jury

My thesis aims to assess the validity of the ‘sin stock anomaly’ by observing whether sin stocks are traded on a sin premium and whether they are recession-resilient. Integrating quantitative data analysis, I compared the monthly returns of sin stocks to stocks to comparable stocks in the consumer industry over 60 years to determine whether a unique sin component drives their performance. The results indicate that sin stocks exhibit significant premiums during expansions but do not consistently outperform during recessions. However, the research also reveals different characteristics of stocks in the gambling, tobacco, and alcohol industries.

The thesis investigates the impact of the EU Carbon Border Adjustment Mechanism (CBAM) on African countries’ exports to the European Economic Area (EEA). The methodology involves a partial equilibrium analysis of a gravity model of bilateral trade, combined with input-output analysis to derive CO2 intensities along the value chain of African-produced goods. The results indicate a significant reduction in exports from African countries to the EEA under full product coverage. The study demonstrates that CBAM has the potential to shift the burden of emission reduction onto vulnerable EEA trading partners, underscoring the need for a carefully considered application of the policy in its final stage.

Combining three Eurostat datasets from 2005 to 2022 for 29 European countries, this thesis

examines how social spending on passive support, activation, and facilitation policies affects the disability employment gap (DEG) in the European Union. The findings suggest that demand-side activation policies, such as wage subsidies, are generally more effective at reducing the DEG compared to supply-side measures like training programs. Work-related facilitation measures, including workplace accommodations, also tend to decrease the DEG. These associations are most pronounced for severely disabled and male job seekers, suggesting the need for targeted approaches considering the type of disability and gender disparities.

Jury on behalf of academia

Jury on behalf of practice