RESEARCH & PUBLICATIONS

Research for a
sustainable economy.

Explore work on investment under uncertain emissions information, adaptive environmental policy, corporate governance and the measurement of energy use and emissions.

SELECTED PAPERS

Research behind the questions.

Selected work by Azin Sharifi and coauthors across sustainable finance, environmental policy, governance and emissions measurement.

2026Working paper

Sustainable investing

Dynamic Portfolio Choice under Biased and Noisy Emissions Reports

Marcos Escobar-Anel · Azin Sharifi

SSRN

Studies portfolio decisions when emissions information is affected by reporting bias and measurement noise. Combines learning about emissions with dynamic allocation, and examines the consequences of misspecified reporting assumptions.

Full citation

Marcos Escobar-Anel; Azin Sharifi (2026). Dynamic Portfolio Choice under Biased and Noisy Emissions Reports. SSRN working paper. https://doi.org/10.2139/ssrn.7616698

2026Working paper

Sustainability policy

The Adaptive Sustainability Policy (ASP) Framework: Designing Eco-Economic Policy with Multi-Agent Reinforcement Learning

Azin Sharifi · Shiva Zamani · Luis A. Seco

SSRN

Uses an agent-based economy and multi-agent reinforcement learning to study adaptive environmental policy. Compares combinations of pollution taxes, green subsidies and emissions caps with a non-adaptive benchmark in simulated economic and environmental conditions.

Full citation

Azin Sharifi; Shiva Zamani; Luis A. Seco (2026). The Adaptive Sustainability Policy (ASP) Framework: Designing Eco-Economic Policy with Multi-Agent Reinforcement Learning. SSRN working paper. https://doi.org/10.2139/ssrn.6222980

2025Journal article

Governance & ESG

The Causal Impact of Board Structure on Firm Profitability: Evidence from a Crisis

Azin Sharifi · Shiva Zamani · Luis Seco

Journal of Risk and Financial Management · 18(10), 566

Develops a composite measure of board structure and examines firm profitability around the COVID-19 crisis using a difference-in-differences design. Focuses on governance and financial resilience, a related strand of ESG research.

Full citation

Azin Sharifi; Shiva Zamani; Luis Seco (2025). The Causal Impact of Board Structure on Firm Profitability: Evidence from a Crisis. Journal of Risk and Financial Management, 18(10), 566. https://doi.org/10.3390/jrfm18100566

2015Journal article

Energy & emissions

Energy analyses and greenhouse gas emissions assessment for saffron production cycle

Amir Abbas Bakhtiari · Amir Hematian · Azin Sharifi

Environmental Science and Pollution Research · 22(20), 16184–16201

Examines energy inputs and greenhouse-gas emissions over a five-year saffron-production cycle in Iran. Uses farm-survey data to investigate the contribution of production inputs to energy use and emissions.

Full citation

Amir Abbas Bakhtiari; Amir Hematian; Azin Sharifi (2015). Energy analyses and greenhouse gas emissions assessment for saffron production cycle. Environmental Science and Pollution Research, 22(20), 16184–16201. https://doi.org/10.1007/s11356-015-4843-6

Links open the original publisher or SSRN record. Working papers are labelled separately from journal articles.

PERSPECTIVES

Sunlight illuminating a green forest

CONNECT THE QUESTION TO THE MODEL

What changes when sustainability enters the model?

A portfolio constraint and a flood-appraisal case show why cash flows, resource consequences and environmental conditions need careful interpretation.

Read the perspective

QUESTIONS TO WORK THROUGH

Connect the evidence to a decision.

INVESTMENT & INFORMATION

Which portfolios remain feasible?

A carbon budget changes the available allocations. Emissions reporting adds a separate question: how reliable is the information used to make the choice?

Explore a portfolio constraint
APPRAISAL & DISTRIBUTION

Who gains, who pays, and what counts?

A project changes private cash flows, resource requirements and environmental conditions. Follow those accounts before interpreting an aggregate score.

Work through the appraisal
POLICY & GOVERNANCE

How do incentives and institutions matter?

Explore research on adaptive environmental policy and board structure, keeping model assumptions and the evidence behind each result in view.

Read the policy research