TRR 266 Seminar Series – Thomas Rauter (Booth School of Business, University of Chicago)

We would like to thank Thomas Rauter from the Booth School of Business, University of Chicago, for his engaging presentation at our Accounting Research Seminar. Thomas’s talk on “Polarizing Corporations: Does Talent Flow to ‘Good’ Firms?” examined how firms' environmental, social, and governance (ESG) practices shape labor market dynamics. Drawing on a large-scale field experiment conducted in collaboration with Brazil’s largest job platform, he demonstrated that ESG-minded firms attract more talent—especially among highly educated, white, and politically liberal job seekers. His equilibrium model highlights that while ESG practices enhance labor market efficiency and worker welfare, they may also exacerbate wage inequality.