会计系学术讲座系列2021年第20讲

主 题：全球气候脆弱性的不稳定影响

主讲人: 倪骁然（厦门大学副教授）

协调人: 汝毅

时 间：2021-11-17 10:00

地 点：线上腾讯会议

语 言：中英文

地点：腾讯会议 https://meeting.tencent.com/dm/tWmoPSXwVhjf 

会议 ID：561 389 158

密码：1117

讲座摘要:

Using a global dataset, we document that market-level climate vulnerability is positively associated with stock price crash risk of individual firms. We establish causality by using an instrumental variable analysis and difference-in-differences analysis. Furthermore, we show that an increase in climate vulnerability is associated with several strong determinants of stock price crashes, including dampened firm fundamentals, more aggressive bad-news hoarding, a higher propensity of subsequent goodwill impairment, and lower institutional ownership. Our overall findings indicate that climate vulnerability can have adverse stock market consequences.

主讲人简介:

Xiaoran Ni is an associate professor at School of Economics, Wang Yanan Institute for Studies in Economics, Xiamen University, China. His work has been published in Journal of Corporate Finance, Journal of Banking and Finance, and multiple leading Chinese journals, etc.

倪骁然，厦门大学经济学院、王亚南经济研究院副教授、博士生导师。在Journal of Corporate Finance（5篇）、Journal of Banking and Finance（2篇）、《经济研究》（2篇）、《管理世界》、《经济学（季刊）》、《金融研究》（3篇）、《中国工业经济》等国内外重要学术期刊发表论文20余篇。入选福建省“雏鹰计划”青年拔尖人才（2021）、福建省引进高层次人才（2018）。获得洪银兴经济学奖（2020）等多项国内外学术奖励。