财务与金融系学术讲座系列2021年第8讲

主 题：金融与污染：公司的信用状况影响其毒物排放吗？

主讲人: 解文斯(香港中文大学助理教授)

协调人: 陈俊、许年行

时 间：2021-06-11 10:00

地 点：Zoom会议室

语 言：英文

地点：Zoom会议室

https://us02web.zoom.us/j/83639067985?pwd=SWdTeHN5d0dMdlZPSkFYcy8yekVIdz09 

会议 ID：836 3906 7985

密码：403073

讲座摘要:

We evaluate the impact of credit conditions on firms’ emissions of toxic pollutants. There are differing influences: tighter credit might (a) stifle firm production, reducing toxic emissions, (b) induce firms to economize on noncore business functions, such as pollution abatement, increasing pollution; (c) have no effect on pollution if environment regulations bind. Using four identification strategies, we find that shocks that tighten a firm’s credit conditions increase its emissions of toxic pollutants, and those that ease a firm’s access to credit reduce its toxic emissions. The estimates suggest that finance exerts a large impact on firms’ emissions of toxic pollutants.

主讲人简介:

Wensi Xie is an assistant professor of finance at the Chinese University of Hong Kong Business school. Her research interests include corporate finance, banking and financial institutions, and financial accounting. She received her PhD in Finance from Faculty of Business and Economics, The University of Hong Kong. During 2013-2014, she visited the Wharton School at University of Pennsylvania as a Fulbright scholar. Her work is published or forthcoming in the Journal of Financial Economics, Review of Financial Studies, Journal of Financial and Quantitative Analysis, Management Science, Economic Journal, and Journal of Law and Economics.