时 间：2023年4月14日（星期五）9：30
地 点：理科大楼A714室
题 目：Navigating Climate Changes: How Do Adaptation Initiatives Affect Corporate Debt Choice
主讲人：倪晓然 厦门大学教授
主持人：李嫦 副教授
主 办：国际金融研究所
摘 要：
Climate change adaptation initiatives are designed to navigate climate changes. However, it is unclear how firms and creditors perceive regulatory risks and adaptation strategies associated with such initiatives. Employing the staggered introduction of state-level climate change adaptation plans as quasi-exogenous shocks, we find that the initiation of such plans significantly increase the reliance on private debt financing for affected firms. This effect is more pronounced among firms that are prone to suffer from climate risks, with more fragile fundamentals and higher information asymmetries. Our overall findings throw additional light on how climate issues determine the perceptions of various types of creditors and therefore affect corporate decisions.
报告人简介：
倪晓然，厦门大学经济学院、王亚南经济研究院副教授、博士生导师、金融系副主任。研究专长为利益相关者与金融风险防范。在《经济研究》《管理世界》《经济学（季刊）》《金融研究》、Journal of Corporate Finance、Journal of Banking and Finance等国内外重要学术期刊发表论文40余篇。主持国家自然科学基金面上项目、青年项目。入选福建省百千万人才工程、福建省“雏鹰计划”青年拔尖人才、福建省引进高层次人才、厦门大学南强青年拔尖人才。获得厦门大学青年教师教学技能比赛一等奖和福建省社会科学优秀成果二等奖、洪银兴经济学奖等多项教学科研奖励。