| Autor: |
Liu, Lian, Beirne, John, Azhgaliyeva, Dina, Rahut, Dil |
| Předmět: |
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| Zdroj: |
Journal of Risk & Financial Management; Jul2024, Vol. 17 Issue 7, p267, 13p |
| Abstrakt: |
Climate change impacts will continue to worsen with rising greenhouse gas (GHG) emissions, underscoring the growing necessity to foresee and comprehend the impact of climate change risks on economic activity. Using quarterly firm-level data of 209 firms from the People's Republic of China (PRC) over the period Q1 2018–Q2 2022, this study estimates the impact of firms' exposure to climate-related risks on their financial performance. The results indicate a notable adverse effect of climate change exposure on firms' rate of return, with a lag of around two years. Firms located in more climate-vulnerable coastal areas and high-income provinces experience relatively greater negative impacts on their financial returns. Our findings have important policy implications for firms aiming to maximize their returns through enhanced climate change mitigation and adaptation efforts. [ABSTRACT FROM AUTHOR] |
| Databáze: |
Complementary Index |
| Externí odkaz: |
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