Seminario de Chunxia Jiang (Universidad de Aberdeen), 4 de mayo 2023, +info...
Seminario titulado: 'Climate Risks and Debt Specialization'. El seminario será el miercoles 4 de mayo a las 12:30 en la sala Dr. Ernest LLuch (Dpto de Economia)
Abstract:
This paper examines the debt structure of a sample of U.S. firms exposed to climate risks from 2002 through 2020. Climate risks—mainly physical, regulatory, and transition risks—propagate through the channels of expected bankruptcy costs and access to finance, and are associated with greater debt specialization for the affected firms. Furthermore, the redeployability of assets and corporate sustainability can mitigate the impact of climate risks on firms' debt structures through decreased debt specialization. Difference-in-difference tests reaffirm the effects of climate risks on debt structure.
Chunxia Jiang es profesora visitante de la Universidad de Aberdeen. Email: chunxia.jiang@abdn.ac.uk
