科学研究
报告题目：Are retail investors attracted to green firms? Evidence from extreme weather events
报告人：于巧叶
报告时间：2025年1月5日（周日）18:00-19:30
报告地点：#腾讯会议：957-968-397
主办单位：东北财经大学会计学院 辽宁省资本市场财务与会计研究生创新与学术交流中心
【报告摘要】
This paper investigates whether retail investors are more likely to invest in “green” companies after extreme weather events happened. Theoretical literature proposes that green stocks outperform brown stocks when concerns about climate change are unexpectedly strengthened. Retail investors, who are generally more flexible to reallocate capitals than institutional investors, are more likely to pay attention to prominent events, and may place greater importance on ESG information. Using extreme weather events as an exogenous shock to climate change concerns, I find that retail investors are more likely to net buy shares in green firms after an event. This study also finds that green firms have better cash flow prospects after extreme weather events, whereas retail investors net-buying activity on green firms are not driven by those firms with better financial performances. These findings suggest that firms with high ESG disclosure scores are better able to withstand such events and retail investors net buying activity on green firms is non-pecuniary related.
【报告人简介】
于巧叶，博士毕业于华威大学商学院，博士期间的研究方向旨在理解气候变化如何影响利益相关者的决策过程。她目前是牛津大学赛义德商学院可持续发展领域的博士后研究员。她与牛津大学会计学副教授 Amir Amel-Zadeh 合作，参与了牛津大学赛义德商学院的“Measuring Beyond”项目，该计划旨在推动可持续商业的发展。
【特别提醒】
未经论文作者和主办方允许，严禁将讲座内容录制并公开传播，违者将有可能被追究法律责任。
