学术活动：香港理工大学叶志文助理教授——When Porter Goes Broke: Finance and Innovation under Climate Risk

讲座题目：When Porter Goes Broke: Finance and Innovation under Climate Risk

讲座时间：2025年4月15日（周二）15：00-16：00

讲座地点：明德楼1101会议室

主讲嘉宾：叶志文（助理教授）　　香港理工大学

主讲嘉宾简介：

叶志文博士早年取得加拿大卡尔加里大学博士学位，后加入香港理工大学从事教学科研工作。其研究领域聚焦环境经济学与企业金融的交叉学科方向。

讲座主要内容：

Market-based climate policies, like China's Emissions Trading Scheme (ETS), are critical yet underexplored in their impact on corporate finance. Using a difference-in-differences approach, we find that the ETS pilot increases financial leverage in financially constrained firms, challenging traditional views on corporate responses to climate risk. These firms rely on trade credit, dividend policies, and tax avoidance to spearhead R&D rather than operating activities, leading to a liquidity-productivity trade-off. Our findings extend the Porter Hypothesis by explaining why and how firms boost innovation under climate policies, offering essential insights for policymakers seeking to balance environmental and financial sustainability.

欢迎广大师生积极参加！

经济学院

2025年4月14日