讲座题目：Something in the air: PM2.5 and green innovation

主讲嘉宾：安云碧

时 间：2023年6月14日（星期三）上午10：30—12：30

地 点：商学院116东方厅

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江南大学商学院

2023年6月13日

主讲嘉宾简介

安云碧教授，加拿大皇后大学金融学博士，现任加拿大温莎大学Odette商学院金融学教授，其主要研究领域包括公司财务金融、资产组合选择、期权定价、风险管理等。曾在Journal of Corporate Finance, Financial Management, Journal of Banking and Finance, Journal of International Money and Finance, Small Business Economics, Journal of Business Finance and Accounting和Journal of Futures Markets等国际期刊发表论文五十多篇。安教授的学术成果得到了国内外金融理论与实务界的广泛承认，多次受邀参加EFMA, EFA, MFA,以及NFA等举办的金融学年会，并担任许多国际著名期刊的审稿专家。

讲座主要内容

This paper investigates whether executives’ exposure to ambient PM2.5 pollution is related to corporate green innovation. Using data on listed companies in China, we find that companies located in regions with higher PM2.5 concentrations are better motivated to engage in green innovation, resulting in a high count of green innovation patent applications in subsequent years. Moreover, our analysis shows that when corporate executives are exposed to higher PM2.5 concentrations and also exhibit greater concerns about the adverse health effects of air pollution, then their companies tend to have more green patent applications. However, we find no evidence that the positive association between PM2.5 concentrations and corporate green innovation is driven by executive compensation incentives or stock price pressures. Finally, for companies with older executives, weaker environmental regulatory pressures, and higher government subsidies, the promoting effects of PM2.5 concentrations on green innovation are more pronounced. Our research provides novel evidence regarding the role of executives’ health concerns in their decision-making on green innovation when executives are exposed to severe ambient PM2.5 pollution.