Time：2023.6.9 (Friday) 13: 00-14:00
Venue：Songjiang Campus Building 2, Room 235
Speaker：Professor Zhang Jian
Topic：Climate Change and Enterprise Innovation
Abstract:
This study examines whether and how climate threats (droughts) affect the innovation activities of firms in food industries around the world. We find that firms in countries with a less positive Palmer Drought Severity Index (PDSI), i.e., with more drought-like conditions, file more drought-related patents and that such patents receive higher citations in the future. Such innovation activities are not found in industries unlikely affected by drought. The association between drought-like conditions and innovation is stronger in countries with more human capital, better capital market development, and a national culture with a long-term orientation. Finally, we provide suggestive evidence that national innovation activities can reduce the exposure of corporate profits to climate threats.
Guest Speaker
Zhang Jian, Professor, Ph.D. advisor, graduated from Temple University with Ph.D. in Business Administration. Currently, Jian is the Chairperson of Fintech Department, and his research is funded by The Program for Professor of Special Appointment (Eastern Scholar) at Shanghai Institutions of Higher Learning, and National Natural Science Foundation of China. His research lies in the field of corporate finance. So far, he has published 23 papers in top-rated SSCI journal such as Management Science, Journal of Business Ethics, Journal of Corporate Finance and so on. He also holds the positions in the Editorial Board of Financial Innovation and China Finance Review International.
