Climate risk exposure and corporate financial distress

被引：0
|
作者：
Li, Weiwei [1 ]
Yang, Junwen [2 ]
Ning, Zihao [1 ]
机构：
[1] Woosong Univ, SolBridge Int Sch Business, Daejeon 34613, South Korea
[2] East China Univ Sci & Technol, Sch Business, Shanghai, Peoples R China
来源：
APPLIED ECONOMICS LETTERS | 2024年
关键词：
Climate risk; financial distress; financial constraints; risk-taking;
D O I：
10.1080/13504851.2024.2383258
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This study investigates the relationship between firm-level climate risk and the occurrence of financial distress within a sample of Chinese listed companies spanning from 2007 to 2022. We find that climate risk significantly accelerates financial distress. Additionally, the empirical evidence suggests that climate risk exacerbates financial distress primarily through the mechanisms of heightened financial constraints and increased risk-taking.
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页数：7
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