| 题名 | The impact of climate risk on corporate innovation: An international comparison |
| 作者 | |
| 通讯作者 | Li, Donghui |
| 发表日期 | 2024-09-01
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| DOI | |
| 发表期刊 | |
| ISSN | 1042-444X
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| EISSN | 1873-1309
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| 卷号 | 75 |
| 摘要 | Employing an international sample of 10,012 firms across 62 economies spanning 2005-2017, we show that climate risk is negatively associated with corporate innovation activities. This finding is consistent with increased managerial risk aversion when managers perceive higher climate risk, leading to lower innovativeness. Through risk-buffering mechanisms, the negative association is weaker when firms are not subject to financial constraints, when corporate governance is stronger, and when the economy is more developed. Through risk-sharing mechanisms, better equity market development, greater trade openness, and greater insurance coverage can help mitigate the negative impact of climate risk on corporate innovation. Further analyses suggest that firms respond to climate change by inventing more green patents. Our study has implications for how to motivate corporate innovation in high-climate-risk economies. |
| 关键词 | |
| 相关链接 | [来源记录] |
| 收录类别 | |
| 语种 | 英语
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| 学校署名 | 其他
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| WOS研究方向 | Business & Economics
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| WOS类目 | Business, Finance
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| WOS记录号 | WOS:001260899900001
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| 出版者 | |
| 来源库 | Web of Science
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| 引用统计 |
被引频次[WOS]：1
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| 成果类型 | 期刊论文 |
| 条目标识符 | http://sustech.caswiz.com/handle/2SGJ60CL/783908 |
| 专题 | 商学院 |
| 作者单位 | 1.Capital Univ Econ & Business, Accounting Sch, 121 Zhangjialukou St, Beijing 100070, Peoples R China 2.Univ New South Wales, UNSW Business Sch, Sydney, NSW 2052, Australia 3.Shenzhen Univ, Coll Econ, 3688 Nanhai Blvd, Shenzhen 518060, Peoples R China 4.Southern Univ Sci & Technol, Coll Business, 1088 Xueyuan Rd, Shenzhen 518055, Peoples R China |
| 推荐引用方式 GB/T 7714 |
Deng, Qu,Huang, Garland,Li, Donghui,et al. The impact of climate risk on corporate innovation: An international comparison[J]. JOURNAL OF MULTINATIONAL FINANCIAL MANAGEMENT,2024,75.
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| APA |
Deng, Qu,Huang, Garland,Li, Donghui,&Yang, Shijie.(2024).The impact of climate risk on corporate innovation: An international comparison.JOURNAL OF MULTINATIONAL FINANCIAL MANAGEMENT,75.
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| MLA |
Deng, Qu,et al."The impact of climate risk on corporate innovation: An international comparison".JOURNAL OF MULTINATIONAL FINANCIAL MANAGEMENT 75(2024).
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| 条目包含的文件 | 条目无相关文件。 | |||||
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