“商學大講堂”系列學術講座（第215講）---學術名家講壇（38）

講座題目：Something in the air: PM2.5 and green innovation

主講嘉賓： 安雲碧

時  間：2023年6月14日（星期三）上午10：30—12：30

地  點：商學院116東方廳

歡迎感興趣的師生參加聆聽！

江南大學商學院

2023年6月12日

主講嘉賓簡介

安雲碧教授，加拿大皇後大學金融學博士，現任加拿大溫莎大學Odette商學院金融學教授，其主要研究領域包括公司财務金融、資産組合選擇、期權定價、風險管理等。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等國際期刊發表論文五十多篇。安教授的學術成果得到了國内外金融理論與實務界的廣泛承認，多次受邀參加EFMA, EFA, MFA, 以及NFA等舉辦的金融學年會，并擔任許多國際著名期刊的審稿專家。

講座主要内容

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.