成人直播学术讲座和圆桌交流会

We study the financial consequences of biodiversity risk. Using the 2010 Deepwater Horizon spill as a plausibly exogenous salience shock and a 10-K-based industry index on biodiversity risk exposure, we link ex-ante exposure to outcomes for over 3.5 million U.S. establishments. Difference-in-differences analysis with establishment and county-by-year fixed effects shows that a one standard deviation increase in exposure lowers PAYDEX by 0.42 points (3.08% of the sample standard deviation) and reduces establishment employment and sales. Counties tilted toward exposed sectors lose establishments and payroll. Banks with greater geographic exposure raise loan loss provisions, earn less, and cut lending, and loan spreads rise for firms in high biodiversity risk sectors. Effects are stronger in National Oceanic and Atmospheric Administration (NOAA) restoration counties yet remain nationwide, consistent with transition channels. Our findings highlight that biodiversity risk is financially material for exposed firms.

主讲人Biography：

Iftekhar Hasan is University Professor at Fordham University, where he holds the E. Gerald Corrigan Chair in Finance, directs the Ph.D. program, and co-directs the Center for Research in Contemporary Finance at the Gabelli School of Business. He is also a visiting professor at Soochow University, editor of the Journal of Financial Stability, a scientific advisor at the Central Bank of Finland, and a research fellow at the Wharton Financial Institutions Center and IWH in Germany. Professor Hasan’s research focuses on financial institutions, corporate finance, and capital markets, with publications in leading journals such as the Journal of Financial Economics (JFE), Journal of Financial and Quantitative Analysis (JFQA), Management Science (MS), Journal of Accounting Research (JAR), Review of Accounting Studies (RAST), and Contemporary Accounting Research (CAR). He has authored more than 475 publications, including 16 books, and is recognized among the top financial economists worldwide.

【圆桌交流会】

时间：2025年10月13日下午1:30 -3:30

地点：东区财科馆317会议室

活动：圆桌交流会（有兴趣参加的老师请联系方一蔚老师）

成人直播

成人直播 学术讲座和圆桌交流会—Prof. Iftekhar Hasan

成人直播

成人直播学术讲座和圆桌交流会—Prof. Iftekhar Hasan