Review of Empirical Studies on Climate Risk—Effects and Activism  

作　　者：Yehuda Davis Henry He Huang Yehuda Davis;Henry He Huang(Sy Syms School of Business, Yeshiva University, New York, USA)

机构地区：[1]Sy Syms School of Business, Yeshiva University, New York, USA

出　　处：《American Journal of Climate Change》2024年第2期194-208,共15页美国气候变化期刊（英文）

摘　　要：This review focuses on major contemporary empirical studies that examine both the physical and regulatory sides of climate risk. These studies explore how climate risk affects firms’ operating performance and leverage, stock and bond valuation, cost of capital, and managerial behavior. We also discuss how the effect of climate risk on real estate markets depends on individuals’ beliefs about climate change. Furthermore, we summarize papers on climate risk activism and how firms can employ financial devices and technology to mitigate their climate risk. Finally, we make some recommendations for further research areas.This review focuses on major contemporary empirical studies that examine both the physical and regulatory sides of climate risk. These studies explore how climate risk affects firms’ operating performance and leverage, stock and bond valuation, cost of capital, and managerial behavior. We also discuss how the effect of climate risk on real estate markets depends on individuals’ beliefs about climate change. Furthermore, we summarize papers on climate risk activism and how firms can employ financial devices and technology to mitigate their climate risk. Finally, we make some recommendations for further research areas.

关 键 词：Climate Risk Climate Risk Activism Climate Risk Mitigation 

分 类 号：P46[天文地球—大气科学及气象学]