讲座题目：Air Pollution and Bank Loan Pricing

主讲人：李东辉教授 深圳大学

讲座时间：2024年3月22日（星期五）上午10:00

讲座地点：38238威尼斯欢迎你B区88038威尼斯103室

主讲人简介：

李东辉教授先后担任澳大利亚新南威尔士大学终身副教授、中山大学教授、暨南大学管理学院执行经理、教授，现任深圳大学经济学院教授、财务金融研究中心主任。在Journal of Finance（UTD24），Journal of International Business Studies（UTD24），Journal of Financial and Quantitative Analysis（FT50）等国际期刊，以及《经济研究》、《管理世界》等国内期刊发表多篇学术论文。担任Journal of Banking and Finance, Financial Management, Journal of Risk and Insurance等期刊审稿人，多次担任British Accounting Review, Pacific-Basin Finance Journal, Accounting and Finance等国际著名期刊特邀主编。入选2021年爱思唯尔(Elsevier)“中国高被引学者”榜单、2021年度英国皇家艺术学会院士（RSA Fellow）。

讲座摘要：

Based on a unique loan dataset of a national Chinese state-owned commercial bank, this paper investigates the effect of air pollution on bank loan pricing. We find that firms located in cities with more severe air pollution are associated with higher loan interest rates due to their declined corporate performance or insufficient bank information collection. We further document that this positive impact only appears to be significant in those firms with small-scale or which are non-state-owned or non-listed, or in firms with lower market concentration or located in cities with weak environmental governance, or with guaranty loans or bank’s non-head-office core clients. Various robustness and endogeneity tests confirm our main conclusions.