International Climate News
主讲人：Biao Yang（上海交通大学）
主持老师：（北大经院）王熙
参与老师： （北大经院）王一鸣、王法、刘蕴霆
（北大国发院）黄卓、张俊妮、孙振庭、
（北大新结构）胡博
时间：2024年10月11日（周五） 10:00-11:30
地点（线下）：北京大学经济学院302会议室
报告摘要：
We develop novel high-frequency indices that measure climate attention, covering a wide range of both developed and emerging economies. This is achieved by analyzing the text of over 23 million tweets published by leading national newspapers on Twitter during the period from 2014 to 2022. Our findings reveal that a country experiencing more severe climate news shocks tends to see both an inflow of capital and an appreciation of its currency. In addition, brown stocks in highly exposed countries experience large and persistent negative returns after a global climate news shock. These outcomes align with the predictions of a risk-sharing model in which investors price climate news shocks and trade consumption and investment goods in global markets.
主讲人简介：
Biao Yang is an Assistant Professor at Antai College of Economics and Management, Shanghai Jiao Tong University. He works on asset pricing and climate finance. His current research focuses on pricing of climate risk in the stock and credit markets, both empirically and theoretically. He graduated from Bocconi University with a PhD in Economics and Finance. Prior to graduate studies, he obtained a MS in Finance from Peking University and a BS in Physics from Nanjing University.
